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6922 Hamilton Falls Lane Spring, TX 77379

4 Beds 3 Baths 2,332 sqft Built 2009

$244,900

List Price

$1,970

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $105.02
  • 3 Days on Market
  • MLS # : 45930645
  • Updated Date : 02/05/2021 at 19:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,332 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Awesome Opportunity for a 4 Bedroom Home in Twin Falls! Brick & Stone Elevation w/Wood Pillars Gives GREAT curb appeal! This well kept home features a formal dining room, HUGE living room w/fireplace, Breakfast area, kitchen w/island & stainless appliances, undermount sink & granite counters! Half bath down. Upstairs is primary bedroom & bath & 3 generously sized secondary bedrms. Utility room up! Covered patio + BIG backyard with no back neighbors. Great place to call home!! See it 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: Twin Falls

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k308k

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

Neighborhood: Twin Falls

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
Kuehnle Elementary School Primary Regular 766 50 7
Krimmel Intermediate School Middle Regular 1,229 72 7
Klein High School High Regular 3,885 228 6

Kuehnle Elementary School

  • Education Level: Primary
  • # of students: 766
  • # of teachers: 50
7
GreatSchools Rating

Krimmel Intermediate School

  • Education Level: Middle
  • # of students: 1,229
  • # of teachers: 72
7
GreatSchools Rating

Klein High School

  • Education Level: High
  • # of students: 3,885
  • # of teachers: 228
6
GreatSchools Rating
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,970
EXPENSES Loan Payment -$851
Property Tax -$553
Property Insurance -$185
HOA -$63
Property Management Fees -$99
CASH FLOW
$220

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.

$244,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

5.75

YEARS SAVED

$15,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,169

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$1,9703$2,1004$2,2005$2,250
$2,250
RENT COMPS ANALYSIS
  • 6922 Hamilton Falls Lane Spring, TX 2
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.84
    •  
  • 7023 Villa Mountain Lane Spring, TX 1
    • 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,056 Sqft ∙ Built 2015
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
  • 7014 Pepper Crest Lane Spring, TX 3
    • 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,196 Sqft ∙ Built 2015
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.96
    •  
  • 18631 Crystal Cascade Lane Spring, TX 4
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2013
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 7015 Pepper Crest Lane Spring, TX 5
    • 4 beds 4 baths ∙ 2,427 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,427 Sqft ∙ Built 2015
    LEASED 07/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jennifer Chatham
1.713.447.1333
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 45930645
Last Updated: 02/05/2021
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