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5914 Rivergrove Bend Drive Humble, TX 77346

3 Beds 2 Baths 2,411 sqft Built 2016

$289,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $120.24
  • 3 Days on Market
  • MLS # : 44910513
  • Updated Date : 11/13/2020 at 16:33
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,411 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

IT COULD BE YOURS FOR THE HOLIDAYS! NEVER FLOODED & SHOWS LIKE A MODEL! Seller custom built One story home in Rivergrove that backs to a private community park with a screened in patio perfect for Texas Summer nights! Recent construction, high ceilings, tile flooring, and an open floor plan. Gourmet kitchen, complete with granite countertops, 42” cabinets, spacious pantry and stainless steel appliances. Primary suite is a private retreat with spa like bath; includes dual vanities, spacious walk-in closet and separate tub & shower. Convenient access to Hwy. 59, Beltway 8, ship channel or downtown Houston. Close to restaurants, shopping and medical facilities. Highly rated school in quiet desirable neighborhood. SPECIAL FINANCING with preferred lender does not charge lending fees and offers low competitive rates! AVAILABLE FOR A QUICK MOVE IN!

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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: Kings Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019200k300k400k500k600k700k800kPrice in $113k867k

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

Neighborhood: Kings Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10722999

* 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
Deerwood Elementary School Primary Regular 597 35 9
Riverwood Middle School Middle Regular 1,101 60 10
Kingwood High School High Regular 2,610 140 9

Deerwood Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 35
9
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,101
  • # of teachers: 60
10
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,070
Property Tax -$719
Property Insurance -$190
HOA -$67
Property Management Fees -$99
CASH FLOW
$56

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.

$289,900

PROJECTED PRICE

$2,200

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

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 $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,943

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,953

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,9004$2,0005$2,200
$2,200
RENT COMPS ANALYSIS
  • 5914 Rivergrove Bend Drive Humble, TX 5
    • 3 beds 2 baths ∙ 2,411 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,411 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.91
    •  
  • 19307 Oak Station Drive Humble, TX 1
    • 4 beds 2 baths ∙ 2,259 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,259 Sqft ∙ Built 1997
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.80
    •  
  • 20002 Water Point Trail Humble, TX 2
    • 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,433 Sqft ∙ Built 1999
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 20623 White Berry Court Humble, TX 3
    • 3 beds 2 baths ∙ 2,215 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,215 Sqft ∙ Built 1996
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
  • 5915 Rivergrove Bend Drive Humble, TX 4
    • 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,432 Sqft ∙ Built 2016
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.82
    •  
PROPERTY LISTING DETAILS
Terri Blewett
1.281.812.8254
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 #: 44910513
Last Updated: 11/13/2020
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