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7 W Southfork Pines Circle The Woodlands, TX 77381

4 Beds 3 Baths 2,562 sqft Built 1984

$325,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $126.85
  • 6 Days on Market
  • MLS # : 62197576
  • Updated Date : 01/30/2021 at 18:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,562 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Charming up-front Woodlands home with updated hardwood floors, kitchen remodeled in 2014 with new custom cabinets, granite counters, updated fixtures, build in wine cellar! NO CARPET!! Electric iron gate installed at driveway for kids to ride bikes safely + new A/C in 2014. Location doesn’t get better than this; walking distance to Panther Creek Shopping Center and Exemplary Sally Ride Elementary, 1.5 miles to Market Street, Waterway, walk to outdoor concerts at Northshore Park, Hugh’s Landing and CW Pavilion. Just minutes to I-45, Grand Parkway and Hardy Toll Rd drastically reducing commute time North or South of Houston.

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: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k368k

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

Neighborhood: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722236

* 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
Sally Ride Elementary School Primary Regular 568 36 9
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Sally Ride Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 36
9
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
 

$292,500$357,500$325,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,129
Property Tax -$600
Property Insurance -$175
Property Management Fees -$99
CASH FLOW
$167

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.

$325,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.67%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,875

INVESTMENT

$91,875

Down Payment
$81,250
Rehab Estimate
$5,750
Closing Costs
$4,875

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,129

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $81,250
Loan Amount $243,750
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$16,352

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,376

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,2003$2,3004$2,4505$2,550
$2,550
RENT COMPS ANALYSIS
  • 7 W Southfork Pines Circle The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.85
    •  
  • 17 Ridgeline Court The Woodlands, TX 2
    • 5 beds 3 baths ∙ 2,508 Sqft ∙ Built 1983 5 beds 3 baths ∙ 2,508 Sqft ∙ Built 1983
    LEASED 11/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.88
    •  
  • 19 Kearny Brook Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 7 Brookline Court The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,524 Sqft ∙ Built 1989
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.97
    •  
  • 52 W Southfork Pines Circle The Woodlands, TX 5
    • 4 beds 4 baths ∙ 2,569 Sqft ∙ Built 1990 4 beds 4 baths ∙ 2,569 Sqft ∙ Built 1990
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.99
    •  
PROPERTY LISTING DETAILS
Mary Rosen
1.832.928.4601
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62197576
Last Updated: 01/30/2021
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