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8906 Bent Spur Lane Houston, TX 77064

4 Beds 3 Baths 2,597 sqft Built 1990

$249,500

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $96.07
  • 2 Days on Market
  • MLS # : 28309015
  • Updated Date : 11/02/2020 at 11:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,597 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gordon Ford Properties

Listing Agent's Description

This immaculate one owner home is ready for quick move in. Updated with 5" wood plank flooring, recent paint, granite counters and a fantastic covered patio. Seller has added a wooden porch swing: perfect for enjoying the shaded afternoons in the spacious backyard. This gem has a low maintenance exterior with vinyl siding addition, full rain gutters and automatic sprinkler system. Enormous utility room makes laundry a breeze. Upstairs are 4 bedrooms all with fantastic walk in closets. The master is enormous with updated bath including frameless shower and updated tile surround. Beautiful mature trees line this quiet street nestled in the back of the subdivision. Exceptional neighbors, low traffic neighborhood, Cy Fair schools and easy access to SH Tollway and Hwy 290 make this an excellent find. Make your appointment today!

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: Winchester Country Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k315k

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

Neighborhood: Winchester Country Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Bang Elementary School Primary Regular 959 59 5
Cook Middle School Middle Regular 1,581 93 7
Jersey Village High School High Regular 3,461 204 6

Bang Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 59
5
GreatSchools Rating

Cook Middle School

  • Education Level: Middle
  • # of students: 1,581
  • # of teachers: 93
7
GreatSchools Rating

Jersey Village High School

  • Education Level: High
  • # of students: 3,461
  • # of teachers: 204
6
GreatSchools Rating
 

$224,550$274,450$249,500

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$921
Property Tax -$558
Property Insurance -$203
HOA -$42
Property Management Fees -$99
CASH FLOW
$178

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.

$249,500

PROJECTED PRICE

$2,000

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$921

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$15,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,078

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,0003$2,1004$2,1955$2,250
$2,250
RENT COMPS ANALYSIS
  • 8906 Bent Spur Lane Houston, TX 2
    • 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,597 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 10218 Minturn Lane Houston, TX 1
    • 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,576 Sqft ∙ Built 1991
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.70
    •  
  • 9206 Bent Spur Lane Houston, TX 3
    • 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,682 Sqft ∙ Built 1992
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 76 Cherry Hills Drive Jersey Village, TX 4
    • 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2006
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $0.89
    •  
  • 40 Pebble Beach Court Jersey Village, TX 5
    • 3 beds 3 baths ∙ 2,722 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,722 Sqft ∙ Built 2002
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.83
    •  
PROPERTY LISTING DETAILS
Sara Gordon
1.832.282.3112
Gordon Ford Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 28309015
Last Updated: 11/02/2020
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