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13091 Skyline Drive Willis, TX 77318

4 Beds 2 Baths 2,102 sqft Built 2017

$255,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $121.31
  • 30 Days on Market
  • MLS # : 40336431
  • Updated Date : 03/27/2021 at 10:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,102 sqft
  • Baths : 2 full
Listing Agent

R Group Realtors, Llc

Listing Agent's Description

Must See! Beautiful One Story Home in well Sought After Willis Area. Four Bedroom, two bathrooms, family room and a Formal Dinning Area. Large Kitchen with Granite Countertops and Large Bay Window Breakfast Area. Stunning Wood Cabinets and a Serving/Breakfast Bar. Master Bath with Double Sinks, Tub with Separate Shower, Big Walk-In Closet. Secondary Bath. Utility Room.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Conroe Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $91k222k

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

Neighborhood: Lake Conroe Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7531677

* 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
W. Lloyd Meador Elementary School Primary Regular 771 43 7
Robert P. Brabham Middle School Middle Regular 791 43 5
Willis High School High Regular 1,944 117 4

W. Lloyd Meador Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 43
7
GreatSchools Rating

Robert P. Brabham Middle School

  • Education Level: Middle
  • # of students: 791
  • # of teachers: 43
5
GreatSchools Rating

Willis High School

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

$229,500$280,500$255,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$886
Property Tax -$552
Property Insurance -$148
HOA -$17
Property Management Fees -$99
CASH FLOW
$59

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.

$255,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) -0.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,379

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,855

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7604$1,8255$1,850
$1,850
RENT COMPS ANALYSIS
  • 13091 Skyline Drive Willis, TX 3
    • 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,102 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.84
    •  
  • 12630 Ridgecrest Drive Willis, TX 1
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2006
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 12635 Virgo Drive Willis, TX 2
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2003
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.91
    •  
  • 12550 Sagittarius Drive Willis, TX 4
    • 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,127 Sqft ∙ Built 1998
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.86
    •  
  • 13239 Lazy Lane Willis, TX 5
    • 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2012
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
PROPERTY LISTING DETAILS
Charles Ridley
1.281.890.0400
R Group Realtors, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40336431
Last Updated: 03/27/2021
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