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8110 Morningbrook Court Spring, TX 77379

4 Beds 4 Baths 2,762 sqft Built 1989

$305,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $110.43
  • 3 Days on Market
  • MLS # : 8419387
  • Updated Date : 03/20/2021 at 08:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,762 sqft
  • Baths : 3 full , 1 half
Listing Agent

Forever Realty

Listing Agent's Description

Welcome your charming home located in Champion Forest! This beautifully maintained home features tons of upgrades: the kitchen has been completely remodeled with well designed back splash, Quartz countertops, custom repainted cabinets, and powerful range vent, and a coffee bar; recently painting the whole house, wrought iron stair rails lead to the expansive second floor w/3 bedrooms, crown moldings. The spacious primary bedroom is located on the first floor and includes a large size sitting area and dreamy spa-like master bathroom. Enjoy entertaining in the open living area with two story high ceiling and a look through fire place. Right size study room and formal diner room are in the first floor. This beautiful home has recent interior paint, gorgeous wood/like floor in the family and master bedroom. Dream home for your whole family entertaining and home office! Quiet community near restaurants, shopping, parks and conveniently access highway! Room sizes are approximate. Low tax!!

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: Champion Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k407k

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

Neighborhood: Champion Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10722718

* 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
Brill Elementary School Primary Regular 765 50 7
Kleb Intermediate School Middle Regular 1,396 76 6
Klein High School High Regular 3,885 228 6

Brill Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 50
7
GreatSchools Rating

Kleb Intermediate School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 76
6
GreatSchools Rating

Klein High School

  • Education Level: High
  • # of students: 3,885
  • # of teachers: 228
6
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,059
Property Tax -$648
Property Insurance -$214
HOA -$21
Property Management Fees -$99
CASH FLOW
$159

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.

$305,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,059

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,134

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,175

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,1503$2,2004$2,2005$2,400
$2,400
RENT COMPS ANALYSIS
  • 8110 Morningbrook Court Spring, TX 4
    • 4 beds 4 baths ∙ 2,762 Sqft ∙ Built 1989 4 beds 4 baths ∙ 2,762 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 8218 Twining Oaks Lane Spring, TX 1
    • 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,761 Sqft ∙ Built 1973
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.69
    •  
  • 9131 Herts Road Spring, TX 2
    • 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,662 Sqft ∙ Built 1978
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.81
    •  
  • 8311 Mentmore Drive Spring, TX 3
    • 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,670 Sqft ∙ Built 1991
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 16422 Graven Hill Drive Spring, TX 5
    • 4 beds 4 baths ∙ 2,907 Sqft ∙ Built 1991 4 beds 4 baths ∙ 2,907 Sqft ∙ Built 1991
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.83
    •  
PROPERTY LISTING DETAILS
Kevin Man
1.281.665.0823
Forever Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 8419387
Last Updated: 03/20/2021
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