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12576 Canyon Hill Drive Willis, TX 77318

4 Beds 3 Baths 2,383 sqft Built 2012

INVESTimate

$214,876

List Price

$1,610

$1,449 - $1,771

Rent Est.

$221,859  ( +3.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 2012
  • Price/Sqft : $90.17
  • 8 Days on Market
  • MLS # : 97719162
  • Updated Date : 08/19/2020 at 13:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,383 sqft
  • Baths : 2 full , 1 half
Listing Agent

Top Guns Realty On Lake Conroe

Listing Agent's Description

Well Kept home in Canyon Falls Subdivision on a cul-de-sac. 4 Bedrooms 2 1/2 baths plus large game room upstairs. Granite counter tops, open floor plan and a large backyard. Great location and in Will ISD. Schedule your 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

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
 

$193,388$236,364$214,876

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$793
Property Tax -$464
Property Insurance -$165
HOA -$19
Property Management Fees -$99
CASH FLOW
$71

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.

$214,876

PROJECTED PRICE

$1,610

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.25%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,692

INVESTMENT

$62,692

Down Payment
$53,719
Rehab Estimate
$5,750
Closing Costs
$3,223

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,719
Loan Amount $161,157
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$7,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,454

    COMP ESTIMATED VALUE
  • $0.61

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,610
$1,610
RENT COMPS ANALYSIS
  • 12576 Canyon Hill Drive Willis, TX 2
    • 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.68
    •  
  • 12565 Canyon Hill Drive Willis, TX 1
    • 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,616 Sqft ∙ Built 2007
    LEASED 10/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.61
    •  
PROPERTY LISTING DETAILS
Amber Priest
1.210.854.4100
Top Guns Realty On Lake Conroe
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 97719162
Last Updated: 08/19/2020
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