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38 Orchid Grove Place The Woodlands, TX 77385

3 Beds 2 Baths 1,614 sqft Built 2002

$239,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $148.64
  • 52 Days on Market
  • MLS # : 3392431
  • Updated Date : 12/10/2020 at 09:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,614 sqft
  • Baths : 2 full
Listing Agent

Douglas Elliman Real Estate

Listing Agent's Description

Incredible opportunity to own this cute as a button home in Harpers Landing. Wonderful updates include granite counters, neutral paint, wood look flooring, travertine tile, and more. The yard just underwent a gorgeous makeover, too! A split floorplan offers privacy for the spacious secondary rooms and primary suite. An open flow makes it easy to entertain in the large den with cozy, corner fireplace and a wonderful, eat in kitchen w/breakfast bar. Plenty of room to run and play in the fully fenced backyard. Located on a cul-de-sac street, this won't last long!

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: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8932063

* 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
Collins Intermediate School Primary Regular 674 36 10
Collins Intermediate School Middle Regular 674 36 10
The Woodlands College Park High School High Regular 2,794 161 9

Collins Intermediate School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

Collins Intermediate School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

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

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$833
Property Tax -$503
Property Insurance -$120
Property Management Fees -$99
CASH FLOW
$4

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

$1,560

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.1%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,558

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,5003$1,5004$1,5505$1,560
$1,560
RENT COMPS ANALYSIS
  • 38 Orchid Grove Place The Woodlands, TX 5
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.97
    •  
  • 19 Bark Bend Place The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2005
    property image
    LEASED 11/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.93
    •  
  • 234 W Misty Dawn Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2004
    property image
    LEASED 01/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 230 W Misty Dawn Drive The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2004
    property image
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 46 Drifting Shadows Circle The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Renay Cohen
1.713.303.0531
Douglas Elliman Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 3392431
Last Updated: 12/10/2020
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