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6115 Wilcox Point Drive Spring, TX 77388

4 Beds 3 Baths 2,674 sqft Built 2006

$249,000

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $93.12
  • 4 Days on Market
  • MLS # : 4508296
  • Updated Date : 02/05/2021 at 13:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,674 sqft
  • Baths : 2 full , 1 half
Listing Agent

Team Churgin Realty Group

Listing Agent's Description

Beautiful open concept home with granite counter tops in the kitchen. New flooring, fresh paint, custom under cabinet lighting with multi-color functionality. Master bedroom downstairs with 3 bedroom plus game room upstairs. Just minutes away from 99 Grand Parkway and just west of I-45 Freeway. Conveniently surrounded by many shopping centers and restaurants. In the much desirable school district Klein ISD. New roof going in within 2 weeks! Truly a must see!

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: Northcrest Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Northcrest Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Mueller Elementary School Primary Regular 921 57 7
Hildebrandt Intermediate School Middle Regular 1,136 69 7
Klein Oak High School High Regular 3,883 230 7

Mueller Elementary School

  • Education Level: Primary
  • # of students: 921
  • # of teachers: 57
7
GreatSchools Rating

Hildebrandt Intermediate School

  • Education Level: Middle
  • # of students: 1,136
  • # of teachers: 69
7
GreatSchools Rating

Klein Oak High School

  • Education Level: High
  • # of students: 3,883
  • # of teachers: 230
7
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$865
Property Tax -$586
Property Insurance -$208
Property Management Fees -$99
CASH FLOW
$112

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.

$249,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$8,503

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,878

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,870
1$1,8702$1,9003$1,9504$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 6115 Wilcox Point Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,674 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $0.70
    •  
  • 6615 Serrano Hill Lane Spring, TX 2
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.68
    •  
  • 6603 Lindale Manor Court Spring, TX 3
    • 4 beds 3 baths ∙ 2,861 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,861 Sqft ∙ Built 2007
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.68
    •  
  • 6123 Northcrest Village Way Spring, TX 4
    • 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,748 Sqft ∙ Built 2012
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.73
    •  
  • 6014 Wilcox Point Court Spring, TX 5
    • 5 beds 4 baths ∙ 2,760 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,760 Sqft ∙ Built 2005
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.72
    •  
PROPERTY LISTING DETAILS
Theresa Churgin
1.832.720.4611
Team Churgin Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 4508296
Last Updated: 02/05/2021
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