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91 Alden Glen Drive The Woodlands, TX 77382

4 Beds 3 Baths 2,676 sqft Built 1996

$375,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $140.13
  • 3 Days on Market
  • MLS # : 45212526
  • Updated Date : 02/12/2021 at 00:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,676 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

CHARMING 4 bedroom, 2/1 bath Life Forms home with convenient access to major thoroughfares and close to acclaimed Mitchell Intermediate. Soaring two-story ceilings, abundant windows, and recent wide luxury vinyl plank flooring make this home feel modern yet cozy. Kitchen features granite countertops, island, plus built-ins. Relax in the adjoining Family Room with fireplace, or screened back patio. Additional flex space, currently a Study, is great for working at home, a kids playroom, or craft room. Upstairs find the Primary Bedroom with vaulted ceiling, screened-in balcony, and updated en-suite bath with custom cabinetry, double sinks, and freestanding bathtub. Down the hall double doors open to Game Room with three secondary bedrooms and full bath. NO CARPET, all hard surface flooring. Step outside to a private, peaceful oasis of mature landscaping and no rear neighbors. Enjoy dining, shopping, entertainment and all The Woodlands has to offer. Low tax rate. NEVER FLOODED.

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: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $113k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722322

* 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
Bush Elementary School Primary Regular 698 42 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Bush Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
10
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$337,500$412,500$375,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,303
Property Tax -$746
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
$31

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.

$375,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$105,125

INVESTMENT

$105,125

Down Payment
$93,750
Rehab Estimate
$5,750
Closing Costs
$5,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,303

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $93,750
Loan Amount $281,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$8,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,402

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,350
1$2,3502$2,3503$2,3604$2,4005$2,800
$2,800
RENT COMPS ANALYSIS
  • 91 Alden Glen Drive The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,676 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.88
    •  
  • 35 Vista Mill Place The Woodlands, TX 1
    • 3 beds 3 baths ∙ 2,769 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,769 Sqft ∙ Built 1996
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
  • 87 Alden Glen Drive The Woodlands, TX 2
    • 3 beds 3 baths ∙ 2,670 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,670 Sqft ∙ Built 1996
    LEASED 02/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.88
    •  
  • 55 E Greywing Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,743 Sqft ∙ Built 1995
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
  • 39 E Greywing Circle The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,829 Sqft ∙ Built 1995
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.99
    •  
PROPERTY LISTING DETAILS
Amy Raper
1.713.203.8950
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 45212526
Last Updated: 02/12/2021
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