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12707 Skyknoll Lane Houston, TX 77082

3 Beds 2 Baths 1,737 sqft Built 1982

$175,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

February 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $100.75
  • 7 Days on Market
  • MLS # : 69283108
  • Updated Date : 02/05/2021 at 10:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,737 sqft
  • Baths : 2 full
Listing Agent

Re/max Real Estate Assoc.

Listing Agent's Description

A beautiful 3 Bedroom, 2 Bath home situated on a huge cul-de-sac lot with no back neighbors. This cozy home features an island kitchen with smooth surface cooktop, ceramic tile flooring, spacious bedrooms and a huge living room with a vaulted ceiling and brick fireplace. The master suite has a walk-in closet, dual vanities, and an oversized shower. The exterior features a driveway that has been recently redone and a spacious backyard with a covered patio that is perfect for relaxing on a sunny day. This home is a must see!

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 Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $99k238k

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

Neighborhood: Ashford Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9611677

* 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
Heflin Elementary School Primary Regular 816 58 4
O'donnell Middle School Middle Regular 1,263 91 6
Hastings High School High Regular 3,890 260 4

Heflin Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 58
4
GreatSchools Rating

O'donnell Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 91
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$608
Property Tax -$369
Property Insurance -$145
HOA -$46
Property Management Fees -$99
CASH FLOW
$154

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.

$175,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.9%
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$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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$12,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,416

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4203$1,4504$1,4505$1,550
$1,550
RENT COMPS ANALYSIS
  • 12707 Skyknoll Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,737 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.82
    •  
  • 12704 Westpark Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1983
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.74
    •  
  • 12803 Sunset Dune Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,869 Sqft ∙ Built 1982
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.78
    •  
  • 12712 Sunset Dune Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1978
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 12719 Sunset Dune Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1982
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
PROPERTY LISTING DETAILS
Deepa Buxani
1.843.424.1835
Re/max Real Estate Assoc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69283108
Last Updated: 02/05/2021
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