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51 N Marshside Place Spring, TX 77389

4 Beds 4 Baths 2,837 sqft Built 2012

$375,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $132.18
  • 6 Days on Market
  • MLS # : 58615158
  • Updated Date : 02/26/2021 at 21:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,837 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful Grace Point home with stone elevation and inviting front porch. This home features ceramic tile, hardwood flooring in the dining room, with 2 bedrooms DOWN, 3.5 baths and large game room up. Open concept living with soaring 20 ft cathedral ceilings, large living area with fireplace. This floorplan flows easily into dining, kitchen and breakfast room. Upgrades throughout that include new water heater (2021), frameless shower and mud set shower, framed mirrors in the primary bath room. A/C coil updated in 2019, extended back patio with lush landscaping to give you tranquility and relaxation. Located on a family friendly cul de sac street within walking distance to Timber Creek Elementary, parks, trails, restaurants, shopping and the new movie theater. This home is a MUST SEE!

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: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10723103

* 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
Timber Creek Elementary School Primary Unknown 656 41 10
Tomball Junior High School Middle Regular 922 56 7
Tomball High School High Regular 1,624 93 8

Timber Creek Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
10
GreatSchools Rating

Tomball Junior High School

  • Education Level: Middle
  • # of students: 922
  • # of teachers: 56
7
GreatSchools Rating

Tomball High School

  • Education Level: High
  • # of students: 1,624
  • # of teachers: 93
8
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,303
Property Tax -$879
Property Insurance -$210
Property Management Fees -$99
CASH FLOW
$0

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.

$375,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.0%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,483

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,4003$2,4904$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 51 N Marshside Place Spring, TX 3
    • 4 beds 4 baths ∙ 2,699 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,699 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.92
    •  
  • 3 Painted Post Place The Woodlands, TX 1
    • 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2012
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 42 Whistling Swan The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 2013
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 19 S Whistling Swan Place Spring, TX 4
    • 4 beds 4 baths ∙ 2,651 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,651 Sqft ∙ Built 2012
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.96
    •  
  • 10 S Whistling Swan Place Spring, TX 5
    • 4 beds 3 baths ∙ 2,739 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,739 Sqft ∙ Built 2012
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Eve Kneller
1.419.345.2937
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 58615158
Last Updated: 02/26/2021
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