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3406 Blue Candle Drive Spring, TX 77388

4 Beds 3 Baths 2,886 sqft Built 1983

$289,000

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $100.14
  • 24 Days on Market
  • MLS # : 97211188
  • Updated Date : 12/30/2020 at 11:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,886 sqft
  • Baths : 2 full , 1 half
Listing Agent

Register Real Estate Advisors

Listing Agent's Description

Are you looking for SPACE? How about this meticulously maintained 4-bedroom home on two lots with two 2 car garages in the desirable Candlelight Hills subdivision. Downstairs, the den boasts custom woodwork, built-in cabinets, and a fireplace. Even gourmet chefs will fall in love with the spacious kitchen loaded with storage and counter space. Great for entertaining, formal dining room, casual eating in the breakfast room, and a bar in den for entertaining. Retreat to the primary bedroom and en suite for quiet time. Primary bath area is large and light with two walk in closets. Upstairs, you will find the game room easily accommodates a pool table and has its own fireplace.The three bedrooms upstairs have large windows overlooking the front landscaped lawn. Upstairs bath is a Jack and Jill style connecting two of the bedrooms. Outside, you will enjoy the neatly manicured lawn spread out over two lots, boasting a park-like setting with stately trees, mature hedges, and plenty of room.

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
 

$260,100$317,900$289,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$1,004
Property Tax -$574
Property Insurance -$222
HOA -$54
Property Management Fees -$99
CASH FLOW
$6

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.

$289,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.68%

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$100k$200k$300k$400k$500k$600k$700k$800k$900k

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$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$4,394

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9604$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 3406 Blue Candle Drive Spring, TX 3
    • 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,886 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.68
    •  
  • 3323 Wildcandle Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,756 Sqft ∙ Built 1983
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.65
    •  
  • 3303 Candleway Drive Spring, TX 2
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 1975
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 2915 Blue Fovant Court Spring, TX 4
    • 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,814 Sqft ∙ Built 2003
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.71
    •  
  • 107 Snowwood Court Spring, TX 5
    • 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1989
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
PROPERTY LISTING DETAILS
Allyson Streckfuss-goodwin
1.865.850.4297
Register Real Estate Advisors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 97211188
Last Updated: 12/30/2020
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