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47 W New Avery Place The Woodlands, TX 77382

3 Beds 3 Baths 1,904 sqft Built 1998

$282,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $148.11
  • 8 Days on Market
  • MLS # : 6559566
  • Updated Date : 11/25/2020 at 10:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Nestled amongst the trees is this charming and cozy 3 bedroom, 2/1 bath Life Forms home exuding classic style and a welcoming front porch. Situated in the lovely community of Alden Branch, the neighborhood is like a storybook with its wooded lots and cottage style homes. Conveniently located near schools, shops, dining, paths, and access to main roads leading to I-45. The FLEXIBLE floor plan has a neutral color palette. Step inside the main Living Room/Dining Room combination with high ceilings, abundant natural light, and laminate plank flooring. The Kitchen and Family Room has a stacked stone fireplace with endless layout options. Updated Kitchen has white cabinetry, stainless steel appliances, granite, and island. Upstairs is the amazing Primary Bedroom with private balcony and en-suite bath, a Game Room and two Secondary Bedrooms. Large backyard with plenty of room to play or future pool. Recent HVAC 2018, Appliances 2019, Carpet 2019. Low Taxes. Never Flooded. Welcome Home!

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: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722322

* 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
Bush Elementary School Primary Regular 698 42 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Bush Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
10
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

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

$253,800$310,200$282,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$1,040
Property Tax -$561
Property Insurance -$137
Property Management Fees -$99
CASH FLOW
$63

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.

$282,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$10,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,966

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9003$1,9504$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 47 W New Avery Place The Woodlands, TX 2
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 6 Green Slope The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1987
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 23 Lamps Glow Place Spring, TX 3
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 10 Wind Harp Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,976 Sqft ∙ Built 1995
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.06
    •  
  • 140 S Winterport Circle Spring, TX 5
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Amy Raper
1.713.203.8950
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6559566
Last Updated: 11/25/2020
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