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3214 Stoneydale Lane Spring, TX 77388

4 Beds 3 Baths 2,698 sqft Built 2002

$242,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $89.70
  • 47 Days on Market
  • MLS # : 33863785
  • Updated Date : 02/02/2021 at 17:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,698 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Click below on the virtual 3d tour of the property. Great location just minutes from interstate 45, The Grand Parkway, and the Hardy toll road. Lots of space with this property at over 2,600 square feet and 4 bedrooms. Formal dining, formal living space, Game room, and all bedrooms upstairs make this the perfect property for you and your family. Cozy up at the fireplace or relax in the spacious backyard area after a long day . Roof and HVAC System replaced recently. The home features Solar Panels that generate power for the home.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 77388

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77388

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10632063

* 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
Kreinhop Elementary School Primary Regular 881 58 6
Schindewolf Intermediate School Middle Regular 1,321 78 6
Klein Collins High School High Regular 3,580 201 6

Kreinhop Elementary School

  • Education Level: Primary
  • # of students: 881
  • # of teachers: 58
6
GreatSchools Rating

Schindewolf Intermediate School

  • Education Level: Middle
  • # of students: 1,321
  • # of teachers: 78
6
GreatSchools Rating

Klein Collins High School

  • Education Level: High
  • # of students: 3,580
  • # of teachers: 201
6
GreatSchools Rating
 

$217,800$266,200$242,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$841
Property Tax -$626
Property Insurance -$210
HOA -$41
Property Management Fees -$99
CASH FLOW
$43

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.

$242,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,880

INVESTMENT

$69,880

Down Payment
$60,500
Rehab Estimate
$5,750
Closing Costs
$3,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$841

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,500
Loan Amount $181,500
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$3,876

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $1,835

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7003$1,7454$1,8605$1,900
$1,900
RENT COMPS ANALYSIS
  • 3214 Stoneydale Lane Spring, TX 4
    • 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,698 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.69
    •  
  • 21147 Covington Bridge Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,665 Sqft ∙ Built 2000
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.64
    •  
  • 2922 Sandleigh Drive Spring, TX 2
    • 3 beds 2 baths ∙ 2,668 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,668 Sqft ∙ Built 2004
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.64
    •  
  • 3131 Spring Flower Lane Spring, TX 3
    • 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,526 Sqft ∙ Built 2004
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.69
    •  
  • 3407 La Seine Lane Spring, TX 5
    • 3 beds 3 baths ∙ 2,536 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,536 Sqft ∙ Built 1996
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.75
    •  
PROPERTY LISTING DETAILS
Earl Forbes
1.281.242.6200
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 #: 33863785
Last Updated: 02/02/2021
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