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5315 Jasper Grove Court Houston, TX 77345

4 Beds 3 Baths 2,606 sqft Built 1993

INVESTimate

$265,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$282,941  ( +6.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $101.69
  • 6 Days on Market
  • MLS # : 32869306
  • Updated Date : 08/22/2020 at 12:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,606 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

This is an amazing updated David Weekley home! Fresh Paint downstairs, renovated kitchen with stainless steel appliances! Very open layout - formal living, formal dining, then onto the family room that is open to the kitchen! Master bedroom down with gorgeous new master bath! Freestanding tub, frameless glass enclosed shower, double vanities too! Upstairs you have 3 bedrooms and a nice game room! Out back you have a shaded deck, hot tub with screened enclosure, and still room to play! Washer, Dryer, and Refrigerator to stay! Greenbelt at the end of cul de sac, walking distance to pool and park! Amazing schools! Make sure to come see this one ASAP!

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: Mills Branch Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Mills Branch Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Hidden Hollow Elementary School Primary Regular 521 35 7
Creekwood Middle School Middle Regular 1,094 62 9
Kingwood High School High Regular 2,610 140 9

Hidden Hollow Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 35
7
GreatSchools Rating

Creekwood Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 62
9
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$978
Property Tax -$559
Property Insurance -$203
HOA -$39
Property Management Fees -$99
CASH FLOW
$122

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.

$265,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.77%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,981

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$1,9754$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 5315 Jasper Grove Court Houston, TX 5
    • 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,606 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 4030 Echo Mountain Drive Houston, TX 1
    • 4 beds 2 baths ∙ 2,440 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,440 Sqft ∙ Built 1994
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.74
    •  
  • 5211 High Glen Court Houston, TX 2
    • 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,551 Sqft ∙ Built 1993
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.76
    •  
  • 3414 Appalachian Trail Houston, TX 3
    • 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 1991
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.74
    •  
  • 3938 Echo Mountain Drive Houston, TX 4
    • 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,492 Sqft ∙ Built 1994
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
PROPERTY LISTING DETAILS
Michael Brown
1.713.598.1215
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32869306
Last Updated: 08/22/2020
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