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12119 Burgoyne Drive Houston, TX 77077

3 Beds 3 Baths 2,981 sqft Built 1985

$399,000

List Price

$2,860

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $133.85
  • 5 Days on Market
  • MLS # : 91400056
  • Updated Date : 01/21/2021 at 12:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,981 sqft
  • Baths : 2 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

Beautiful one-story home located in the highly desirable neighborhood of Shadowbriar located minutes to the Energy Corridor, City Center, Memorial City and The Galleria. Featuring Formal Living, Formal Dining, Den, Island Kitchen with double oven, abundant cabinets opens to Breakfast Area, 3 bedrooms with ceiling fans and a Study that can be used as a 4th bedroom. Large Primary Bedroom with ensuite bath with separate shower and soaking tub, private sitting area that opens to cover patio. Grand double-door entry, vaulted ceilings, custom built-ins, numerous windows, fresh paint, new carpet and generous room sizes through-out this well-maintained home. Detached 2-car garage with extended gated double-driveway and covered patio backyard for entertaining! Quiet neighborhood, Magnet Elementary School, community pool and tennis courts within walking distance. Matterport 3-D virtual tour for your convenience or schedule your private viewing. Don’t miss the opportunity on this great home!

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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: Shadowbriar

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $99k408k

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

Neighborhood: Shadowbriar

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9692389

* 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
Shadowbriar Elementary School Primary Regular 399 28 4
West Briar Middle School Middle Regular 1,051 62 7
Westside High School High Magnet 2,748 146 7

Shadowbriar Elementary School

  • Education Level: Primary
  • # of students: 399
  • # of teachers: 28
4
GreatSchools Rating

West Briar Middle School

  • Education Level: Middle
  • # of students: 1,051
  • # of teachers: 62
7
GreatSchools Rating

Westside High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 146
7
GreatSchools Rating
 

$359,100$438,900$399,000

PURCHASE PRICE

$2,574$3,146$2,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,860
EXPENSES Loan Payment -$1,386
Property Tax -$973
Property Insurance -$229
HOA -$54
Property Management Fees -$99
CASH FLOW
$120

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.

$399,000

PROJECTED PRICE

$2,860

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$111,485

INVESTMENT

$111,485

Down Payment
$99,750
Rehab Estimate
$5,750
Closing Costs
$5,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,386

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,750
Loan Amount $299,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$11,470

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,860

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,921

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6003$2,8604$3,1005$3,250
$3,250
RENT COMPS ANALYSIS
  • 12119 Burgoyne Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,981 Sqft ∙ Built 1985 3 beds 3 baths ∙ 2,981 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,860
    • $0.96
    •  
  • 2111 Shadybriar Drive Houston, TX 1
    • 3 beds 3 baths ∙ 3,056 Sqft ∙ Built 1983 3 beds 3 baths ∙ 3,056 Sqft ∙ Built 1983
    property image
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.80
    •  
  • 1704 Crystal Hills Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 1973
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.93
    •  
  • 2011 Ashgrove Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1981
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.09
    •  
  • 3106 Ashton Park Drive Houston, TX 5
    • 4 beds 4 baths ∙ 2,958 Sqft ∙ Built 1979 4 beds 4 baths ∙ 2,958 Sqft ∙ Built 1979
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,250
    • $1.10
    •  
PROPERTY LISTING DETAILS
Neil Nguyen
1.281.725.1310
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91400056
Last Updated: 01/21/2021
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