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3102 Glade Springs Drive Houston, TX 77339

3 Beds 2 Baths 1,574 sqft Built 1980

$180,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $114.36
  • 2 Days on Market
  • MLS # : 87628614
  • Updated Date : 11/07/2020 at 17:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full
Listing Agent

Jane Byrd Properties Intl.

Listing Agent's Description

Welcome Home! You will love pulling up to this charming 3 bedroom, 2 bath home tucked away on a cul-de-sac lot, next to the Greenbelts in highly desirable Kingwood. This beautiful with curb appeal galore, features a newer roof (2019) and full kitchen remodel with custom cabinets, granite counters, built in microwave and stainless steel appliances. The Primary bath has been upgraded with large walk-in shower, custom cabinets, granite countertops and stylish fixtures. The backyard is perfect for entertaining, complete with deck, stone fire-pit (2018) and lots of shade for those hot Texas summers. In addition, the outside of the home has upgraded motion and dusk til dawn lighting (2016). You do not want to miss the chance to see this one!

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: Hunters Ridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Hunters Ridge Village

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
Greentree Elementary School Primary Regular 760 44 8
Creekwood Middle School Middle Regular 1,094 62 9
Kingwood High School High Regular 2,610 140 9

Greentree Elementary School

  • Education Level: Primary
  • # of students: 760
  • # of teachers: 44
8
GreatSchools Rating

Creekwood Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 62
9
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$664
Property Tax -$380
Property Insurance -$134
HOA -$31
Property Management Fees -$99
CASH FLOW
$243

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.

$180,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.3%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$22,783

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,550

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,5504$1,6005$1,605
$1,605
RENT COMPS ANALYSIS
  • 3102 Glade Springs Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,574 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 3767 Glade Forest Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1980
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 2926 Park Garden Drive Kingwood, TX 2
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1982
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 2903 Valley Rose Drive Kingwood, TX 4
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1982
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 3114 Timberlark Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1980
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,605
    • $0.99
    •  
PROPERTY LISTING DETAILS
Monica Dedmon
1.713.819.0943
Jane Byrd Properties Intl.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 87628614
Last Updated: 11/07/2020
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