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68 W Timberspire Court The Woodlands, TX 77380

3 Beds 3 Baths 2,081 sqft Built 1982

$254,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $122.49
  • 3 Days on Market
  • MLS # : 19141821
  • Updated Date : 11/14/2020 at 10:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,081 sqft
  • Baths : 2 full , 1 half
Listing Agent

Crow & Associates

Listing Agent's Description

Come see this very affordable, very comfortable jewel of The Woodlands. It won’t be available for long. If you hesitate for a blink, it WILL be GONE! Soaring ceilings and a stately floor to ceiling gas fireplace with hardwood floors and natural light streaming through the many windows in the main living area are the first things you will notice as you enter this well-maintained home. Perfectly situated in Grogans Mill, enjoy all the best The Woodlands has to offer when you live so close to EVERYTHING! Many updates including the roof and HVAC within the past three years and carpeting within the past five years. Upgrades include partial Anderson windows plus a home office/craft area off the kitchen with built-in cabinets with recent tile flooring. The home is high and dry and has 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: Grogan's Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k402k

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

Neighborhood: Grogan's Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722353

* 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
Sam Hailey Elementary School Primary Regular 720 42 6
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Sam Hailey Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 42
6
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$940
Property Tax -$500
Property Insurance -$147
Property Management Fees -$99
CASH FLOW
$53

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.

$254,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.68%

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$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$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,014

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7403$1,8004$1,8505$1,975
$1,975
RENT COMPS ANALYSIS
  • 68 W Timberspire Court The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.84
    •  
  • 25519 Many Oak Drive Spring, TX 1
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 1974 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 1974
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
  • 39 S Drifting Leaf Court Court The Woodlands, TX 3
    • 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,970 Sqft ∙ Built 1982
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 23 S Drifting Leaf Court The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 1982
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 19 S Drifting Leaf Court The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,040 Sqft ∙ Built 1982
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.97
    •  
PROPERTY LISTING DETAILS
Charles Crow
1.281.893.8200
Crow & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 19141821
Last Updated: 11/14/2020
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