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6103 Caroline Green Court Spring, TX 77373

4 Beds 3 Baths 2,913 sqft Built 2001

INVESTimate

$240,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$248,736  ( +3.64%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2001
  • Price/Sqft : $82.39
  • 10 Days on Market
  • MLS # : 32074292
  • Updated Date : 08/17/2020 at 21:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,913 sqft
  • Baths : 2 full , 1 half
Listing Agent

Wilhelm Investments & Realty

Listing Agent's Description

Check out this absolutely stunning two story home just listed in Cypresswood Green! This spacious home is located just across the street from the Cypresswood Golf Club and has never flooded! It offers a large open floor plan with high ceilings and modern color tones giving it a bright and clean feel. Kitchen features newly painted cabinets, center island, and Frigidaire stainless steel appliances. Master suite features double vanities, separate shower and tub, and walk-in closet. The bedrooms are spacious with large windows allowing for plenty of natural light. The notable upgrades include: new tile and laminate floors, all new lighting and fixtures throughout the entire home, and fresh paint. Call to schedule your private showing today!

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: Cypresswood Green

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k270k

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

Neighborhood: Cypresswood Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9101932

* 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
Anderson Elementary School Primary Regular 604 43 5
Dueitt Middle School Middle Regular 954 59 5
Spring High School High Regular 3,339 173 3

Anderson Elementary School

  • Education Level: Primary
  • # of students: 604
  • # of teachers: 43
5
GreatSchools Rating

Dueitt Middle School

  • Education Level: Middle
  • # of students: 954
  • # of teachers: 59
5
GreatSchools Rating

Spring High School

  • Education Level: High
  • # of students: 3,339
  • # of teachers: 173
3
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$886
Property Tax -$595
Property Insurance -$224
HOA -$48
Property Management Fees -$99
CASH FLOW
$149

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$240,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.64%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$14,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,061

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8853$1,9954$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 6103 Caroline Green Court Spring, TX 5
    • 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,913 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 20811 Dappled Ridge Way Way Humble, TX 1
    • 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,663 Sqft ∙ Built 2006
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.68
    •  
  • 7103 Foxwalk Lane Humble, TX 2
    • 5 beds 3 baths ∙ 2,695 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,695 Sqft ∙ Built 2005
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.70
    •  
  • 6007 Fairway Manor Lane Spring, TX 3
    • 4 beds 2 baths ∙ 2,782 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,782 Sqft ∙ Built 2000
    LEASED 06/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.72
    •  
  • 5815 Evening Shadows Lane Spring, TX 4
    • 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,742 Sqft ∙ Built 1981
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
PROPERTY LISTING DETAILS
William King
1.832.788.3738
Wilhelm Investments & Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32074292
Last Updated: 08/17/2020
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