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3507 Broken Elm Drive Spring, TX 77388

3 Beds 3 Baths 2,301 sqft Built 1986

$268,000

List Price

$1,860

$1.7K - $2K

Rent Est.

$76,770

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+6.3%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.2%
Cash Flow	$180
Value Increase	$17,164

10 YEAR

Cash On Cash	-4.0%
Total Return	9.7%

PROPERTY INFO

December 31, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 1986
Price/Sqft : $116.47
4 Days on Market
MLS # : 56302879
Updated Date : 01/02/2021 at 14:46

CONSTRUCTION

Beds : 3
Floor Size : 2,301 sqft
Baths : 2 full , 1 half

Listing Agent

Re/max Signature

Listing Agent's Description

Beautiful 3 Bedroom 2.5 Bathroom home in Klein ISD with a pool, located minutes from I-45 and a small commute to the Woodlands. The kitchen is loaded with granite and has a great view to the pool, so you can cook while you entertain, all at the same time. Bathrooms also include granite counters. The master bedroom is located downstairs, while the other two rooms are up, along with a flex/ game room that is currently being used as an office space. Notice the great green space next to the pool. Schedule your showing today!

3510 Broken Elm Dr

Spring, Texas

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MARKET HIGHLIGHTS

Houston Market Report

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)

Neighborhood: Cypresswood

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

Neighborhood: Cypresswood

* 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

GreatSchools Rating

Strack Intermediate School

Education Level: Middle
# of students: 1,196
# of teachers: 73

GreatSchools Rating

Klein Collins High School

Education Level: High
# of students: 3,580
# of teachers: 201

GreatSchools Rating

FINANCIALS

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$241,200$294,80000$268,000

PURCHASE PRICE

$1,674$2,04600$1,860

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,860
EXPENSES	Loan Payment	-$989
	Property Tax	-$533
	Property Insurance	-$183
	HOA	-$42
	Property Management Fees	-$99



CASH FLOW $15

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.

$268,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.87%
Appreciation Year (1-5)	6.3%
Maintenance Year (1-5)	8.00%
Vacancy	9.28%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$76,770

Down Payment	$67,000
Rehab Estimate	$5,750
Closing Costs	$4,020

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$989

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$67,000
Loan Amount	$201,000

See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,175

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
$0.81
LIST RENT PER SQFT

$1,708
COMP ESTIMATED VALUE
$0.74
COMP AVG. RENT PER SQFT

Comps Range

$1,530

1$1,5302$1,5953$1,6954$1,7455$1,860

$1,860

RENT COMPS ANALYSIS

2,301
PROPERTY SQFT
$0.74
AVG RENT PER SQFT
$1,708
ESTIMATED VALUE
$1,860
LIST RENT

3507 Broken Elm Drive Spring, TX 5

3 beds 3 baths ∙ 2,301 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,301 Sqft ∙ Built 1986
Price

Price Per SQFT

$268,000

$116.47
3614 Rolling Forest Drive Spring, TX 1

3 beds 2 baths ∙ 2,174 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,174 Sqft ∙ Built 1979
SOLD 07/14/20
Price

Price Per SQFT

$209,900

$96.55
3406 Flaming Candle Drive Spring, TX 2

3 beds 3 baths ∙ 2,405 Sqft ∙ Built 1979 3 beds 3 baths ∙ 2,405 Sqft ∙ Built 1979
SOLD 12/23/20
Price

Price Per SQFT

$210,000

$87.32
18414 Ella Boulevard Spring, TX 3

3 beds 3 baths ∙ 2,266 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,266 Sqft ∙ Built 1981
SOLD 07/08/20
Price

Price Per SQFT

$239,000

$105.47
18406 Ella Boulevard Spring, TX 4

3 beds 2 baths ∙ 2,260 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,260 Sqft ∙ Built 1984
SOLD 08/20/20
Price

Price Per SQFT

$254,000

$112.39

3507 Broken Elm Drive Spring, TX 5

3 beds 3 baths ∙ 2,301 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,301 Sqft ∙ Built 1986
Rent

Rent Per SQFT

$1,860

$0.81
3635 Lost Oak Drive Spring, TX 1

3 beds 2 baths ∙ 2,127 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 1983
LEASED 02/26/20
Rent

Rent Per SQFT

$1,530

$0.72
18210 Mantana Drive Spring, TX 2

4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,198 Sqft ∙ Built 1976
LEASED 04/20/20
Rent

Rent Per SQFT

$1,595

$0.73
3602 Aldergrove Drive Spring, TX 3

4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,126 Sqft ∙ Built 1983
LEASED 02/03/20
Rent

Rent Per SQFT

$1,695

$0.80
3602 Laurel Hollow Drive Spring, TX 4

4 beds 3 baths ∙ 2,433 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 1992
LEASED 09/22/20
Rent

Rent Per SQFT

$1,745

$0.72

PROPERTY LISTING DETAILS

Colby Hebert
1.832.260.5118
Re/max Signature

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56302879
Last Updated: 01/02/2021

3507 Broken Elm Drive Spring, TX 77388

$268,000

$1,860

$76,770

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Haude Elementary School

Strack Intermediate School

Klein Collins High School

FINANCIALS

$241,200$294,80000$268,000

$1,674$2,04600$1,860

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$268,000

$1,860

0.69%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$989

2.58

$6,175

$268,000

$116.47

$231,095

$100.43

COMPS RANGE

PRICE COMPS ANALYSIS

$1,860

$0.81

$1,708

$0.74

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS