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60 W Twinberry Place The Woodlands, TX 77381

3 Beds 2 Baths 2,456 sqft Built 1992

$349,900

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $142.47
  • 4 Days on Market
  • MLS # : 95041623
  • Updated Date : 03/13/2021 at 18:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,456 sqft
  • Baths : 2 full
Listing Agent

Mustard Seed, Realtors

Listing Agent's Description

Virtual Tour & Video Tour available. Rare 1 story in Heart of Cochrans Crossing on culdesac w/ privacy & safety from flow through traffic. A quiet & tastefully appointed home located in prestigious neighborhood moments from local amenities in The Woodlands w/ Fine Dining @ Market Street, Luxury Shopping & Cynthia Woods Mitchell Pavilion. Home boasts desired updates at an Affordable Price. Enter the spacious family room & begin to see the interior transformation ready for you: Kitchen (Updated Stainless Steel Appliance Package with Amazing 2018 FrenchDoor Fridge Included, Granite Counters, Artistically Painted cabinets, & 2019 Double Convection Oven). Backyard living space w/ Pool for late nights, b-day parties & weekends w/ friends, family, & neighbors. Sought after school system feeding to Powell Elem, McCoullough JH & The Woodlands HS (You can even walk to Powell Elem and TWHS). New AC & Microwave in 21', Heater 17', ELFA in Master. Freshly painted w new fence & electric breaker box.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Powell Elementary School Primary Regular 807 44 9
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Powell Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 44
9
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
 

$314,910$384,890$349,900

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 -$1,215
Property Tax -$678
Property Insurance -$169
Property Management Fees -$99
CASH FLOW
$38

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.

$349,900

PROJECTED PRICE

$2,200

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,193

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
  • $0.9

    LIST RENT PER SQFT
  • $2,253

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2954$2,4505$2,550
$2,550
RENT COMPS ANALYSIS
  • 60 W Twinberry Place The Woodlands, TX 2
    • 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 1992 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 1992
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 34 W Stony End Place The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 1992
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.83
    •  
  • 63 E Amberglow Circle The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 1992
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.88
    •  
  • 30 Petalcup Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,497 Sqft ∙ Built 1991
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.98
    •  
  • 6 Bayginger Place The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,594 Sqft ∙ Built 1991
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jay Mac Sanders
1.832.797.9229
Mustard Seed, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95041623
Last Updated: 03/13/2021
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