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3643 Cottage Pines Lane Spring, TX 77386

4 Beds 4 Baths 2,767 sqft Built 2015

$335,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $121.07
  • 40 Days on Market
  • MLS # : 10333159
  • Updated Date : 01/07/2021 at 19:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,767 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Immaculate 1.5 story available for immediate move-in in the award-winning Falls at Imperial Oaks! All 4 bedrooms down plus media room, spacious game room and half bath upstairs. No rear neighbor, large backyard backs to highly rated Birnham Woods Elementary. Open kitchen, breakfast and living area with inviting fireplace, plus bay window in the master bedroom and large walk-in master closet with connection to utility room. Formal dining room, hard surface flooring throughout the downstairs, epoxy garage flooring, water softener, and added cabinetry off the garage entrance. Walking distance to two pools, splashpads, dog park, playgrounds, 100-acre Lake Holcomb, soccer fields, tennis courts, etc. Just minutes to 99, Hardy, I45, Exxon Campus and The Woodlands.

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: Falls at Imperial Oaks

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Falls at Imperial Oaks

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10132063

* 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
Birnham Woods Elementary School Primary Regular 940 52 10
York Junior High School Middle Regular 1,002 58 8
Grand Oaks High School High Unknown NA

Birnham Woods Elementary School

  • Education Level: Primary
  • # of students: 940
  • # of teachers: 52
10
GreatSchools Rating

York Junior High School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 58
8
GreatSchools Rating

Grand Oaks High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,164
Property Tax -$759
Property Insurance -$187
HOA -$54
Property Management Fees -$99
CASH FLOW
$48

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.

$335,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.6%
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-$6.0k-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,574

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,269

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,999
1$1,9992$2,1003$2,1504$2,3105$2,450
$2,450
RENT COMPS ANALYSIS
  • 3643 Cottage Pines Lane Spring, TX 4
    • 4 beds 4 baths ∙ 2,767 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,767 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $0.83
    •  
  • 30523 Woodson Trace Drive Spring, TX 1
    • 4 beds 4 baths ∙ 2,649 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,649 Sqft ∙ Built 2012
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,999
    • $0.75
    •  
  • 30714 Lily Trace Court Spring, TX 2
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 2012
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
  • 31507 Reston Cliff Court Spring, TX 3
    • 3 beds 2 baths ∙ 2,638 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,638 Sqft ∙ Built 2012
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.82
    •  
  • 3514 Manor Lake Lane Spring, TX 5
    • 3 beds 3 baths ∙ 2,707 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,707 Sqft ∙ Built 2016
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Christopher Elmi
1.713.303.2071
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10333159
Last Updated: 01/07/2021
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