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3627 El James Drive Spring, TX 77388

5 Beds 4 Baths 2,865 sqft Built 1980

$279,900

List Price

$1,980

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $97.70
  • 6 Days on Market
  • MLS # : 89371503
  • Updated Date : 01/26/2021 at 20:01
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,865 sqft
  • Baths : 3 full , 1 half
Listing Agent

Texas Ally Real Estate Group,

Listing Agent's Description

This lovely 5 bedroom, 3-1/2 bath home has TWO master bedrooms down, 3 bedrooms up, and a HUGE game room upstairs. The home is also situated on a cul-de-sac! The gorgeous updates include all new flooring, fresh paint inside and out, granite in kitchen and all bathrooms, new stainless steel appliances, new bronze faucets, fixtures, and hardware; new outlets and switches; new electric panel; 2 new AC condensers, 1 new evaporator and furnace; and new blown insulation in the attic. The roof is less than 5 years old! You will notice the beautiful hand scraped flooring, neutral colors, gorgeous granite and travertine kitchen the moment you enter as well as plenty of new recessed LED lighting throughout making this home bright and inviting! A great location, centrally located between I-45 and HWY 249 and in the esteemed Klein school district. A must see, NEVER FLOODED!

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: Cypresswood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Cypresswood

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
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
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,782$2,178$1,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,980
EXPENSES Loan Payment -$972
Property Tax -$556
Property Insurance -$221
HOA -$43
Property Management Fees -$99
CASH FLOW
$89

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.

$279,900

PROJECTED PRICE

$1,980

PROJECTED RENT

0.71%

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,225

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,980

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,127

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9803$2,1004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 3627 El James Drive Spring, TX 2
    • 5 beds 4 baths ∙ 2,865 Sqft ∙ Built 1980 5 beds 4 baths ∙ 2,865 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.69
    •  
  • 3303 Candleway Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,767 Sqft ∙ Built 1975
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 107 Snowwood Court Spring, TX 3
    • 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,811 Sqft ∙ Built 1989
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
  • 3430 Rolling Terrace Drive Spring, TX 4
    • 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,838 Sqft ∙ Built 1993
    property image
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.74
    •  
  • 3634 Coltwood Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,736 Sqft ∙ Built 1983
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.79
    •  
PROPERTY LISTING DETAILS
Georgian Landau
1.352.208.7000
Texas Ally Real Estate Group,
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 89371503
Last Updated: 01/26/2021
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