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4507 Pineville Lane Spring, TX 77388

3 Beds 2 Baths 1,914 sqft Built 1980

$172,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $89.86
  • 5 Days on Market
  • MLS # : 91619922
  • Updated Date : 12/23/2020 at 19:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,914 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Platinum

Listing Agent's Description

Fall in love with this charming home nestled in the quiet community of Bridgestone. Enjoy all of the incredible neighborhood amenities, including the clubhouse, pool, tennis courts, playground, and soccer field. The 3-bedroom, 2-bathroom home boasts a brick elevation, built-in furniture, a study with French doors and walk in closet (flex room), and an open great room with high ceilings and a wood-burning fireplace. The kitchen is complete with an electric range and a breakfast bar. Relax in the tranquil primary suite, fully equipped with a walk-in closet and dual vanities with knee space. Additional features include a covered patio and a storage shed in the spacious backyard. Located off the Grand Parkway and I-45, residents have easy access to a variety of restaurants, shops, and entertainment at Old Town Spring and the Woodlands Mall. Students attend schools zoned to Klein ISD. Call today for more information!

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: Bridgestone

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $95k270k

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

Neighborhood: Bridgestone

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900Rent in $8791932

* 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
Roth Elementary School Primary Regular 696 47 6
Schindewolf Intermediate School Middle Regular 1,321 78 6
Klein Collins High School High Regular 3,580 201 6

Roth Elementary School

  • Education Level: Primary
  • # of students: 696
  • # of teachers: 47
6
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
 

$154,800$189,200$172,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$635
Property Tax -$406
Property Insurance -$157
HOA -$23
Property Management Fees -$99
CASH FLOW
$321

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.

$172,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.95%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.0%
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$500k$600k$700k

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$51,330

INVESTMENT

$51,330

Down Payment
$43,000
Rehab Estimate
$5,750
Closing Costs
$2,580

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$635

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,000
Loan Amount $129,000
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$31,775

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,680

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6003$1,6404$1,6455$1,650
$1,650
RENT COMPS ANALYSIS
  • 4507 Pineville Lane Spring, TX 3
    • 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,914 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.86
    •  
  • 21505 Slippery Creek Lane Spring, TX 1
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 1979
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 21702 N Tangle Creek Lane Spring, TX 2
    • 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,742 Sqft ∙ Built 1990
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
  • 4403 Pineville Lane Spring, TX 4
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1980
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.86
    •  
  • 4814 Temple Bell Drive Spring, TX 5
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1989
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91619922
Last Updated: 12/23/2020
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