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34 Misted Lilac Place Spring, TX 77381

4 Beds 4 Baths 2,972 sqft Built 1994

$440,000

List Price

$2,970

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $148.05
  • 3 Days on Market
  • MLS # : 50988962
  • Updated Date : 01/08/2021 at 09:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,972 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This is a fantastic opportunity to be in a very central Woodlands location in the highly sought-after neighborhood of Hayden's Run which is within walking distance of the exemplary Galatas Elementary. This light bright home features wood and tile floors throughout with zero carpet! Homes in this neighborhood do not last long so schedule your showing today!

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: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723320

* 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
Galatas Elementary School Primary Regular 660 40 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Galatas Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 40
10
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$396,000$484,000$440,000

PURCHASE PRICE

$2,673$3,267$2,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,970
EXPENSES Loan Payment -$1,528
Property Tax -$844
Property Insurance -$199
Property Management Fees -$99
CASH FLOW
$300

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$440,000

PROJECTED PRICE

$2,970

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$122,350

INVESTMENT

$122,350

Down Payment
$110,000
Rehab Estimate
$5,750
Closing Costs
$6,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,528

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $110,000
Loan Amount $330,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$23,016

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,970

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $2,979

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8003$2,9704$3,0005$3,100
$3,100
RENT COMPS ANALYSIS
  • 34 Misted Lilac Place Spring, TX 3
    • 4 beds 4 baths ∙ 2,972 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,972 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,970
    • $1.00
    •  
  • 23 Larks Aire Place The Woodlands, TX 1
    • 4 beds 4 baths ∙ 2,962 Sqft ∙ Built 1993 4 beds 4 baths ∙ 2,962 Sqft ∙ Built 1993
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.91
    •  
  • 39 E Greywing Circle The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 1995
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.99
    •  
  • 39 Larks Aire Place The Woodlands, TX 4
    • 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 1994 5 beds 3 baths ∙ 2,848 Sqft ∙ Built 1994
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.05
    •  
  • 31 Wisteria Walk Circle The Woodlands, TX 5
    • 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 1992 4 beds 4 baths ∙ 2,938 Sqft ∙ Built 1992
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.06
    •  
PROPERTY LISTING DETAILS
Tyler Smith
1.281.841.6921
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50988962
Last Updated: 01/08/2021
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