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8 Woodelves Place The Woodlands, TX 77381

5 Beds 3 Baths 2,552 sqft Built 1986

$250,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $97.96
  • 1 Days on Market
  • MLS # : 95131739
  • Updated Date : 07/13/2021 at 13:36
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,552 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Experience

Listing Agent's Description

Property being sold as is. If measurements are important, buyer is to validate all measurements.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $113k547k

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

Neighborhood: Cochran's Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600280030003200Rent in $10723320

* 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
 

$225,000$275,000$250,000

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 -$868
Property Tax -$529
Property Insurance -$174
Property Management Fees -$99
CASH FLOW
$499

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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$0.0$5.0k$10k$15k$20k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$41,331

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
  • $2,380

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$2,170
1$2,1702$2,2003$2,2504$2,4005$2,700
$2,700
RENT COMPS ANALYSIS
  • 8 Woodelves Place The Woodlands, TX 1
    • 5 beds 3 baths ∙ 2,552 Sqft ∙ Built 1986 5 beds 3 baths ∙ 2,552 Sqft ∙ Built 1986
    • 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
    •  
  • 9 Kearny Brook Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,608 Sqft ∙ Built 1988
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.86
    •  
  • 235 E Rainbow Ridge Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,470 Sqft ∙ Built 1985
    LEASED 05/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.97
    •  
  • 19 Kearny Brook Place The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,656 Sqft ∙ Built 1987
    LEASED 05/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.02
    •  
PROPERTY LISTING DETAILS
Lacey Sparks
1.936.235.1750
Realty One Group, Experience
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95131739
Last Updated: 07/13/2021
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