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3322 Candlepine Drive Spring, TX 77388

4 Beds 3 Baths 2,536 sqft Built 2001

$250,000

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $98.58
  • 3 Days on Market
  • MLS # : 69340406
  • Updated Date : 01/02/2021 at 08:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,536 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Agency Texas Inc

Listing Agent's Description

Check out this beautiful home in the Candlelight Park Estates gated community! Tons of updates, but the first thing you will notice is the hardwood floors throughout the entire home. The kitchen has been fully renovated with tile floors, granite countertops, backsplash, and updated stainless steel appliances! The master bedroom is downstairs with a very recently renovated master bathroom that will take your breath away! Upstairs you will find 3 bedrooms and a large game room. The outdoor covered patio is perfect for enjoying any time of year and don't forget to check out the nifty remote controlled louvered sun roof that gives you the power to turn your patio roof into a open pergola at the click of a button! Some other bells and whistles you can enjoy with this home to make your life easier is a leafguard gutter system, auto sprinkler system, smart nest thermostat, pours tubing in the walls for max pest control, solar screens on all windows, pre wired alarm security system, and more!

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: Candlelight Hills

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Candlelight Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722234

* 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
Haude Elementary School Primary Regular 698 43 7
Strack Intermediate School Middle Regular 1,196 73 7
Klein Collins High School High Regular 3,580 201 6

Haude Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 43
7
GreatSchools Rating

Strack Intermediate School

  • Education Level: Middle
  • # of students: 1,196
  • # of teachers: 73
7
GreatSchools Rating

Klein Collins High School

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

$225,000$275,000$250,000

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$922
Property Tax -$497
Property Insurance -$199
HOA -$67
Property Management Fees -$99
CASH FLOW
$327

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.

$250,000

PROJECTED PRICE

$2,110

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.9%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$30,929

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,067

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1004$2,1105$2,200
$2,200
RENT COMPS ANALYSIS
  • 3322 Candlepine Drive Spring, TX 4
    • 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,536 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.83
    •  
  • 3622 Blue Cypress Drive Spring, TX 1
    • 4 beds 4 baths ∙ 2,663 Sqft ∙ Built 1983 4 beds 4 baths ∙ 2,663 Sqft ∙ Built 1983
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 3623 Shipman Lane Spring, TX 2
    • 3 beds 3 baths ∙ 2,534 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,534 Sqft ∙ Built 1982
    property image
    LEASED 08/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 3323 Coltwood Drive Spring, TX 3
    • 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1995
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 18602 Roslyn Springs Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2014
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
PROPERTY LISTING DETAILS
Mark Archer
1.832.692.3919
The Agency Texas Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69340406
Last Updated: 01/02/2021
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