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70 Terraglen Drive The Woodlands, TX 77382

3 Beds 2 Baths 2,456 sqft Built 1994

$349,000

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $142.10
  • 3 Days on Market
  • MLS # : 20862208
  • Updated Date : 03/06/2021 at 12:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,456 sqft
  • Baths : 2 full
Listing Agent

Champions Real Estate Group

Listing Agent's Description

Stunning, completely remodeled one story home in Alden Bridge. Soaring ceilings with new, wood floors throughout. Open concept kitchen opens to living area with updated gas log fireplace. Kitchen was redesigned with new shaker cabinets, quartz counters, new fixtures and stainless steel appliances. Formal living and dining have rich hardwood floors and custom trim work. Office/study includes wood floors, french doors. Large master bedroom opens to all glass shower and separate soak tub. Two large secondary bedrooms. Fenced back yard.

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
David Elementary School Primary Regular 626 36 9
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

David Elementary School

  • Education Level: Primary
  • # of students: 626
  • # 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
 

$314,100$383,900$349,000

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 -$1,212
Property Tax -$677
Property Insurance -$169
Property Management Fees -$99
CASH FLOW
$23

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.

$349,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.62%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,521

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
  • $0.89

    LIST RENT PER SQFT
  • $2,315

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,925
1$1,9252$2,1803$2,3004$2,4505$2,675
$2,675
RENT COMPS ANALYSIS
  • 70 Terraglen Drive The Woodlands, TX 2
    • 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,456 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.89
    •  
  • 87 W Trillium Circle The Woodlands, TX 1
    • 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1991 4 beds 2 baths ∙ 2,131 Sqft ∙ Built 1991
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.90
    •  
  • 10 Windfern Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 1994
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.87
    •  
  • 26 Willow Run Place The Woodlands, TX 4
    • 4 beds 2 baths ∙ 2,382 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,382 Sqft ∙ Built 1994
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.03
    •  
  • 38 Terraglen Drive The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1994
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.97
    •  
PROPERTY LISTING DETAILS
Marshal Davis
1.832.409.3195
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 20862208
Last Updated: 03/06/2021
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