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7502 Dane Hill Drive Spring, TX 77389

4 Beds 3 Baths 2,373 sqft Built 2000

$260,000

List Price

$1,940

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $109.57
  • 12 Days on Market
  • MLS # : 95956052
  • Updated Date : 02/09/2021 at 19:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,373 sqft
  • Baths : 2 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

Looking for a 4 bedroom home? This is it! This home is located in a fabulous neighborhood nestled between Augusta Pines and The Woodlands Creekside Village Center. There is a private area pool just steps from the front door. The Augusta Pines golf course is just a block away. Master is down. 2.5 bathrooms with formal dining room. Large family room with gas fireplace and a wall of windows. Spacious kitchen with eating area. Oversized master bedroom with tray ceiling. Master bath has separate tub and shower - dual vanities. Large master closet. Nice size closets in bedrooms. Storage space under stairway. No carpet in the house. Two car garage with sealed floors. Screened-in porch with a 100 jet spa. Large backyard for kids and pets to play. Storage shed. Sprinkler system. New landscaping. HVAC unit was replaced in 2015. Roof was replaced in 2009. Close to Burroughs Park, which is an Awesome place to jog, walk, fish, ride bikes and let the kids run and play.

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: Coventry

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Coventry

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Metzler Elementary School Primary Regular 873 53 8
Hofius Intermediate Middle Regular NA
Klein Oak High School High Regular 3,883 230 7

Metzler Elementary School

  • Education Level: Primary
  • # of students: 873
  • # of teachers: 53
8
GreatSchools Rating

Hofius Intermediate

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Klein Oak High School

  • Education Level: High
  • # of students: 3,883
  • # of teachers: 230
7
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$903
Property Tax -$589
Property Insurance -$188
HOA -$21
Property Management Fees -$99
CASH FLOW
$140

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.

$260,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.4%
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

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$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 55% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,819

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $2,059

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9403$1,9504$2,0005$2,225
$2,225
RENT COMPS ANALYSIS
  • 7502 Dane Hill Drive Spring, TX 2
    • 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,373 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.82
    •  
  • 7702 Dane Hill Drive Spring, TX 1
    • 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,176 Sqft ∙ Built 2005
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 25807 Elmley Place Spring, TX 3
    • 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,175 Sqft ∙ Built 2001
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 7526 Nicholforest Lane Spring, TX 4
    • 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,509 Sqft ∙ Built 2002
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 227 New Harmony Trail The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,428 Sqft ∙ Built 2012
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,225
    • $0.92
    •  
PROPERTY LISTING DETAILS
Nancy Robbins
1.832.326.6515
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95956052
Last Updated: 02/09/2021
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