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5107 Village Springs Drive Houston, TX 77339

4 Beds 2 Baths 1,894 sqft Built 1982

$199,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $105.07
  • 5 Days on Market
  • MLS # : 55142181
  • Updated Date : 11/07/2020 at 11:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,894 sqft
  • Baths : 2 full
Listing Agent

Utr Texas, Realtors

Listing Agent's Description

IMPRESSIVE OPEN FLOOR PLAN HOME LOCATED ON A QUIET TREE-LINED STREET. CHARMING DETAILS INCLUDE HANDSOME TILE PLANK FLOORING, CATHEDRAL CEILINGS, DECORATIVE SHELVING & A GORGEOUS TILED GAS FIREPLACE ANCHORING THE LARGE FAMILY ROOM. AN ABUNDANCE OF NATURAL LIGHT COMES FROM THE MANY WINDOWS WHICH ARE ENERGY EFFICIENT DOUBLE PANE WINDOWS. HOME BOASTS CUSTOM KITCHEN CABINETS, SOLID SURFACE COUNTERTOPS, HIGH-END STAINLESS APPLIANCES & A 5 BURNER GAS RANGE. FLEX ROOM IS CURRENTLY BEING USED AS A STUDY / PLAYROOM, BUT COULD EASILY BE A 4TH BEDROOM. LUXURIOUS MASTER EN-SUITE WITH DUAL BASINS, DUAL CLOSETS, SKYLIGHT, TUB / SHOWER WITH EXQUISITE TILE DETAILING. BEAUTIFUL TILE DETAILING IN THE SECONDARY BATH, AS WELL. PLENTY OF OUTDOOR ENTERTAINING SPACE IN THE BACKYARD. WONDERFUL SHADED FRONT & BACK YARDS KEEP THE HOME NICE & COOL IN THE SUMMER MONTHS. FRIENDLY SUBDIVISION RESIDENTS ENJOY WOODED GREENBELT TRAILS, WALKING TRAILS, PARKS & COMMUNITY SWIMMING POOLS. TRULY A GEM!

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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: Panay at Park Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Panay at Park Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8811677

* 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
John E Codwell Elementary School Primary Magnet 524 34 2
Thomas Middle School Middle Regular 476 32 3
Sterling High School High Magnet 1,060 60 2

John E Codwell Elementary School

  • Education Level: Primary
  • # of students: 524
  • # of teachers: 34
2
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Sterling High School

  • Education Level: High
  • # of students: 1,060
  • # of teachers: 60
2
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$734
Property Tax -$420
Property Insurance -$155
HOA -$32
Property Management Fees -$99
CASH FLOW
$210

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$199,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$22,235

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,624

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 5107 Village Springs Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,894 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 12515 Donegal Way Houston, TX 1
    • 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1966 3 beds 2 baths ∙ 1,757 Sqft ∙ Built 1966
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 5118 Village Springs Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1982
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 5014 Brisbane Drive Houston, TX 3
    • 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1962 4 beds 2 baths ∙ 1,914 Sqft ∙ Built 1962
    property image
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 5226 Village Springs Drive Houston, TX 4
    • 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,058 Sqft ∙ Built 1982
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
PROPERTY LISTING DETAILS
Kathleen Karing
1.832.270.5151
Utr Texas, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55142181
Last Updated: 11/07/2020
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