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38 S Planchard Circle The Woodlands, TX 77382

4 Beds 3 Baths 2,784 sqft Built 2007

INVESTimate

$345,000

List Price

$2,440

$2,196 - $2,684

Rent Est.

$353,487  ( +2.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2007
  • Price/Sqft : $123.92
  • 7 Days on Market
  • MLS # : 14097572
  • Updated Date : 08/20/2020 at 09:22
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,784 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Fantastic Chesmar-built home - walk to elementary school! 2 story Foyer with large window. Formal Dining Room or Office has high ceilings & crown molding. Kitchen boasts large island with breakfast seating, granite countertops, 42 inch birch cabinetry & new stainless appliances inc. 5 burner gas range with griddle and dishwasher (2019) as well as newer garbage disposal. Breakfast room with two walls of windows. Den has 2-story wall of windows & tiled fireplace with art niche. Master has crown molding and en-suite bath featuring jetted tub, separate shower, dual sinks, private commode, and walk-in closet. Huge under-stair storage area.Upstairs is large game room with surround sound speakers, three additional bedrooms - all are nice-sized with walk-in closets & large bath. Covered porch & extended patio for entertaining. Garage door opener (2018) and new A/C compressor 2020. Landscape irrigation with B-Hyve smart controller(2020). Visit https://youtu.be/OEIaffoNlX0 for a video of home!

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: Sterling Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Sterling Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10723113

* 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
Deretchin Elementary School Primary Regular 1,121 66 10
Deretchin Elementary School Middle Regular 1,121 66 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Deretchin Elementary School

  • Education Level: Primary
  • # of students: 1,121
  • # of teachers: 66
10
GreatSchools Rating

Deretchin Elementary School

  • Education Level: Middle
  • # of students: 1,121
  • # of teachers: 66
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$310,500$379,500$345,000

PURCHASE PRICE

$2,196$2,684$2,440

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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 $2,440
EXPENSES Loan Payment -$1,273
Property Tax -$677
Property Insurance -$188
Property Management Fees -$99
CASH FLOW
$204

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.

$345,000

PROJECTED PRICE

$2,440

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.46%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,273

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$22,743

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,440

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,450

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,4404$2,4505$2,500
$2,500
RENT COMPS ANALYSIS
  • 38 S Planchard Circle The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,784 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,440
    • $0.88
    •  
  • 26 Fillgrove Place The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,683 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,683 Sqft ∙ Built 2007
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 70 N Planchard Circle The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,765 Sqft ∙ Built 2006
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 15 Gilmore Grove Place The Woodlands, TX 4
    • 4 beds 4 baths ∙ 2,778 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,778 Sqft ∙ Built 2005
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 30 Sheltered Arbor Court The Woodlands, TX 5
    • 4 beds 4 baths ∙ 2,642 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,642 Sqft ∙ Built 2006
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.95
    •  
PROPERTY LISTING DETAILS
Ray Larson
1.713.899.9255
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 #: 14097572
Last Updated: 08/20/2020
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