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4610 Rivertree Lane Spring, TX 77388

3 Beds 2 Baths 1,231 sqft Built 1981

$170,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $138.10
  • 3 Days on Market
  • MLS # : 60256813
  • Updated Date : 03/12/2021 at 19:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,231 sqft
  • Baths : 2 full
Listing Agent

Carswell Real Estate Co. Inc.

Listing Agent's Description

Adorable open concept home on cul-de-sac in older established Bridgestone subdivision in Klein ISD. Open floor plan with cathedral ceiling in living room with beautiful tile planked flooring with nice size back yard. Neighborhood amenities include community pool, tennis courts and park. New roof in 2015, AC - 2012, New flooring in living area- 2019, All hardware replaced in 2017, back door replaced and storm door added - 2019 and many more recent updates. Tucked away from the hustle and bustle but close to all dining, shopping, and entertainment venues. Close to I 45 Grand Parkway, FM 2920 and FM 1960.

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: 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
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$590
Property Tax -$400
Property Insurance -$110
HOA -$29
Property Management Fees -$99
CASH FLOW
$101

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.

$170,000

PROJECTED PRICE

$1,330

PROJECTED RENT

0.78%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$8,122

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,323

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3303$1,3504$1,3505$1,400
$1,400
RENT COMPS ANALYSIS
  • 4610 Rivertree Lane Spring, TX 2
    • 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.08
    •  
  • 21022 Rivershadows Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1981
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.10
    •  
  • 21023 Fernhollow Lane Spring, TX 3
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 1984
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
  • 21015 Fernhollow Lane Spring, TX 4
    • 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,231 Sqft ∙ Built 1984
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.10
    •  
  • 21006 Verdecove Lane Spring, TX 5
    • 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,270 Sqft ∙ Built 1981
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.10
    •  
PROPERTY LISTING DETAILS
Nita Mcnulty
1.713.569.7320
Carswell Real Estate Co. Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 60256813
Last Updated: 03/12/2021
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