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10315 Buffalo Bend Drive Houston, TX 77064

3 Beds 2 Baths 1,390 sqft Built 1980

$169,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $122.23
  • 3 Days on Market
  • MLS # : 15679475
  • Updated Date : 03/13/2021 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,390 sqft
  • Baths : 2 full
Listing Agent

Elite Texas Properties

Listing Agent's Description

Beautifully maintained Patio Home in a great location! Charm abounds in this 3/2/2 w/Covered patio for enjoying the peaceful privacy! 2 car carport with storage shed or small workshop area! Primary bedroom is very spacious with a sitting area, overlooks patio. Nicely appointed primary bath, hall bath between 2 secondary bedrooms! In house utility, Lovely fireplace! Laminate flooring, great for pets! carpet in bedrooms This one has it all! A true gem you won't be disappointed! Cy-fair schools, close to many amenities!

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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: White Oak Bend

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $82k222k

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

Neighborhood: White Oak Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8041677

* 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
Bang Elementary School Primary Regular 959 59 5
Campbell Middle School Middle Regular 1,341 84 5
Cypress Ridge High School High Regular 3,030 195 5

Bang Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 59
5
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,341
  • # of teachers: 84
5
GreatSchools Rating

Cypress Ridge High School

  • Education Level: High
  • # of students: 3,030
  • # of teachers: 195
5
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$590
Property Tax -$434
Property Insurance -$121
HOA -$18
Property Management Fees -$99
CASH FLOW
$107

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.

$169,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$8,081

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,369

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3703$1,4004$1,4755$1,500
$1,500
RENT COMPS ANALYSIS
  • 10315 Buffalo Bend Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.99
    •  
  • 10303 Foxrow Houston, TX 1
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 1979
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.97
    •  
  • 10719 Fallbrook Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 1982
    property image
    LEASED 02/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
  • 10818 Indian Vista Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 1980
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.02
    •  
  • 10915 Fallbrook Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 1983
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
PROPERTY LISTING DETAILS
Kyle Smith
1.832.642.4727
Elite Texas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 15679475
Last Updated: 03/13/2021
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