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5927 Wrest Point Court Spring, TX 77388

4 Beds 4 Baths 2,641 sqft Built 2012

$259,900

List Price

$1,910

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $98.41
  • 3 Days on Market
  • MLS # : 31788374
  • Updated Date : 01/09/2021 at 18:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,641 sqft
  • Baths : 2 full , 2 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

This awesome Chesmar built two story, 4 bedroom, 2.5 bath, home features a french door enclosed study, a large gameroom, and soaring living room ceilings. The open concept layout is perfect for hosting friends and family. Gather around the kitchen island that featured granite countertops, stainless steel appliances, and tile backsplash. Put the little ones to bed, and the wrought iron spindles upstairs helps make sure they don't sneak out. Backyard is perfect spot to cookout, and watch the human or fur-babies run around on the extended stamped concrete pad. No back neighbors is a huge bonus as well as being on a Culdesac street. Home is super clean and move in ready!

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: Northcrest Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Northcrest Village

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
Mueller Elementary School Primary Regular 921 57 7
Hildebrandt Intermediate School Middle Regular 1,136 69 7
Klein Oak High School High Regular 3,883 230 7

Mueller Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
7
GreatSchools Rating

Hildebrandt Intermediate School

  • Education Level: Middle
  • # of students: 1,136
  • # of teachers: 69
7
GreatSchools Rating

Klein Oak High School

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

$233,910$285,890$259,900

PURCHASE PRICE

$1,719$2,101$1,910

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,910
EXPENSES Loan Payment -$903
Property Tax -$612
Property Insurance -$206
HOA -$42
Property Management Fees -$99
CASH FLOW
$49

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.

$259,900

PROJECTED PRICE

$1,910

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,624

INVESTMENT

$74,624

Down Payment
$64,975
Rehab Estimate
$5,750
Closing Costs
$3,899

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% 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 $64,975
Loan Amount $194,925
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,910

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,928

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,9103$2,0004$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 5927 Wrest Point Court Spring, TX 2
    • 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,641 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,910
    • $0.72
    •  
  • 21706 Texian Court Spring, TX 1
    • 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 2006
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 6123 Northcrest Village Way Spring, TX 3
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2012
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
  • 6014 Wilcox Point Court Spring, TX 4
    • 5 beds 4 baths ∙ 2,760 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,760 Sqft ∙ Built 2005
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
  • 21607 Rudy Glen Court Spring, TX 5
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 2011
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
PROPERTY LISTING DETAILS
Douglas Tigtig
1.832.233.2088
Re/max Fine Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31788374
Last Updated: 01/09/2021
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