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5310 Lost Cove Lane Spring, TX 77373

3 Beds 3 Baths 1,845 sqft Built 2005

$185,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

$54,775

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.1%)
1 YR. PROJ. APPRECIATION


Cap Rate	4.0%
Cash Flow	$2,604
Value Increase	$9,785

10 YEAR

Cash On Cash	0.0%
Total Return	11.0%

PROPERTY INFO

January 08, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2005
Price/Sqft : $100.27
3 Days on Market
MLS # : 66838108
Updated Date : 01/09/2021 at 15:57

CONSTRUCTION

Beds : 3
Floor Size : 1,845 sqft
Baths : 3 full

Listing Agent

Executive Global Realty

Listing Agent's Description

COZY and BEAUTIFUL home with an inviting open concept and natural light! With dark flooring throughout out the living room area, an elegant fireplace and fresh paint around the house! Also with a huge flex space upstairs that could be use as an office space or game room and let's not forget about the spacious backyard for your parties and bbq gatherings !! Easy access to 45, 99, 59 and Hardy toll road!! You MUST see this home , it will not last!!

5310 Lost Cove Ln

Spring, Texas

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MARKET HIGHLIGHTS

Houston Market Report

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)

Neighborhood: Spring

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

Neighborhood: Spring

* 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
Chet Burchett Elementary School	Primary	Regular	681	46	5
Dueitt Middle School	Middle	Regular	954	59	5
Spring High School	High	Regular	3,339	173	3

Chet Burchett Elementary School

Education Level: Primary
# of students: 681
# of teachers: 46

GreatSchools Rating

Dueitt Middle School

Education Level: Middle
# of students: 954
# of teachers: 59

GreatSchools Rating

Spring High School

Education Level: High
# of students: 3,339
# of teachers: 173

GreatSchools Rating

FINANCIALS

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$166,500$203,50000$185,000

PURCHASE PRICE

$1,422$1,73800$1,580

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,580
EXPENSES	Loan Payment	-$643
	Property Tax	-$445
	Property Insurance	-$152
	HOA	-$25
	Property Management Fees	-$99



CASH FLOW $217

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.

$185,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.94%
Appreciation Year (1-5)	5.1%
Maintenance Year (1-5)	8.00%
Vacancy	8.80%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$54,775

Down Payment	$46,250
Rehab Estimate	$5,750
Closing Costs	$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$46,250
Loan Amount	$138,750

See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$16,656

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,580
LIST RENT
$0.86
LIST RENT PER SQFT

$1,554
COMP ESTIMATED VALUE
$0.84
COMP AVG. RENT PER SQFT

Comps Range

$1,449

1$1,4492$1,4503$1,4954$1,5805$1,800

$1,800

RENT COMPS ANALYSIS

1,845
PROPERTY SQFT
$0.84
AVG RENT PER SQFT
$1,554
ESTIMATED VALUE
$1,580
LIST RENT

5310 Lost Cove Lane Spring, TX 4

3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2005
Price

Price Per SQFT

$185,000

$100.27
23802 Goodfellow Drive Spring, TX 1

4 beds 2 baths ∙ 1,838 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,838 Sqft ∙ Built 1997
SOLD 12/18/20
Price

Price Per SQFT

$177,000

$96.30
23919 Clipper Hill Lane Spring, TX 2

3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 2007
SOLD 12/09/20
Price

Price Per SQFT

$181,963

$103.10
5035 Hickorygate Drive Spring, TX 3

3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1996
SOLD 09/21/20
Price

Price Per SQFT

$185,000

$105.11
23603 Rustic Oak Court Spring, TX 5

3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,981 Sqft ∙ Built 2006
SOLD 07/16/20
Price

Price Per SQFT

$194,000

$97.93

5310 Lost Cove Lane Spring, TX 4

3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,845 Sqft ∙ Built 2005
Rent

Rent Per SQFT

$1,580

$0.86
24022 Holleygate Court Spring, TX 1

3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,767 Sqft ∙ Built 2003
LEASED 02/06/20
Rent

Rent Per SQFT

$1,449

$0.82
5130 Bright Oak Court Spring, TX 2

3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2004
LEASED 04/06/20
Rent

Rent Per SQFT

$1,450

$0.82
5018 Hickorygate Drive Spring, TX 3

3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 1996
LEASED 03/19/20
Rent

Rent Per SQFT

$1,495

$0.80
5026 Hickorygate Drive Spring, TX 5

3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 1996
LEASED 05/10/20
Rent

Rent Per SQFT

$1,800

$0.93

PROPERTY LISTING DETAILS

Sarai Rumph
1.832.808.9395
Executive Global Realty

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 66838108
Last Updated: 01/09/2021

5310 Lost Cove Lane Spring, TX 77373

$185,000

$1,580

$54,775

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Chet Burchett Elementary School

Dueitt Middle School

Spring High School

FINANCIALS

$166,500$203,50000$185,000

$1,422$1,73800$1,580

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$185,000

$1,580

0.85%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$643

7.25

$16,656

$185,000

$100.27

$185,625

$100.61

COMPS RANGE

PRICE COMPS ANALYSIS

$1,580

$0.86

$1,554

$0.84

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS