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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $100.12
- 7 Days on Market
- MLS # : 15060233
- Updated Date : 01/15/2021 at 12:02
CONSTRUCTION
- Beds : 4
- Floor Size : 2,447 sqft
- Baths : 2 full , 1 half
Listing Agent
Redfin Corporation
Listing Agent's Description
Welcome home to this stunning 4 bedroom 2.5 bath home featuring neutral tones ideal for any décor. Private downstairs primary suite contains dual sinks with plenty of counter space, jetted tub and separate shower. Beautifully maintained home with hardwood floors, soaring ceilings and natural lighting throughout. Spacious kitchen with granite countertops includes lots of pantry space, including underneath the stove top island that has electrical outputs. In addition there’s a convenient built in desk located in the kitchens corner. Enjoy the oversized backyard with built in fire pit. Plenty of space for summer outdoor activities and relaxation
SEE MORE
- 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: Mills Branch Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Mills Branch Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,890 |
| EXPENSES | Loan Payment | -$851 |
| Property Tax | -$517 | |
| Property Insurance | -$193 | |
| HOA | -$37 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$194
|
||
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.
$245,000
PROJECTED PRICE
$1,890
PROJECTED RENT
0.77%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 6.8% |
| 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
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$70,675
LOAN DETAILS
$851
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $61,250 |
| Loan Amount | $183,750 |
5.5
YEARS SAVED
$14,801
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,890
LIST RENT -
$0.77
LIST RENT PER SQFT
-
$1,884
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
3615 Spring Arbor Way Houston, TX 2
- 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,447 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $1,890
- $0.77
-
3634 Mill Bridge Way Houston, TX 1
- 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,448 Sqft ∙ Built 1991
LEASED 09/17/20- Rent
- Rent Per SQFT
- $1,750
- $0.71
-
4523 Dogwood Ridge Lane Houston, TX 3
- 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1990
LEASED 06/01/20- Rent
- Rent Per SQFT
- $1,900
- $0.82
-
3906 Sweetgum Hill Lane Kingwood, TX 4
- 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,522 Sqft ∙ Built 1989
LEASED 01/07/21- Rent
- Rent Per SQFT
- $1,900
- $0.75
-
3707 Sweetgum Hill Lane Kingwood, TX 5
- 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
PROPERTY LISTING DETAILS
1.239.896.2953
Redfin Corporation
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 15060233
Last Updated: 01/15/2021
