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9202 Kirkstone Drive Spring, TX 77379

3 Beds 3 Baths 2,783 sqft Built 2000

$310,000

List Price

$2,370

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $111.39
  • 33 Days on Market
  • MLS # : 82389008
  • Updated Date : 11/12/2020 at 17:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,783 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Pride of ownership reflected in this property. This open concept home is perfect for entertaining. Home features great sight lines with a home office, spit floor plan, game room, three bedrooms and 2 1/2 baths all on one level. Every bedroom is split from the other bedroom to allow for privacy. Home is located on a corner lot. Hand scrapped woods run throughout the home except in the wet areas which feature tile. Large deck with lots of room . Master has a large walk in closet and master bath has double sinks and separate shower and tub. The attic has a large deck spaced with shelves for storage. Home is close to the golf course and neighborhood parks and pools. Great curb appeal. Close to shopping and entertainment.

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: Gleannloch Farms

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k404k

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

Neighborhood: Gleannloch Farms

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10722562

* 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
Hassler Elementary School Primary Regular 650 44 9
Doerre Intermediate School Middle Regular 1,151 75 8
Klein Cain High School High Regular NA

Hassler Elementary School

  • Education Level: Primary
  • # of students: 650
  • # of teachers: 44
9
GreatSchools Rating

Doerre Intermediate School

  • Education Level: Middle
  • # of students: 1,151
  • # of teachers: 75
8
GreatSchools Rating

Klein Cain High School

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

$279,000$341,000$310,000

PURCHASE PRICE

$2,133$2,607$2,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,370
EXPENSES Loan Payment -$1,144
Property Tax -$741
Property Insurance -$215
HOA -$78
Property Management Fees -$99
CASH FLOW
$93

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.

$310,000

PROJECTED PRICE

$2,370

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.3%
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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,378

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,370

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,219

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,3054$2,3705$2,500
$2,500
RENT COMPS ANALYSIS
  • 9202 Kirkstone Drive Spring, TX 4
    • 3 beds 3 baths ∙ 2,783 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,783 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,370
    • $0.85
    •  
  • 9010 Robinhoods Well Drive Spring, TX 1
    • 3 beds 2 baths ∙ 2,611 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,611 Sqft ∙ Built 1999
    property image
    LEASED 08/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.80
    •  
  • 17634 Memorial Springs Drive Tomball, TX 2
    • 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 1115 Bringewood Chase Drive Spring, TX 3
    • 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 1998
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,305
    • $0.75
    •  
  • 1115 Cheddar Ridge Drive Spring, TX 5
    • 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1999
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kevin Schamel
1.281.954.1152
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82389008
Last Updated: 11/12/2020
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