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31525 Timber Grove Lane Spring, TX 77386

3 Beds 2 Baths 2,152 sqft Built 2018

$280,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $130.11
  • 4 Days on Market
  • MLS # : 25823169
  • Updated Date : 01/08/2021 at 06:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,152 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Rare 1 Story with larger yard. 3 bedroom 2 bath and either a study or game room off of the family room. Vinyl plank floor for easy care. Covered back patio. Washer, Dryer, and Refrigerator negotiable. Room sizes are approximates.

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: Falls at Imperial Oaks

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Falls at Imperial Oaks

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10132063

* 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
Oak Ridge High School High Regular 3,637 202 8

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

Oak Ridge High School

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

$252,000$308,000$280,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$973
Property Tax -$785
Property Insurance -$151
HOA -$54
Property Management Fees -$99
CASH FLOW
$108

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.

$280,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.6%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$7,262

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,888

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7504$1,8005$2,170
$2,170
RENT COMPS ANALYSIS
  • 31525 Timber Grove Lane Spring, TX 5
    • 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2018 3 beds 2 baths ∙ 2,152 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $1.01
    •  
  • 30618 Ginger Trace Drive Spring, TX 1
    • 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,995 Sqft ∙ Built 2010
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.85
    •  
  • 30715 Lavender Trace Drive Spring, TX 2
    • 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,960 Sqft ∙ Built 2013
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 3527 Bakerswood Drive Spring, TX 3
    • 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,972 Sqft ∙ Built 2007
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 30411 Sunset Falls Drive Spring, TX 4
    • 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,997 Sqft ∙ Built 2007
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Gary Moynihan
1.281.451.4396
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25823169
Last Updated: 01/08/2021
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