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7 N Regan Mead Circle Spring, TX 77382

3 Beds 2 Baths 1,818 sqft Built 2004

INVESTimate

$259,999

List Price

$1,850

$1,665 - $2,035

Rent Est.

$266,395  ( +2.46%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $143.01
  • 2 Days on Market
  • MLS # : 47008226
  • Updated Date : 08/25/2020 at 08:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,818 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Platinum

Listing Agent's Description

Experience the comfortable and convenient lifestyle of The Woodlands with this gorgeous home in the quiet community of Sterling Ridge Village. This 3-bedroom, 2-bathroom property features laminate and tile flooring, a gas fireplace in the living room, dining room, and study. Equipped with granite countertops, a tile backsplash, gas range, and breakfast bar, this incredible kitchen will be a delight to any chef. Find some peace and quiet in the private primary suite, complete with a walk-in closet, dual vanities, a jetted tub, and separate shower. The covered patio is perfect for outdoor entertaining and leisure. Within walking distance of top-rated schools, the YMCA and library. Delve into premier shopping, dining, and entertainment at The Woodlands Mall.

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: Sterling Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Sterling Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10723113

* 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
Tough Elementary School Primary Regular 1,011 61 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Tough Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 61
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
 

$233,999$285,999$259,999

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$959
Property Tax -$510
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$150

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.

$259,999

PROJECTED PRICE

$1,850

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.46%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $194,999
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$16,890

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,868

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,9004$1,9955$2,000
$2,000
RENT COMPS ANALYSIS
  • 7 N Regan Mead Circle Spring, TX 2
    • 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,818 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.02
    •  
  • 38 Ebony Oaks Place The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2005
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.98
    •  
  • 34 N Spinning Wheel Circle The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,880 Sqft ∙ Built 2006
    LEASED 09/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.01
    •  
  • 114 N Queenscliff Circle The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,923 Sqft ∙ Built 2002
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.04
    •  
  • 10 Delphinium Place The Woodlands, TX 5
    • 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,860 Sqft ∙ Built 2004
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.08
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47008226
Last Updated: 08/25/2020
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