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5906 Vinland Shores Court Spring, TX 77379

5 Beds 4 Baths 2,877 sqft Built 2011

INVESTimate

$290,000

List Price

$2,130

$1,917 - $2,343

Rent Est.

$302,789  ( +4.41%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2011
  • Price/Sqft : $100.80
  • 26 Days on Market
  • MLS # : 92232696
  • Updated Date : 08/20/2020 at 20:23
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,877 sqft
  • Baths : 3 full , 1 half
Listing Agent

Lions Gate Realty

Listing Agent's Description

Don't miss your opportunity to live in this BEAUTIFUL, two story, concept home! Greeted by an open, spacious portico, with a lovely entryway covered by an awning. Walking inside you'll have beautiful hardwood floor surrounding most all the downstairs area. In the kitchen you'll find nut-brown tile floors, that compliment the lightly colored granite counter tops. Sturdy cocoa-colored cabinets surrounding the kitchen. Adjacent is the living room perfectly sized for gatherings and hanging out. All complimented with an office perfectly placed downstairs. Upstairs you will find bedrooms ideally sized, complimented with individual bathrooms. Sink countertops and cabinets matching the beautifully colored and designed downstairs kitchen. Gorgeous spacious backyard perfect for innumerable activities. Topped with a two-car garage in amazing condition.

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

Zip Code: 77379

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k310k

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

Zip Code: 77379

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722111

* 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
Krimmel Intermediate School Middle Regular 1,229 72 7
Klein High School High Regular 3,885 228 6

Kuehnle Elementary School

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

Krimmel Intermediate School

  • Education Level: Middle
  • # of students: 1,229
  • # of teachers: 72
7
GreatSchools Rating

Klein High School

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

$261,000$319,000$290,000

PURCHASE PRICE

$1,917$2,343$2,130

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,130
EXPENSES Loan Payment -$1,070
Property Tax -$683
Property Insurance -$222
Property Management Fees -$99
CASH FLOW
$57

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.

$290,000

PROJECTED PRICE

$2,130

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.41%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$7,773

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,130

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,122

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,1003$2,1304$2,1505$2,395
$2,395
RENT COMPS ANALYSIS
  • 5906 Vinland Shores Court Spring, TX 3
    • 4 beds 4 baths ∙ 2,877 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,877 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,130
    • $0.74
    •  
  • 20263 Eden Pines Spring, TX 1
    • 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,706 Sqft ∙ Built 1999
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.68
    •  
  • 19402 Valiant Woods Drive Spring, TX 2
    • 4 beds 4 baths ∙ 2,977 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,977 Sqft ∙ Built 2006
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.71
    •  
  • 5914 Ericson Court Spring, TX 4
    • 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 2008
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.78
    •  
  • 6018 Lofty Lane Spring, TX 5
    • 5 beds 4 baths ∙ 3,077 Sqft ∙ Built 2013 5 beds 4 baths ∙ 3,077 Sqft ∙ Built 2013
    LEASED 07/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $0.78
    •  
PROPERTY LISTING DETAILS
Nathan Balderas
1.713.389.8322
Lions Gate Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 92232696
Last Updated: 08/20/2020
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