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12540 Canyon Hill Drive Willis, TX 77318

4 Beds 2 Baths 1,828 sqft Built 2013

$219,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $119.80
  • 4 Days on Market
  • MLS # : 51430909
  • Updated Date : 01/08/2021 at 18:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,828 sqft
  • Baths : 2 full
Listing Agent

Texas State Realty

Listing Agent's Description

Charming one story home with 4 bedrooms and easy access to I-45! No back neighbors! This lovely home has been meticulously cared for by its owners and offers new luxury vinyl plank flooring (LVT) installed throughout - no carpet anywhere - water softener, five exterior camera security system and so many more upgrades. Open floorplan with enormous island kitchen, new gas range and stainless appliances, breakfast bar and charming skylight. The living room is open to the kitchen and dining area for easy entertaining. New light fixtures installed! Large master suite with plenty of natural light, double vanities, walk in shower, and oversized soaking tub. The backyard is fantastic with an enormous newly poured concrete patio, firepit area, and best of all no back neighbors! No flooding! Easy access to I-45, shopping and dining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 77318

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $97k305k

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

Zip Code: 77318

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8172063

* 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
C.c. Hardy Elementary School Primary Regular 676 39 3
Lynn Lucas Middle School Middle Regular 774 47 3
Willis High School High Regular 1,944 117 4

C.c. Hardy Elementary School

  • Education Level: Primary
  • # of students: 676
  • # of teachers: 39
3
GreatSchools Rating

Lynn Lucas Middle School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 47
3
GreatSchools Rating

Willis High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 117
4
GreatSchools Rating
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$761
Property Tax -$417
Property Insurance -$133
HOA -$19
Property Management Fees -$99
CASH FLOW
$92

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.

$219,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,884

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,394

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,2753$1,3254$1,5005$1,520
$1,520
RENT COMPS ANALYSIS
  • 12540 Canyon Hill Drive Willis, TX 5
    • 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,828 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.83
    •  
  • 9506 Cedar Ridge Court Willis, TX 1
    • 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,560 Sqft ∙ Built 1998
    LEASED 10/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.77
    •  
  • 9626 Cedar Ridge Court Willis, TX 2
    • 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,664 Sqft ∙ Built 2000
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.77
    •  
  • 13050 Oak Manor Court Willis, TX 3
    • 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,800 Sqft ∙ Built 1998
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.74
    •  
  • 12569 Canyon Hill Drive Willis, TX 4
    • 3 beds 2 baths ∙ 1,939 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,939 Sqft ∙ Built 2005
    LEASED 11/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.77
    •  
PROPERTY LISTING DETAILS
Raquel Knobloch
1.832.673.8652
Texas State Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 51430909
Last Updated: 01/08/2021
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