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PROPERTY INFO
FACTS
- Single Family
- Built In 1992
- Price/Sqft : $101.75
- 19 Days on Market
- MLS # : 18209613
- Updated Date : 01/01/2021 at 18:46
CONSTRUCTION
- Beds : 4
- Floor Size : 2,456 sqft
- Baths : 2 full , 1 half
Listing Agent
Realty Associates
Listing Agent's Description
This Wonderful 2 Story has the Master Down, Comes with a chimney, the updates made are: Exterior Siding was replaced for Cement boards, Interior fresh paint, New carpet, New Ceiling Fans in bedrooms, New Light Fixtures in baths and kitchen, Heater, A/C Condenser and Water Heater are only 1.5 yrs Old, den is wired for surround sound, marble entry, tile & wood downstairs, large patio out back.
SEE MORE
- 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: Colony Creek Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Colony Creek Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,720 |
| EXPENSES | Loan Payment | -$868 |
| Property Tax | -$524 | |
| Property Insurance | -$193 | |
| HOA | -$27 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$8
|
||
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.
$249,900
PROJECTED PRICE
$1,720
PROJECTED RENT
0.69%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 6.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$71,974
LOAN DETAILS
$868
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $62,475 |
| Loan Amount | $187,425 |
2.25
YEARS SAVED
$3,887
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,720
LIST RENT -
$0.7
LIST RENT PER SQFT
-
$1,725
COMP ESTIMATED VALUE -
$0.7
COMP AVG. RENT PER SQFT
Comps Range
-
8807 Driftstone Drive Spring, TX 3
- 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 1992
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- Rent Per SQFT
- $1,720
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17019 Lazy Hill Lane Spring, TX 1
- 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1974 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 1974
LEASED 02/28/20- Rent
- Rent Per SQFT
- $1,649
- $0.66
-
17326 Valley Palms Drive Spring, TX 2
- 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,456 Sqft ∙ Built 1991
LEASED 06/24/20- Rent
- Rent Per SQFT
- $1,700
- $0.69
-
9023 Southleigh Drive Spring, TX 4
- 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,356 Sqft ∙ Built 1989
LEASED 03/31/20- Rent
- Rent Per SQFT
- $1,775
- $0.75
-
17207 Lazy Hill Lane Spring, TX 5
- 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 1977 5 beds 3 baths ∙ 2,519 Sqft ∙ Built 1977
LEASED 12/11/20- Rent
- Rent Per SQFT
- $1,796
- $0.71
PROPERTY LISTING DETAILS
1.832.877.8925
Realty Associates
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 18209613
Last Updated: 01/01/2021
