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5722 Logan Park Drive Spring, TX 77379

4 Beds 3 Baths 2,408 sqft Built 2001

INVESTimate

$234,900

List Price

$1,920

$1,728 - $2,112

Rent Est.

$246,833  ( +5.08%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $97.55
  • 26 Days on Market
  • MLS # : 30980700
  • Updated Date : 08/24/2020 at 14:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,408 sqft
  • Baths : 2 full , 1 half
Listing Agent

Champions Real Estate Group

Listing Agent's Description

Beautiful four bedroom home located in a gated community and zoned to Klein ISD schools! This home features both formals, high ceilings, and no carpet downstairs. The kitchen has plenty of counter space, is light and bright, and opens up to the spacious family room with its two-story high ceiling and fireplace. The first-floor master bedroom has hardwood floors and a large en-suite with double sinks. All of the secondary bedrooms are upstairs, they are roomy and have good closet space. In the easy-to-maintain fenced-in backyard you will find a large patio area, a great space to BBQ! HOA Fees include lawn service. Schedule your showing today!

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: Spring Creek Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k355k

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

Neighborhood: Spring Creek Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200230024002500Rent in $10722508

* 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
Kuehnle Elementary School Primary Regular 766 50 7
Kleb Intermediate School Middle Regular 1,396 76 6
Klein High School High Regular 3,885 228 6

Kuehnle Elementary School

  • Education Level: Primary
  • # of students: 766
  • # of teachers: 50
7
GreatSchools Rating

Kleb Intermediate School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 76
6
GreatSchools Rating

Klein High School

  • Education Level: High
  • # of students: 3,885
  • # of teachers: 228
6
GreatSchools Rating
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$867
Property Tax -$553
Property Insurance -$190
HOA -$129
Property Management Fees -$99
CASH FLOW
$82

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.

$234,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.08%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$6,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,890

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8504$1,9005$1,920
$1,920
RENT COMPS ANALYSIS
  • 5722 Logan Park Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,408 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.80
    •  
  • 16706 Dover Mills Drive Spring, TX 1
    • 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,213 Sqft ∙ Built 2012
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 5702 Logan Park Drive Spring, TX 2
    • 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,527 Sqft ∙ Built 2005
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 16418 Dover Mills Drive Spring, TX 3
    • 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,360 Sqft ∙ Built 2013
    property image
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 5506 Nodaway Lane Spring, TX 4
    • 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,392 Sqft ∙ Built 1982
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.79
    •  
PROPERTY LISTING DETAILS
Antonio Cardenas
1.713.376.3146
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 30980700
Last Updated: 08/24/2020
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