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6 Galleta Court The Woodlands, TX 77389

4 Beds 8 Baths 2,904 sqft Built 2010

$419,000

List Price

$3,160

$2.9K - $3.4K

Rent Est.

PROPERTY INFO

December 03, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $144.28
  • 4 Days on Market
  • MLS # : 55717315
  • Updated Date : 12/03/2020 at 11:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,904 sqft
  • Baths : 4 full , 4 half
Listing Agent

Lv Properties

Listing Agent's Description

**1.5 STORY**EXTRA LARGE LOT**CUL-DE-SAC**WALK TO TUPELO PARK**4 BEDROOMS**4 BATHROOMS**2 CAR EXTENDED GARAGE*CREEKSIDE FOREST ELEMENTARY**. Amazing Chesmar home located in sought-after community of Creekside Park in The Woodlands. Extra large lot that is pool-ready and with a very private backyard. Walk or bike to very popular Tupelo Park. Home features nice entry porch and foyer. Split floor plan features formal dining room and open kitchen to the family room. Kitchen boosts a large island with granite countertops and integrates to breakfast area and the family room which features a gas-log fireplace. 4 bedrooms & 3 full bathrooms are located in the first floor. Media/game room or additional bedroom located in the second floor in addition to another full bathroom. Located close to Creekside Park shopping center and restaurants, shopping and entertainment.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10723103

* 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
Creekside Forest Elementary School Primary Regular 766 43 10
Creekside Forest Elementary School Middle Regular 766 43 10
Tomball High School High Regular 1,624 93 8

Creekside Forest Elementary School

  • Education Level: Primary
  • # of students: 766
  • # of teachers: 43
10
GreatSchools Rating

Creekside Forest Elementary School

  • Education Level: Middle
  • # of students: 766
  • # of teachers: 43
10
GreatSchools Rating

Tomball High School

  • Education Level: High
  • # of students: 1,624
  • # of teachers: 93
8
GreatSchools Rating
 

$377,100$460,900$419,000

PURCHASE PRICE

$2,844$3,476$3,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $3,160
EXPENSES Loan Payment -$1,546
Property Tax -$982
Property Insurance -$223
Property Management Fees -$99
CASH FLOW
$310

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.

$419,000

PROJECTED PRICE

$3,160

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.0%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$116,785

INVESTMENT

$116,785

Down Payment
$104,750
Rehab Estimate
$5,750
Closing Costs
$6,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,546

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,750
Loan Amount $314,250
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$30,274

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $3,160

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $3,862

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$3,160
1$3,1602$3,2503$3,8004$4,000
$4,000
RENT COMPS ANALYSIS
  • 6 Galleta Court The Woodlands, TX 1
    • 4 beds 8 baths ∙ 2,904 Sqft ∙ Built 2010 4 beds 8 baths ∙ 2,904 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $3,160
    • $1.09
    •  
  • 54 Witherbee Place Tomball, TX 2
    • 3 beds 5 baths ∙ 2,961 Sqft ∙ Built 2013 3 beds 5 baths ∙ 2,961 Sqft ∙ Built 2013
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.10
    •  
  • 63 S Victoriana Circle The Woodlands, TX 3
    • 5 beds 5 baths ∙ 2,747 Sqft ∙ Built 2010 5 beds 5 baths ∙ 2,747 Sqft ∙ Built 2010
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,800
    • $1.38
    •  
  • 55 S Greenprint The Woodlands, TX 4
    • 4 beds 5 baths ∙ 2,650 Sqft ∙ Built 2012 4 beds 5 baths ∙ 2,650 Sqft ∙ Built 2012
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,000
    • $1.51
    •  
PROPERTY LISTING DETAILS
Luis Esparza
1.713.632.2957
Lv Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55717315
Last Updated: 12/03/2020
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