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6 Barnstable Place The Woodlands, TX 77381

3 Beds 3 Baths 1,540 sqft Built 1984

INVESTimate

$220,000

List Price

$1,670

$1,503 - $1,837

Rent Est.

$227,128  ( +3.24%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $142.86
  • 4 Days on Market
  • MLS # : 16733599
  • Updated Date : 08/24/2020 at 14:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,540 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

Updated charming home in the heart of The Woodlands. Nicely located on a cul-de-sac street with beautiful mature trees and just steps away from the Greenbelt. Hardwood floors throughout the home including staircase, neutral tile color in kitchen and bathrooms. Large backyard with two patios, one off the living room and the other one off the breakfast room with convenient sliding doors to enjoy your backyard views. This beautiful home is a must see!Virtual Tour Available

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: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723320

* 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
Collins Intermediate School Primary Regular 674 36 10
Collins Intermediate School Middle Regular 674 36 10
The Woodlands College Park High School High Regular 2,794 161 9

Collins Intermediate School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

Collins Intermediate School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,503$1,837$1,670

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$812
Property Tax -$438
Property Insurance -$116
Property Management Fees -$99
CASH FLOW
$206

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$220,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.24%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$17,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5753$1,6704$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 6 Barnstable Place The Woodlands, TX 3
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.08
    •  
  • 7 Fiddlers Cove Place The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984
    property image
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 82 S Cobble Hill Place The Woodlands, TX 2
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 1984
    property image
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.05
    •  
  • 50 S Cobble Hill Circle The Woodlands, TX 4
    • 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 1985
    property image
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
  • 10 Fiddlers Cove Place The Woodlands, TX 5
    • 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,540 Sqft ∙ Built 1984
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.14
    •  
PROPERTY LISTING DETAILS
Maria Zevallos
1.832.358.5055
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 16733599
Last Updated: 08/24/2020
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