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4122 Pedernales River Lane Spring, TX 77386

3 Beds 2 Baths 1,451 sqft Built 2010

$190,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $130.94
  • 4 Days on Market
  • MLS # : 2773339
  • Updated Date : 11/26/2020 at 16:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,451 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Lovingly cared for and super cute 1 story located on a quiet culdesac street. Easy care vinyl plank flooring. Open floor plan. Kitchen with granite counters, breakfast bar, and a 5 burner double oven electric range. Split floor plan offers privacy to primary bedroom with a large walk-in closet. Ensuite bathroom has separate shower and large soaking tub that you won't ever want to get out of. Gardener's backyard paradise with numerous landscape beds and beautiful Crepe Myrtles. Koi goldfish pond. Dine alfresco on the large (21x10) covered back patio. Refrigerator, Washer & Dryer INCLUDED. Ceiling fans. Energy efficient: Tech shield, double pane windows, high efficiency A/C, Pex plumbing manifold system. Short walk to community lake, trails and playground. Low tax rate. Zoned to sought after CONROE schools and walking distance to Bradley elementary. Super convenient location with quick access to Grand Pkwy, grocery stores, casual dining spots, and an under construction Regal Cinema

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: Creekside Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $77k305k

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

Neighborhood: Creekside Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8072063

* 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
Bradley Elementary Primary Unknown NA
York Junior High School Middle Regular 1,002 58 8
Grand Oaks High School High Unknown NA

Bradley Elementary

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

$171,000$209,000$190,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$701
Property Tax -$345
Property Insurance -$111
HOA -$42
Property Management Fees -$99
CASH FLOW
$273

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.

$190,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$28,009

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,571

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5004$1,5255$1,570
$1,570
RENT COMPS ANALYSIS
  • 4122 Pedernales River Lane Spring, TX 5
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.08
    •  
  • 4031 Pedernales River Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2009
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 4414 Nueces River Loop Spring, TX 2
    • 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,312 Sqft ∙ Built 2007
    property image
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.11
    •  
  • 28914 W Pecos River Court Spring, TX 3
    • 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,410 Sqft ∙ Built 2007
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 4079 Pedernales River Lane Spring, TX 4
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2010
    property image
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.05
    •  
PROPERTY LISTING DETAILS
Jill Wente
1.281.804.8626
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 #: 2773339
Last Updated: 11/26/2020
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