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12418 Meadow Lake Drive Houston, TX 77077

4 Beds 3 Baths 2,793 sqft Built 1982

$360,000

List Price

$2,570

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $128.89
  • 4 Days on Market
  • MLS # : 50867249
  • Updated Date : 02/06/2021 at 17:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,793 sqft
  • Baths : 2 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Gorgeous, well maintained, 2-story home with pool in the Energy Corridor Area. This home boasts a spacious entryway, formal dining room, huge den, and an updated kitchen with granite counters. The warm and inviting living room has 2 story vaulted ceilings, a fireplace, and an updated wet bar with a wine cooler. There is an abundance of natural light and storage throughout the home and many updates including Hardie siding on the exterior, new downstairs AC, hardwood floors in the dining room, and fresh neutral color paint throughout. Enjoy the breathtaking private backyard year-round while taking a dip in the recently remodeled heated pool and spa with new travertine coping, updated tile, and surface. All this coupled with close proximity to Terry Hershey Park and bike trail, City Centre, and Memorial City Mall will make this a place you will want to call home. Hurry and schedule your private showing today!

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: Ashford Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $99k388k

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

Neighborhood: Ashford Hollow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9692181

* 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
 

$324,000$396,000$360,000

PURCHASE PRICE

$2,313$2,827$2,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,570
EXPENSES Loan Payment -$1,250
Property Tax -$759
Property Insurance -$216
HOA -$38
Property Management Fees -$99
CASH FLOW
$208

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.

$360,000

PROJECTED PRICE

$2,570

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530$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$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$18,932

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,570

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,744

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5703$2,6504$2,8005$3,100
$3,100
RENT COMPS ANALYSIS
  • 12418 Meadow Lake Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,793 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $2,570
    • $0.92
    •  
  • 12419 Burgoyne Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1981
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 12243 Gladewick Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,766 Sqft ∙ Built 1980
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.96
    •  
  • 12122 Attlee Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1973
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.07
    •  
  • 2011 Ashgrove Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1981
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.09
    •  
PROPERTY LISTING DETAILS
Danielle Thurman
1.713.371.8866
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50867249
Last Updated: 02/06/2021
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