Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

95 Bitterwood Circle The Woodlands, TX 77381

3 Beds 2 Baths 1,357 sqft Built 1982

$244,900

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $180.47
  • 6 Days on Market
  • MLS # : 6222604
  • Updated Date : 02/23/2021 at 11:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,357 sqft
  • Baths : 2 full
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Located in Highly Desired subdivision of Bitterwood located in Panther Creek. Charming single story patio home with open concept living and tasteful updates throughout! The exterior has been recently painted and mature landscaping provides plenty of privacy and welcoming curb appeal. The entry opens to the living room, accented by vaulted ceilings and a cozy fireplace, seamlessly flowing into the kitchen and sunny dining area. Laundry room adjacent to kitchen. Access the spacious deck and private backyard through the living room- perfect for indoor/outdoor living.Check out the Out Bldg- could be ofc or she/he cave. The master en suite offers granite counters with double sinks & walk in closet. Two secondary bedrooms for family and guests, in addition to a second full bath. Updates completed Dec. 2020 include: SS appliances, kitchen & bathroom granite countertops, bathroom sinks, laminate flooring, carpet, interior & exterior paint. This one won't last long. Contact me for a tour!

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: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k368k

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

Neighborhood: Panther Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722236

* 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
Glen Loch Elementary School Primary Regular 640 37 6
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Glen Loch Elementary School

  • Education Level: Primary
  • # of students: 640
  • # of teachers: 37
6
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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$851
Property Tax -$463
Property Insurance -$106
Property Management Fees -$99
CASH FLOW
$112

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.

$244,900

PROJECTED PRICE

$1,630

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$11,594

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,625

    COMP ESTIMATED VALUE
  • $1.2

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6304$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 95 Bitterwood Circle The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $1.20
    •  
  • 8 Green Haven Drive The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,289 Sqft ∙ Built 1982
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.16
    •  
  • 43 Bitterwood Circle The Woodlands, TX 2
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1982
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.18
    •  
  • 94 Bitterwood Circle Spring, TX 4
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 1982
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.20
    •  
  • 86 Bitterwood Circle The Woodlands, TX 5
    • 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,357 Sqft ∙ Built 1982
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.25
    •  
PROPERTY LISTING DETAILS
Nancy Dematteo
1.281.543.9855
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6222604
Last Updated: 02/23/2021
BESbswy