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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hunters Ridge Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$53,450
LOAN DETAILS
$664
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $45,000 |
| Loan Amount | $135,000 |
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
-
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
1.713.819.0943
Jane Byrd Properties Intl.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 87628614
Last Updated: 11/07/2020
