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7 Cheshire Glen Court The Woodlands, TX 77382

3 Beds 2 Baths 2,013 sqft Built 2000

$318,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $157.97
  • 3 Days on Market
  • MLS # : 85113867
  • Updated Date : 03/06/2021 at 06:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,013 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

GORGEOUS, UPDATED, Lennar Patio Home in Adult community, ASHLEY GREEN. Walking distance to restaurants, stores, and minutes to Woodlands premier shops and entertainment, medical district and more! Great curb appeal, with lush landscaping. Roof, approx. 4 years old, fresh paint, new carpet, Hardwoods throughout main living area, QUARTZ countertops in kitchen, with upgraded stainless appliances that opens to family room, overlooking patio, yard and greenspace. Secluded Owners retreat and large walk-in closet. Spacious bedrooms offer versatile living area (study, Or excercise-room. plus updated fixtures in bathrooms. Neatly manicured, 55 & older neighborhood with HOA provides front lawn service, including sprinkler system, house and front door painting, gutter cleaning, fence repair and replacement and alarm monitoring. LOW TAX RATE

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: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722322

* 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
Bush Elementary School Primary Regular 698 42 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Bush Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
10
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
 

$286,200$349,800$318,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,105
Property Tax -$632
Property Insurance -$143
HOA -$126
Property Management Fees -$99
CASH FLOW
$75

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.

$318,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,020

INVESTMENT

$90,020

Down Payment
$79,500
Rehab Estimate
$5,750
Closing Costs
$4,770

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,105

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,500
Loan Amount $238,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$8,170

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,013

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,1504$2,1505$2,180
$2,180
RENT COMPS ANALYSIS
  • 7 Cheshire Glen Court The Woodlands, TX 5
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $1.08
    •  
  • 27 Auburn Path Drive The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 1998
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.03
    •  
  • 23 Lamps Glow Place Spring, TX 2
    • 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,988 Sqft ∙ Built 1995
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.98
    •  
  • 18 Bonnaire Drive The Woodlands, TX 3
    • 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,208 Sqft ∙ Built 1997
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.97
    •  
  • 140 S Winterport Circle Spring, TX 4
    • 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,104 Sqft ∙ Built 1994
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $1.02
    •  
PROPERTY LISTING DETAILS
Teresa Kennedy
1.281.799.3927
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 85113867
Last Updated: 03/06/2021
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