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32 S Summer Star Court The Woodlands, TX 77380

3 Beds 2 Baths 1,696 sqft Built 1982

$249,500

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $147.11
  • 5 Days on Market
  • MLS # : 55386427
  • Updated Date : 03/26/2021 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Professionals

Listing Agent's Description

**NO FLOODING DURING HURRICANE HARVEY** This home has been meticulously maintained and move-in ready for the new owner! Take a look out your back door to serenity! Spend mornings here on the new deck. Enjoy the peace of what cul-de-sac living has to offer. Complete HVAC system replaced in 3/2020, and many other updated items throughout the home. The current owners enjoy spacious living room and primary Bedroom and sitting on the back deck relaxing to the sounds of nature. The Woodlands Mall and Pavilion are just a short ride down the road. Nature trails to walk or bike and parks abound throughout the area. Just minutes from I-45. This one won't last in this highly sought after neighborhood!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grogan's Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Grogan's Mill

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
Sam Hailey Elementary School Primary Regular 720 42 6
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Sam Hailey Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 42
6
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$224,550$274,450$249,500

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$867
Property Tax -$489
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$60

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.

$249,500

PROJECTED PRICE

$1,640

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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-$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$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$867

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,692

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,6103$1,6404$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 32 S Summer Star Court The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.97
    •  
  • 24 Field Flower Court Spring, TX 1
    • 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,544 Sqft ∙ Built 1983
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.97
    •  
  • 89 W High Oaks Circle Spring, TX 2
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.04
    •  
  • 6 S High Oaks Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 1981 4 beds 3 baths ∙ 1,880 Sqft ∙ Built 1981
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.96
    •  
  • 22 S Rain Forest Court The Woodlands, TX 5
    • 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,844 Sqft ∙ Built 1983
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
PROPERTY LISTING DETAILS
Ryan Williams
1.936.414.5252
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55386427
Last Updated: 03/26/2021
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