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38 Poplar Pine Court The Woodlands, TX 77385

4 Beds 3 Baths 2,746 sqft Built 2003

INVESTimate

$298,700

List Price

$2,020

$1,818 - $2,222

Rent Est.

$310,917  ( +4.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $108.78
  • 8 Days on Market
  • MLS # : 69504834
  • Updated Date : 08/20/2020 at 22:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,746 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Beautiful Lennar home on a cul-de-sac street in Harpers Landing! Neutral paint palette, soaring ceilings, abundant windows, crown moulding, art niches, and excellent use of space! Open concept kitchen with breakfast bar, silestone counters, stainless steel appliances and plenty of cabinet storage overlooks the breakfast room and den with gas fireplace; washer/dryer included; formal dining with chair rail; all four bedrooms and game room up; fenced yard with patio has room to play and entertain!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$268,830$328,570$298,700

PURCHASE PRICE

$1,818$2,222$2,020

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

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$1,102
Property Tax -$626
Property Insurance -$186
Property Management Fees -$99
CASH FLOW
$7

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.

$298,700

PROJECTED PRICE

$2,020

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.09%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,906

INVESTMENT

$84,906

Down Payment
$74,675
Rehab Estimate
$5,750
Closing Costs
$4,481

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,102

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,675
Loan Amount $224,025
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,683

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,895
1$1,8952$1,9503$1,9954$2,0205$2,250
$2,250
RENT COMPS ANALYSIS
  • 38 Poplar Pine Court The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,746 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.74
    •  
  • 14 Raindance Court The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,725 Sqft ∙ Built 2004
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.70
    •  
  • 9935 Wing Street Conroe, TX 2
    • 4 beds 2 baths ∙ 2,746 Sqft ∙ Built 2009 4 beds 2 baths ∙ 2,746 Sqft ∙ Built 2009
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 259 Genesee Ridge Court The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2003
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 8110 Black Percher Street Conroe, TX 5
    • 3 beds 3 baths ∙ 2,809 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,809 Sqft ∙ Built 2013
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
PROPERTY LISTING DETAILS
Michael Seder
1.281.602.8820
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69504834
Last Updated: 08/20/2020
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