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6 Fairmeade Bend Drive The Woodlands, TX 77381

4 Beds 3 Baths 2,227 sqft Built 1982

INVESTimate

$299,500

List Price

$1,960

$1,764 - $2,156

Rent Est.

$312,319  ( +4.28%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $134.49
  • 3 Days on Market
  • MLS # : 68931646
  • Updated Date : 08/24/2020 at 12:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,227 sqft
  • Baths : 2 full , 1 half
Listing Agent

Michael Zabrycki

Listing Agent's Description

Beautiful and updated two story in the Woodlands Panther Creek area. Stunning landscape with inviting pool makes this a warm home welcome. Available for immediate occupancy. Vaulted ceilings. Tasteful updates throughout. Sally K Ride elementary and College Park High School. Washer,dryer and refrigerator included

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: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k402k

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

Neighborhood: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722353

* 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
Glen Loch Elementary School Primary Regular 640 37 6
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Glen Loch Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 37
6
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$269,550$329,450$299,500

PURCHASE PRICE

$1,764$2,156$1,960

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 $1,960
EXPENSES Loan Payment -$1,105
Property Tax -$566
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
$35

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.

$299,500

PROJECTED PRICE

$1,960

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.28%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,118

INVESTMENT

$85,118

Down Payment
$74,875
Rehab Estimate
$5,750
Closing Costs
$4,493

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,875
Loan Amount $224,625
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,303

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,010

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,9503$1,9604$1,9805$2,200
$2,200
RENT COMPS ANALYSIS
  • 6 Fairmeade Bend Drive The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.88
    •  
  • 41 Cypress Pine Drive The Woodlands, TX 1
    • 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 1981 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 1981
    property image
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.85
    •  
  • 86 Yewleaf Drive The Woodlands, TX 2
    • 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,039 Sqft ∙ Built 1982
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
  • 34 W Trace Creek Drive The Woodlands, TX 4
    • 3 beds 4 baths ∙ 2,290 Sqft ∙ Built 1987 3 beds 4 baths ∙ 2,290 Sqft ∙ Built 1987
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,980
    • $0.86
    •  
  • 14 Summer Morning Court The Woodlands, TX 5
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1990
    property image
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.94
    •  
PROPERTY LISTING DETAILS
Michael Zabrycki
1.832.628.2206
Michael Zabrycki
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 68931646
Last Updated: 08/24/2020
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