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3602 Babbling Creek Drive Houston, TX 77345

4 Beds 3 Baths 2,577 sqft Built 1990

INVESTimate

$239,900

List Price

$2,050

$1,845 - $2,255

Rent Est.

$256,141  ( +6.77%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $93.09
  • 6 Days on Market
  • MLS # : 76099113
  • Updated Date : 08/24/2020 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,577 sqft
  • Baths : 2 full , 1 half
Listing Agent

Entera Realty Llc

Listing Agent's Description

Stately two-story home located in the peaceful Mills Branch Village community. Freshly painted inside and out and move-in ready. Quiet location, large private backyard with mature trees, and abundant natural light throuhgout. All bedrooms located on 2nd floor. Detached garage. Book a tour with your Real Estate Agent today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Mills Branch Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Mills Branch Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Hidden Hollow Elementary School Primary Regular 521 35 7
Creekwood Middle School Middle Regular 1,094 62 9
Kingwood High School High Regular 2,610 140 9

Hidden Hollow Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 35
7
GreatSchools Rating

Creekwood Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 62
9
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

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$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$885
Property Tax -$506
Property Insurance -$201
HOA -$37
Property Management Fees -$99
CASH FLOW
$322

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.

$239,900

PROJECTED PRICE

$2,050

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.77%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$885

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

8.25

YEARS SAVED

$30,319

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,049

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9504$2,0505$2,150
$2,150
RENT COMPS ANALYSIS
  • 3602 Babbling Creek Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,577 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.80
    •  
  • 3626 Mill Bridge Way Kingwood, TX 1
    • 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,477 Sqft ∙ Built 1991
    LEASED 09/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 5211 High Glen Court Houston, TX 2
    • 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1993
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 3707 Sweetgum Hill Lane Kingwood, TX 3
    • 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,449 Sqft ∙ Built 1989
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 3714 Sweetgum Hill Lane Kingwood, TX 5
    • 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1989
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
PROPERTY LISTING DETAILS
Grayson Bannister
1.832.735.5383
Entera Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76099113
Last Updated: 08/24/2020
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