Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

62 Fire Flicker Place The Woodlands, TX 77381

4 Beds 3 Baths 2,570 sqft Built 1987

$345,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $134.24
  • 3 Days on Market
  • MLS # : 56112958
  • Updated Date : 01/29/2021 at 21:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,570 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Nestled in the heart of Indian Springs & close to walking trails, this 4 bedroom updated home is in a quiet cul-de-sac location. The home has been tastefully upgraded over the past 5 years: Kitchen has granite counter tops and beautiful stainless appliances, recessed lighting, updated primary en-suite, new A/C (2017) New windows, New Hardi-Plank siding (2017)New back door (2017) Hot Water Heater (2020) new fence (2016 & 2017), New Barn Doors (2020). High volume ceilings in the entry & den. Some of the items loved by the current homeowners: Walk in closets in each bedroom, a large spacious kitchen, the quiet location, an oversized garage that can fit their large SUV, low utility bills and the ease of being centrally located in The Woodlands. Excellent Woodlands Schools, and close to community pool. Low Tax rate. Never flooded!

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: Village of Indian Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k418k

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

Neighborhood: Village of Indian Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10722631

* 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
 

$310,500$379,500$345,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,198
Property Tax -$663
Property Insurance -$175
Property Management Fees -$99
CASH FLOW
$144

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.

$345,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.8%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$97,175

INVESTMENT

$97,175

Down Payment
$86,250
Rehab Estimate
$5,750
Closing Costs
$5,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,198

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $86,250
Loan Amount $258,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$14,762

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,499

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,175
1$2,1752$2,2803$2,4004$2,4005$2,700
$2,700
RENT COMPS ANALYSIS
  • 62 Fire Flicker Place The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.89
    •  
  • 150 Rushwing Place Spring, TX 1
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1988
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,175
    • $0.91
    •  
  • 59 S Trace Creek Drive The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 1988
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.96
    •  
  • 2 Eagle Rock Place The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,386 Sqft ∙ Built 1988
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.01
    •  
  • 22 Agate Stream Place The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 1997
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.01
    •  
PROPERTY LISTING DETAILS
Lisa Roth
1.281.740.2480
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56112958
Last Updated: 01/29/2021
BESbswy