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74 N Star Ridge Circle Spring, TX 77382

3 Beds 3 Baths 2,193 sqft Built 2006

$270,000

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $123.12
  • 5 Days on Market
  • MLS # : 787016
  • Updated Date : 12/31/2020 at 18:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,193 sqft
  • Baths : 2 full , 1 half
Listing Agent

Greenwood King Properties

Listing Agent's Description

Traditional two-story home in The Woodlands master-planned community. A formal dining room just off the foyer greets you as you enter. Following, the kitchen with breakfast area and breakfast bar, overlook the spacious living room. Conveniently adjacent, the primary retreat provides an escape with en-suite bathroom equipped with separate tub and shower, and large walk-in closet. Upstairs, the gameroom ensures separate spaces to relax, and sits just off the two secondary bedrooms. Outside, the raised deck is surrounded by mature pine trees, creating the perfect backdrop for outdoor entertaining. Zoned to The Woodlands High School (buyer to verify and confirm eligibility and enrollment) and close to local dining and shopping, new experiences are sure to be had in this picturesque neighborhood.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (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
Deretchin Elementary School Primary Regular 1,121 66 10
Deretchin Elementary School Middle Regular 1,121 66 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Deretchin Elementary School

  • Education Level: Primary
  • # of students: 1,121
  • # of teachers: 66
10
GreatSchools Rating

Deretchin Elementary School

  • Education Level: Middle
  • # of students: 1,121
  • # of teachers: 66
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$243,000$297,000$270,000

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$996
Property Tax -$530
Property Insurance -$154
Property Management Fees -$99
CASH FLOW
$211

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.

$270,000

PROJECTED PRICE

$1,990

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.5%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,500
Loan Amount $202,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$22,106

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,023

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0003$2,0004$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 74 N Star Ridge Circle Spring, TX 1
    • 3 beds 3 baths ∙ 2,193 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,193 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.91
    •  
  • 14 Quillwood Place The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,264 Sqft ∙ Built 2009
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 82 S Star Ridge Circle The Woodlands, TX 3
    • 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,016 Sqft ∙ Built 2006
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
  • 103 Bryce Branch Circle The Woodlands, TX 4
    • 4 beds 2 baths ∙ 2,248 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,248 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.91
    •  
  • 71 W Spindle Tree Circle The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,311 Sqft ∙ Built 2007
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.91
    •  
PROPERTY LISTING DETAILS
Jeremy Fain
1.713.677.4337
Greenwood King Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 787016
Last Updated: 12/31/2020
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