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47 W Trace Creek Drive The Woodlands, TX 77381

3 Beds 3 Baths 2,469 sqft Built 1988

$312,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $126.37
  • 3 Days on Market
  • MLS # : 80439550
  • Updated Date : 12/11/2020 at 19:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,469 sqft
  • Baths : 3 full
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Great curb appeal with this LifeForms home in Indian Springs! Covered front porch, freshly landscaped, all new wood flooring downstairs, replaced kitchen sink, disposal and microwave. Formal dining and study; den has wall of windows, built-in shelving and gas log fireplace; all three bedrooms up; screened-in porch overlooks the sparkling pool and wood decking.

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: Village of Indian Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k418k

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

Neighborhood: Village of Indian Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10722631

* 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
Glen Loch Elementary School Primary Regular 640 37 6
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Glen Loch Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 37
6
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
 

$280,800$343,200$312,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,151
Property Tax -$589
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
$191

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.

$312,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.8%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,151

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,572

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,469

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3454$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 47 W Trace Creek Drive The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,469 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 86 W Wilde Yaupon Spring, TX 1
    • 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,154 Sqft ∙ Built 1988
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 21 Diamond Oak Court The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,330 Sqft ∙ Built 1982
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,345
    • $1.01
    •  
  • 59 S Trace Creek Drive The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1988
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 4 E Torch Pine Circle The Woodlands, TX 5
    • 3 beds 3 baths ∙ 2,361 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,361 Sqft ∙ Built 1990
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.06
    •  
PROPERTY LISTING DETAILS
Michael Seder
1.281.602.8820
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80439550
Last Updated: 12/11/2020
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