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5610 Sequin Drive Spring, TX 77388

4 Beds 3 Baths 1,906 sqft Built 2005

$215,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $112.80
  • 6 Days on Market
  • MLS # : 37156328
  • Updated Date : 11/01/2020 at 15:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,906 sqft
  • Baths : 2 full , 1 half
Listing Agent

Illumi Real Estate

Listing Agent's Description

A wonderful floorplan - ready for new Owners on October 27th. Master Bedroom Down, gameroom upstairs. Blinds on the windows, Refrigerator and Washer/Dryer included. Hand-scraped wood flooring and granite in kitchen. Acclaimed Klein ISD schools. The PERFECT place to call HOME. Hurry! This one won't last long!!!

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: Gosling Pines

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Gosling Pines

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10332063

* 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
Mueller Elementary School Primary Regular 921 57 7
Schindewolf Intermediate School Middle Regular 1,321 78 6
Klein Collins High School High Regular 3,580 201 6

Mueller Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
7
GreatSchools Rating

Schindewolf Intermediate School

  • Education Level: Middle
  • # of students: 1,321
  • # of teachers: 78
6
GreatSchools Rating

Klein Collins High School

  • Education Level: High
  • # of students: 3,580
  • # of teachers: 201
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$793
Property Tax -$506
Property Insurance -$156
HOA -$31
Property Management Fees -$99
CASH FLOW
$54

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.

$215,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.0%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,644

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6993$1,7004$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 5610 Sequin Drive Spring, TX 1
    • 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,906 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.86
    •  
  • 21931 Gosling Cedar Place Spring, TX 2
    • 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,980 Sqft ∙ Built 2007
    property image
    LEASED 11/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,699
    • $0.86
    •  
  • 21735 Chanas Court Spring, TX 3
    • 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,000 Sqft ∙ Built 2005
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 21914 Gosling Cedar Place Spring, TX 4
    • 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,879 Sqft ∙ Built 2006
    property image
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
  • 21719 Tinsley Trail Spring, TX 5
    • 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,082 Sqft ∙ Built 2013
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
PROPERTY LISTING DETAILS
Trisha Lauter
1.832.693.1571
Illumi Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 37156328
Last Updated: 11/01/2020
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