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47 W New Avery Place The Woodlands, TX 77382

3 Beds 3 Baths 1,904 sqft Built 1998

INVESTimate

$285,000

List Price

$1,870

$1,683 - $2,057

Rent Est.

$81,275

Investment Est.

$293,322  ( +2.92%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $149.68
  • 2 Days on Market
  • MLS # : 76279996
  • Updated Date : 08/25/2020 at 15:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Charming Life Forms home nestled in the sought after neighborhood of Autumn Branch and located on a quiet cul-de-sac street. Cute craftsman style home featuring front porch, open floor plan which allows for spacious, flexible living throughout. Soaring two story entry with wall of windows, two living areas down with a small game room upstairs. The Island kitchen features, granite counters, gas cook top and plenty of storage opens to family room. The upstairs master suite features a private balcony. Plus spacious backyard (room for a pool), sprinkler system and 2 car garage. Conveniently located close to Alden Bridge shopping center and just a short bike ride away from schools and parks. Come enjoy all of the amenities The Woodlands has to offer. MAKE THIS ONE YOURS!

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MARKET HIGHLIGHTS

Houston Market Report
  • 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
 

FINANCIALS

Learn how to read this

$256,500$313,500$285,000

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

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-$4.0k-$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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$1,052
Property Tax -$567
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
$20

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.

$285,000

PROJECTED PRICE

$1,870

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.92%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment		 $71,250
Rehab Estimate		 $5,750
Closing Costs		 $4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$7,920

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT

  • $1.02

    LIST RENT PER SQFT

  • $1,875

    COMP ESTIMATED VALUE

  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8704$1,8905$1,900
$1,900
RENT COMPS ANALYSIS
  • 47 W New Avery Place The Woodlands, TX 3
    • 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1998 3 beds 3 baths ∙ 1,829 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.02
    •  
  • 27 Leaf Spring Place The Woodlands, TX 1
    • 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,826 Sqft ∙ Built 1996
    LEASED 11/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 6 Green Slope The Woodlands, TX 2
    • 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1987 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 1987
    LEASED 01/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.07
    •  
  • 19 E Gaslight Place The Woodlands, TX 4
    • 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,900 Sqft ∙ Built 1996
    LEASED 10/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.99
    •  
  • 169 Hollylaurel The Woodlands, TX 5
    • 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,809 Sqft ∙ Built 1997
    LEASED 10/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.05
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Joyce Hanson
1.281.734.0370
Bhgre Gary Greene
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76279996
Last Updated: 08/25/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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