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30815 Coral Park Drive Spring, TX 77386

5 Beds 3 Baths 2,775 sqft Built 2001

$259,500

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $93.51
  • 44 Days on Market
  • MLS # : 41828892
  • Updated Date : 11/06/2020 at 17:07
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,775 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gleannloch Realty

Listing Agent's Description

Awesome 4/5 Bedroom, 2.5 Bath home! This home is captivating from the moment you enter through the front door. This home features a formal dining area. Sleek and stylish kitchen. A great open kitchen/living concept for family and friends. Primary bedroom on the main floor has beautiful in-suite bath. Upstairs features 3 bedrooms plus a large room that can be a bedroom or flex room with many possibilities. Gracious yard adorned with an outdoor patio and gazebo too!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732063

* 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
Kaufman Elementary School Primary Regular 864 51 10
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Kaufman Elementary School

  • Education Level: Primary
  • # of students: 864
  • # of teachers: 51
10
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$233,550$285,450$259,500

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$957
Property Tax -$590
Property Insurance -$187
HOA -$42
Property Management Fees -$99
CASH FLOW
$35

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.

$259,500

PROJECTED PRICE

$1,910

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.5%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,518

INVESTMENT

$74,518

Down Payment
$64,875
Rehab Estimate
$5,750
Closing Costs
$3,893

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$957

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,875
Loan Amount $194,625
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,063

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,005

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,7953$1,9104$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 30815 Coral Park Drive Spring, TX 3
    • 5 beds 3 baths ∙ 2,775 Sqft ∙ Built 2001 5 beds 3 baths ∙ 2,775 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.69
    •  
  • 25127 Alina Lane Spring, TX 1
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2013
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 714 Aulia Lane Spring, TX 2
    • 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,602 Sqft ∙ Built 2014
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.69
    •  
  • 1431 Moston Drive Spring, TX 4
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1995
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 30311 Nanton Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,638 Sqft ∙ Built 1993
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
PROPERTY LISTING DETAILS
Diane Jacob
1.832.381.4671
Gleannloch Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41828892
Last Updated: 11/06/2020
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