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6503 Pinewood Heights Drive Spring, TX 77389

4 Beds 4 Baths 2,674 sqft Built 2012

$300,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $112.19
  • 5 Days on Market
  • MLS # : 91228285
  • Updated Date : 02/06/2021 at 12:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,674 sqft
  • Baths : 2 full , 2 half
Listing Agent

Cb&a, Realtors

Listing Agent's Description

This gorgeous Lennar "Cedar Point" floor plan sits in the prestigious Auburn Lakes subdivision. It boasts fresh interior paint and new carpet. This floor plan contains an open concept kitchen and living areas. All four bedrooms are downstairs with a large game room and bathroom upstairs. The walk-out attic space off the game room has installed wood flooring for easy storage. The backyard playset and security system stays with this home. Auburn Lakes is known for its walking trails, playground, community pool, gym, and gorgeous lakes. Easy access to The Woodlands and hwy 99. Come check it out!

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: Auburn Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550kPrice in $113k556k

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

Neighborhood: Auburn Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723296

* 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
French Elementary School Primary Regular NA
Hofius Intermediate Middle Unknown NA
Klein Oak High School High Regular 3,883 230 7

French Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Hofius Intermediate

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Klein Oak High School

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

$270,000$330,000$300,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,042
Property Tax -$833
Property Insurance -$208
HOA -$55
Property Management Fees -$99
CASH FLOW
$83

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.

$300,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.3%
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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,250

INVESTMENT

$85,250

Down Payment
$75,000
Rehab Estimate
$5,750
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,042

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $75,000
Loan Amount $225,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,855

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,353

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,150
1$2,1502$2,2503$2,3204$2,4505$2,650
$2,650
RENT COMPS ANALYSIS
  • 6503 Pinewood Heights Drive Spring, TX 3
    • 4 beds 4 baths ∙ 2,674 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,674 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.87
    •  
  • 6323 Pinyon Trail Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 2010
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.80
    •  
  • 6306 Pinyon Trail Drive Spring, TX 2
    • 5 beds 3 baths ∙ 2,627 Sqft ∙ Built 2013 5 beds 3 baths ∙ 2,627 Sqft ∙ Built 2013
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 83 Buck Trail Place Spring, TX 4
    • 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,735 Sqft ∙ Built 2009
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.90
    •  
  • 123 S Rocky Point Circle The Woodlands, TX 5
    • 4 beds 4 baths ∙ 2,754 Sqft ∙ Built 2007 4 beds 4 baths ∙ 2,754 Sqft ∙ Built 2007
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.96
    •  
PROPERTY LISTING DETAILS
Sarah Gongora
1.281.734.5888
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91228285
Last Updated: 02/06/2021
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