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4806 Owens Creek Lane Spring, TX 77388

3 Beds 2 Baths 1,686 sqft Built 1980

$189,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $112.63
  • 5 Days on Market
  • MLS # : 10242695
  • Updated Date : 11/02/2020 at 09:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,686 sqft
  • Baths : 2 full
Listing Agent

Mark Dimas Properties

Listing Agent's Description

Beautifully updated single-story home featuring new wood vinyl plank throughout, recessed lighting, recent paint, an upgraded HVAC, updated light fixtures and dual-paned windows, new ceiling fans, and a sprinkler system! The open floor plan is great for entertaining and includes a spacious living room with a brick fireplace, a dining area, and an eat-in kitchen with new granite-look countertops, white painted cabinets, and stainless steel appliances. The large master suite boasts a remodeled bath with dual sinks, upgraded tile surround in the tub/shower, and a walk-in closet. The two secondary bedrooms share the adjacent full bath, and the backyard includes a nice covered patio! This home is located with easy access to the Grand Parkway, I-45, Hardy Toll Rd, and FM 2920!

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
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$701
Property Tax -$447
Property Insurance -$141
HOA -$25
Property Management Fees -$99
CASH FLOW
$87

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.

$189,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.79%

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,990

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,496

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4954$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 4806 Owens Creek Lane Spring, TX 4
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
  • 4726 Lost Lake Lane Spring, TX 1
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 1981
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 21303 Bridgepoint Lane Spring, TX 2
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1982
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.93
    •  
  • 4206 Spinks Creek Lane Spring, TX 3
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983
    LEASED 11/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.84
    •  
  • 21702 N Tangle Creek Lane Spring, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Mark Dimas
1.281.861.6199
Mark Dimas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10242695
Last Updated: 11/02/2020
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