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31302 Copperleaf Drive Spring, TX 77386

4 Beds 2 Baths 1,785 sqft Built 1995

$220,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $123.25
  • 3 Days on Market
  • MLS # : 81001949
  • Updated Date : 01/01/2021 at 18:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,785 sqft
  • Baths : 2 full
Listing Agent

Threshold Realty, Llc

Listing Agent's Description

WELCOME HOME!! This beautiful 1 story w/ POOL has it all! Located in the Spring/Oak Ridge area and just under a 15 minute drive to The Woodlands Mall, Market Street & Waterway. This 4 bedroom home has a warm welcoming feel and features a spacious kitchen w/ granite counter tops as well as some updated stainless steel appliances. New privacy fence replaced in 2020. Fresh paint on exterior of home. The windows throughout the house really showoff the natural light. Cozy up by the brick fireplace during the cold seasons. All bedrooms have had carpet replaced in the last few years. Garage door, front and back door all replaced in 2020. Last but not least, THE POOL, the gorgeous in-ground pool, has a beautiful rock waterfall that creates such a peaceful view for you to enjoy everyday. The backyard has tons of room for outdoor furniture, plants, get togethers and more!! Come see me before I'm gone!! **Showings start 1/2/21 11am-4pm**

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$812
Property Tax -$488
Property Insurance -$130
HOA -$32
Property Management Fees -$99
CASH FLOW
$249

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.

$220,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.82%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$23,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7954$1,8005$1,810
$1,810
RENT COMPS ANALYSIS
  • 31302 Copperleaf Drive Spring, TX 5
    • 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $1.01
    •  
  • 1335 Chesterpoint Drive Spring, TX 1
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1997
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 31182 N Head Drive Spring, TX 2
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 1994
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
  • 1330 Coppercrest Drive Spring, TX 3
    • 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,823 Sqft ∙ Built 1997
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.98
    •  
  • 31131 Perlican Drive Spring, TX 4
    • 3 beds 2 baths ∙ 1,966 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,966 Sqft ∙ Built 1997
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
PROPERTY LISTING DETAILS
Christina Harris
1.832.868.0834
Threshold Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 81001949
Last Updated: 01/01/2021
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