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30302 Deleon Fields Drive Spring, TX 77386

3 Beds 2 Baths 1,546 sqft Built 2009

$204,900

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $132.54
  • 2 Days on Market
  • MLS # : 73133317
  • Updated Date : 11/28/2020 at 14:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,546 sqft
  • Baths : 2 full
Listing Agent

Illumi Real Estate

Listing Agent's Description

Beautiful home in Legends Ranch. 42'' Kitchen cabinets with Granite, Hand-scraped laminate wood flooring, crown moulding, 2'' blinds, oversized patio and storage building. Great floor plan for entertaining. New roof. Wonderful split floorplan - great for entertaining. The PERFECT place to call HOME!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
  • Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
  • Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Canyon Lakes at Legends Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Canyon Lakes at Legends Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Birnham Woods Elementary School Primary Regular 940 52 10
Cox Intermediate School Middle Regular 1,093 60 9
Grand Oaks High School High Unknown NA

Birnham Woods Elementary School

  • Education Level: Primary
  • # of students: 940
  • # of teachers: 52
10
GreatSchools Rating

Cox Intermediate School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 60
9
GreatSchools Rating

Grand Oaks High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$184,410$225,390$204,900

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$756
Property Tax -$382
Property Insurance -$116
HOA -$75
Property Management Fees -$99
CASH FLOW
$91

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$204,900

PROJECTED PRICE

$1,520

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,049

INVESTMENT

$60,049

Down Payment
$51,225
Rehab Estimate
$5,750
Closing Costs
$3,074

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,225
Loan Amount $153,675
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,926

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,520

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,515

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5203$1,5654$1,5755$1,600
$1,600
RENT COMPS ANALYSIS
  • 30302 Deleon Fields Drive Spring, TX 2
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.98
    •  
  • 30018 Luna Lakes Drive Spring, TX 1
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2004
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 29822 Buffalo Canyon Drive Spring, TX 3
    • 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,594 Sqft ∙ Built 2005
    LEASED 05/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,565
    • $0.98
    •  
  • 3519 Azalea Sands Drive Spring, TX 4
    • 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,660 Sqft ∙ Built 2004
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.95
    •  
  • 3630 Cedar Flats Lane Spring, TX 5
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
PROPERTY LISTING DETAILS
Trisha Lauter
1.832.693.1571
Illumi Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 73133317
Last Updated: 11/28/2020
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