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95 W Jagged Ridge Circle Spring, TX 77389

3 Beds 2 Baths 2,284 sqft Built 2010

$324,900

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $142.25
  • 3 Days on Market
  • MLS # : 8898529
  • Updated Date : 11/21/2020 at 19:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,284 sqft
  • Baths : 2 full
Listing Agent

Jla Realty

Listing Agent's Description

BEAUTIFUL HOME & READY FOR IMMEDIATE MOVE-IN!! Home is situated on oversized lot with fully fenced back yard. Landscaping is incredible! Enjoy your peaceful view across your front yard with a private park. You'll notice this home is in mint condition. You're offered an open floor plan that flows very easily between the living/kitchen/breakfast rooms. Your back patio is customized and perfect for entertaining. ENDLESS OPPORTUNITIES W/ THIS PROPERTY!! This neighborhood is zoned to top ranking schools & offers many walking trails in the area. High & dry! Ready for your arrival!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10723103

* 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
Timber Creek Elementary School Primary Unknown 656 41 10
Tomball Intermediate School Middle Regular 715 53 8
Tomball High School High Regular 1,624 93 8

Timber Creek Elementary School

  • Education Level: Primary
  • # of students: 656
  • # of teachers: 41
10
GreatSchools Rating

Tomball Intermediate School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 53
8
GreatSchools Rating

Tomball High School

  • Education Level: High
  • # of students: 1,624
  • # of teachers: 93
8
GreatSchools Rating
 

$292,410$357,390$324,900

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,199
Property Tax -$761
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
$70

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.

$324,900

PROJECTED PRICE

$2,310

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.0%
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-$5.0k$0.0$5.0k$10k

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$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$9,907

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,364

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2503$2,3104$2,3505$2,400
$2,400
RENT COMPS ANALYSIS
  • 95 W Jagged Ridge Circle Spring, TX 3
    • 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,284 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.01
    •  
  • 11 Silver Arrow Court Spring, TX 1
    • 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2011
    LEASED 07/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.01
    •  
  • 99 W Jagged Ridge Circle Spring, TX 2
    • 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,250 Sqft ∙ Built 2012
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.00
    •  
  • 71 W Jagged Ridge Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,280 Sqft ∙ Built 2011
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.03
    •  
  • 11 Arrowfeather Place The Woodlands, TX 5
    • 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,185 Sqft ∙ Built 2011
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
PROPERTY LISTING DETAILS
Kelton Farmer
1.936.933.1877
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 8898529
Last Updated: 11/21/2020
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