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3902 Mossy Place Lane Spring, TX 77388

3 Beds 2 Baths 1,008 sqft Built 2007

$152,500

List Price

$1,240

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $151.29
  • 4 Days on Market
  • MLS # : 7930915
  • Updated Date : 02/12/2021 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,008 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Adorable, move-in ready 1-story with 3 bedrooms, 2 full bathrooms and 2-car garage. Ideal open concept living, dining and kitchen. Home features 9' ceilings, tile in main living areas with recent neutral paint, handsome laminate wood floors in bedrooms, updated lighting fixtures and ceiling fans, 2" blinds and lovely drapery conveys. Kitchen features stainless steel appliances, oak cabinets and refrigerator stays! Private primary suite updated in 2019 with a Revita Jet Whole Body Hydrotherapy System. Utility closet is conveniently in the home with washer and dryer included. Enjoy your private backyard area with remote controlled retractable awning installed in 2020. Nice extended concrete patio with plenty of green space for gardening and kiddos or furry friends to play. HOA includes mowing of front lawn and access to community park and splash-pad. Owner maintains front landscaping beds and fenced-in area. Easy access to I-45, Grand Parkway, retail shopping and Klein school district.

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: Park at Meadowhill Run

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $80k270k

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

Neighborhood: Park at Meadowhill Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8751932

* 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
Zwink Elementary School Primary Unknown NA
Schindewolf Intermediate School Middle Regular 1,321 78 6
Klein Collins High School High Regular 3,580 201 6

Zwink Elementary School

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

Schindewolf Intermediate School

  • Education Level: Middle
  • # of students: 1,321
  • # of teachers: 78
6
GreatSchools Rating

Klein Collins High School

  • Education Level: High
  • # of students: 3,580
  • # of teachers: 201
6
GreatSchools Rating
 

$137,250$167,750$152,500

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$530
Property Tax -$395
Property Insurance -$95
HOA -$51
Property Management Fees -$99
CASH FLOW
$71

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.

$152,500

PROJECTED PRICE

$1,240

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,163

INVESTMENT

$46,163

Down Payment
$38,125
Rehab Estimate
$5,750
Closing Costs
$2,288

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$530

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,125
Loan Amount $114,375
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$5,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $1,094

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,2993$1,3754$1,4255$1,450
$1,450
RENT COMPS ANALYSIS
  • 3902 Mossy Place Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,008 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $1.23
    •  
  • 3963 Mossy Spring Lane Spring, TX 2
    • 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,251 Sqft ∙ Built 2011
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.04
    •  
  • 3911 Mossy Spring Lane Spring, TX 3
    • 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,243 Sqft ∙ Built 2012
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.11
    •  
  • 2930 Ribbon Creek Way Spring, TX 4
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2009
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.10
    •  
  • 3138 Aspen Fair Trail Spring, TX 5
    • 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,325 Sqft ∙ Built 2009
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.09
    •  
PROPERTY LISTING DETAILS
Esanet Benedict
1.832.301.1354
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 #: 7930915
Last Updated: 02/12/2021
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