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5510 Village Springs Drive Kingwood, TX 77339

4 Beds 3 Baths 2,591 sqft Built 1987

$225,000

List Price

$2,510

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $86.84
  • 2 Days on Market
  • MLS # : 89651838
  • Updated Date : 03/06/2021 at 16:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,591 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

AWSEOME REMODEL!!Easy care Tile Floors grace the Entry and flow into the Formals and Open Concept Kit/Brk/Den.Hardwood Floors on the staircase are eye catching upon entering.Two Story Formal Living Room connects to the Formal Dining.Cozy Den features a stacked fireplace and windows to view the backyard.Gourmet island kitchen features exotic granite,designer backsplash,stainless steel appliances,gas cooktop/range.The charming brk room has a bay window.Check out the powder room:furniture style vanity w faucet has lighting.The primary suite is located on the first floor.Relax in the spa-like bathroom,features a vanity with dual sinks,soaking tub and a separate shower.Upstairs offers a gameroom,3 additional bedrooms an an updated bathroom.ROOF-2017; 14 SEER HVAC w 10 year transferrable warranty-2019. WOW!Home flooded in 2019 only,did not flood during Harvey.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Greentree Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k312k

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

Neighborhood: Greentree Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722380

* 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
Shadow Forest Elementary School Primary Regular 578 34 10
Riverwood Middle School Middle Regular 1,101 60 10
Kingwood High School High Regular 2,610 140 9

Shadow Forest Elementary School

  • Education Level: Primary
  • # of students: 578
  • # of teachers: 34
10
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,101
  • # of teachers: 60
10
GreatSchools Rating

Kingwood High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$2,259$2,761$2,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,510
EXPENSES Loan Payment -$782
Property Tax -$821
Property Insurance -$202
HOA -$24
Property Management Fees -$99
CASH FLOW
$583

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.

$225,000

PROJECTED PRICE

$2,510

PROJECTED RENT

1.12%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

12.17

YEARS SAVED

$43,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,510

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,222

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,3003$2,3004$2,5005$2,510
$2,510
RENT COMPS ANALYSIS
  • 5510 Village Springs Drive Kingwood, TX 5
    • 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,591 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,510
    • $0.97
    •  
  • 5319 Sycamore Creek Drive Kingwood, TX 1
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1983
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 4217 Brook Shadow Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 1991
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.83
    •  
  • 5715 Rocky Brook Drive Houston, TX 3
    • 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 1986 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 1986
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.82
    •  
  • 5622 Lone Cedar Drive Kingwood, TX 4
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 1984
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Karen Fahrmeier
1.281.389.2798
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 #: 89651838
Last Updated: 03/06/2021
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