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9103 Prairie Trails Drive Spring, TX 77379

3 Beds 3 Baths 2,019 sqft Built 2005

$209,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $103.96
  • 2 Days on Market
  • MLS # : 30189483
  • Updated Date : 01/16/2021 at 21:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,019 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lois Malone Realty

Listing Agent's Description

Come see this beautifully updated house, best value in the neighborhood!! 3 bedrooms and two and a half baths. New granite countertops and new stainless steel appliances in kitchen, new faucets and fixtures, fresh paint inside and out, brand new frieze carpet.

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

Zip Code: 77379

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k310k

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

Zip Code: 77379

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722111

* 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
Krahn Elementary School Primary Regular 741 48 8
Kleb Intermediate School Middle Regular 1,396 76 6
Klein Cain High School High Regular NA

Krahn Elementary School

  • Education Level: Primary
  • # of students: 741
  • # of teachers: 48
8
GreatSchools Rating

Kleb Intermediate School

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

Klein Cain High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$729
Property Tax -$441
Property Insurance -$164
HOA -$23
Property Management Fees -$99
CASH FLOW
$84

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.

$209,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,121

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,706

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,5503$1,5504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 9103 Prairie Trails Drive Spring, TX 1
    • 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.76
    •  
  • 9122 Grandview Park Drive Spring, TX 2
    • 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,942 Sqft ∙ Built 2004
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 9218 Laneside Drive Spring, TX 3
    • 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,875 Sqft ∙ Built 1993
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 16824 Colony Creek Drive Spring, TX 4
    • 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,009 Sqft ∙ Built 2005
    LEASED 07/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 9106 Prairie Trails Drive Klein, TX 5
    • 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,879 Sqft ∙ Built 2005
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.90
    •  
PROPERTY LISTING DETAILS
Nicholas Caine
1.832.851.5431
Lois Malone Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 30189483
Last Updated: 01/16/2021
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