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5611 Glenfield Spring Lane Spring, TX 77389

4 Beds 3 Baths 2,395 sqft Built 2014

$260,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $108.56
  • 6 Days on Market
  • MLS # : 80668188
  • Updated Date : 01/06/2021 at 12:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,395 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Move in ready! Open concept 1.5 story, 4 bedroom, 3 full bath home. Brick lay tile throughout the main living with hardwood floors in the study. The kitchen features granite countertops, island with breakfast bar, dining area and is open to the family room. The family room features fireplace and leads to the back covered patio. Primary suite down with double sinks and walk-in closet. Two additional beds down. Game room up with fourth bedroom. Close to HWY 99, shopping and restaurants.

SEE MORE

MARKET HIGHLIGHTS

  • 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)

PRICE & RENT TRENDS

Neighborhood: Grogan's Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Grogan's Mill

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
French Elementary School Primary Regular NA
Hofius Intermediate Middle Regular NA
Klein Oak High School High Regular 3,883 230 7

French Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Hofius Intermediate

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Klein Oak High School

  • Education Level: High
  • # of students: 3,883
  • # of teachers: 230
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$903
Property Tax -$764
Property Insurance -$189
HOA -$77
Property Management Fees -$99
CASH FLOW
$218

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.

$260,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$12,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $2,209

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,995
1$1,9952$2,1953$2,2504$2,3005$2,300
$2,300
RENT COMPS ANALYSIS
  • 5611 Glenfield Spring Lane Spring, TX 3
    • 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,395 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.94
    •  
  • 5438 Glenfield Spring Lane Spring, TX 1
    • 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,249 Sqft ∙ Built 2014
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.89
    •  
  • 5623 S Denham Ridge Lane Spring, TX 2
    • 4 beds 2 baths ∙ 2,510 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,510 Sqft ∙ Built 2015
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.87
    •  
  • 5411 Claymore Meadow Lane Spring, TX 4
    • 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,310 Sqft ∙ Built 2014
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 24511 Rossmore Hill Court Spring, TX 5
    • 4 beds 2 baths ∙ 2,467 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,467 Sqft ∙ Built 2014
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.93
    •  
PROPERTY LISTING DETAILS
Diane Kink
1.281.364.4828
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 #: 80668188
Last Updated: 01/06/2021
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