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5710 That Way Kingwood, TX 77339

4 Beds 3 Baths 2,262 sqft Built 2013

$229,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $101.24
  • 4 Days on Market
  • MLS # : 32646698
  • Updated Date : 01/09/2021 at 08:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,262 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Beautiful two story home located in the lovely community of North Kingwood Forest. Fantastic curb appeal with fresh landscaping and sprinkler system. This 4 bedroom home has a welcoming formal entry with high ceilings and an open floor plan. Great kitchen with wood-look flooring, breakfast bar and a very large walk-in pantry. Spacious owner’s retreat on the first floor with en-suite bath and a walk-in closet. Three nice-sized bedrooms and a second full bath are located upstairs. Commercial grade gutters, energy efficient windows, and built-in attic space above the garage for extra storage needs. Conveniently located near Bush airport with easy access to 99, 59/69 and the Valley Ranch Town Center. Humble ISD schools! Did not flood, high and dry! – per sellers.

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: North Kingwood Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $110k305k

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

Neighborhood: North Kingwood Forest

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
Elm Grove Elementary School Primary Regular 488 35 6
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Elm Grove Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 35
6
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$795
Property Tax -$544
Property Insurance -$180
HOA -$31
Property Management Fees -$99
CASH FLOW
$110

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.

$229,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.7%
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

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$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$7,966

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,764

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,725
1$1,7252$1,7503$1,7504$1,7605$1,775
$1,775
RENT COMPS ANALYSIS
  • 5710 That Way Kingwood, TX 4
    • 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,262 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.78
    •  
  • 3210 This Way Humble, TX 1
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2003
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.81
    •  
  • 3123 Right Way Houston, TX 2
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2013
    property image
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 3418 Any Way Kingwood, TX 3
    • 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,247 Sqft ∙ Built 2013
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 3119 Right Way Kingwood, TX 5
    • 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,380 Sqft ∙ Built 2013
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.75
    •  
PROPERTY LISTING DETAILS
David Patton
1.713.854.8881
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32646698
Last Updated: 01/09/2021
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