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4903 Siros Isle Court Spring, TX 77388

4 Beds 3 Baths 2,781 sqft Built 2003

$250,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $89.90
  • 5 Days on Market
  • MLS # : 42673887
  • Updated Date : 01/06/2021 at 13:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,781 sqft
  • Baths : 2 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

NEW ROOF January 2021! Dishwasher replaced 2018, disposal replaced 2019, oven replaced March 2020, microwave replaced 2019 and under cabinet lighting added 2019. Washer/dryer/fridge are negotiable. New ceiling fans 2020 in all bedrooms. New ceiling fan with remote 2018 in den/family room. Large backyard with playset. Mature trees in front yard. ALL BEDROOMS UP. New vinyl plank in downstairs powder room. HVAC serviced and checked December 2020. Garage door opener serviced in December 2020. Electrician serviced panel December 2020. TPR valve replaced December 2020. Nest doorbell. This home is ready for a new owner to make it their own!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Rhodes Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k270k

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

Neighborhood: Rhodes Landing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9331932

* 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
Zwink Elementary School Primary Unknown 919 58 NA
Schindewolf Intermediate School Middle Regular 1,321 78 6
Klein Collins High School High Regular 3,580 201 6

Zwink Elementary School

  • Education Level: Primary
  • # of students: 919
  • # of teachers: 58
NA
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
 

$225,000$275,000$250,000

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 -$868
Property Tax -$589
Property Insurance -$215
HOA -$34
Property Management Fees -$99
CASH FLOW
$95

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.

$250,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.8%
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-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,878

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
  • $0.68

    LIST RENT PER SQFT
  • $2,093

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1003$2,1504$2,2005$2,200
$2,200
RENT COMPS ANALYSIS
  • 4903 Siros Isle Court Spring, TX 1
    • 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,781 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
  • 21607 Rudy Glen Court Spring, TX 2
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2011
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 4631 Bridgestone Bend Drive Spring, TX 3
    • 5 beds 3 baths ∙ 2,931 Sqft ∙ Built 2008 5 beds 3 baths ∙ 2,931 Sqft ∙ Built 2008
    property image
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.73
    •  
  • 22015 Bridgestone Oak Drive Spring, TX 4
    • 3 beds 3 baths ∙ 2,913 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,913 Sqft ∙ Built 2004
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 21511 Canvasback Glen Court Spring, TX 5
    • 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2012 5 beds 4 baths ∙ 2,956 Sqft ∙ Built 2012
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.74
    •  
PROPERTY LISTING DETAILS
Elizabeth Hensley
1.832.253.5275
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 42673887
Last Updated: 01/06/2021
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