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13497 Dream Point Lane Willis, TX 77318

4 Beds 2 Baths 2,044 sqft Built 1983

$200,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Built In 1983
  • Price/Sqft : $97.85
  • 64 Days on Market
  • MLS # : 42392639
  • Updated Date : 11/01/2020 at 16:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Windsor Hill Real Estate Group

Listing Agent's Description

Escape the hustle and noise of the city with this remodeled retreat with spacious wraparound porch that allows stunning views of Lake Conroe. You'll love the bright and contemporary finishes in the kitchen that includes new cabinetry, custom backsplash, and new stove and dishwasher. Water resistant vinyl plank flooring in all common and wet areas are both stylish, durable and easy to maintain. The master suite is truly an owner's retreat with oversized windows and bath with custom shower. Check out the virtual tour to see it all!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (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
Parmley Elementary School Primary Regular 751 41 4
Lynn Lucas Middle School Middle Regular 774 47 3
Willis High School High Regular 1,944 117 4

Parmley Elementary School

  • Education Level: Primary
  • # of students: 751
  • # of teachers: 41
4
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
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$738
Property Tax -$354
Property Insurance -$145
HOA -$5
Property Management Fees -$99
CASH FLOW
$239

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.

$200,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.79%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

7.92

YEARS SAVED

$24,462

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,846

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,580
1$1,5802$1,6503$1,6754$1,700
$1,700
RENT COMPS ANALYSIS
  • 13497 Dream Point Lane Willis, TX 1
    • 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.77
    •  
  • 13123 Mariners Court Willis, TX 2
    • 4 beds 4 baths ∙ 1,958 Sqft ∙ Built 1983 4 beds 4 baths ∙ 1,958 Sqft ∙ Built 1983
    property image
    LEASED 04/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 13859 Ventura Road Willis, TX 3
    • 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1979 4 beds 2 baths ∙ 1,854 Sqft ∙ Built 1979
    property image
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.90
    •  
  • 13153 Lake Conroe Bay Road Willis, TX 4
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1971 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1971
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.97
    •  
PROPERTY LISTING DETAILS
Nicole Garner
1.281.450.1810
Windsor Hill Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 42392639
Last Updated: 11/01/2020
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