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13615 Splintered Oak Drive Houston, TX 77065

4 Beds 2 Baths 1,874 sqft Built 1981

INVESTimate

$199,900

List Price

$1,550

$1,395 - $1,705

Rent Est.

$218,011  ( +9.06%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1981
  • Price/Sqft : $106.67
  • 9 Days on Market
  • MLS # : 84193614
  • Updated Date : 08/20/2020 at 14:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,874 sqft
  • Baths : 2 full
Listing Agent

Home Topic Realty

Listing Agent's Description

Wonderful 4 bedroom home in the heart of Cy-Fair. The floors have been covered in a high grade epoxy metallic leaving them sparkling and nearly indestructible. These floors are easy to clean and are virtually scratch proof. Spacious back yard with great shade trees. Call your Realtor for a private 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

Neighborhood: Oak Cliff Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Oak Cliff Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8571677

* 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
Millsap Elementary School Primary Regular 723 46 7
Arnold Middle School Middle Regular 1,545 92 8
Cy-fair High School High Regular 3,656 212 8

Millsap Elementary School

  • Education Level: Primary
  • # of students: 723
  • # of teachers: 46
7
GreatSchools Rating

Arnold Middle School

  • Education Level: Middle
  • # of students: 1,545
  • # of teachers: 92
8
GreatSchools Rating

Cy-fair High School

  • Education Level: High
  • # of students: 3,656
  • # of teachers: 212
8
GreatSchools Rating
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

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$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$738
Property Tax -$422
Property Insurance -$154
HOA -$22
Property Management Fees -$99
CASH FLOW
$116

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.

$199,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.06%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% 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 $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,153

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,630

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5003$1,5004$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 13615 Splintered Oak Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,874 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 13618 Piney Oaks Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1982
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 13515 Oak Ledge Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1981
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
  • 13519 Wimbledon Oaks Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,743 Sqft ∙ Built 1983
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 13410 Oak Ledge Drive Houston, TX 4
    • 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,780 Sqft ∙ Built 1981
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
PROPERTY LISTING DETAILS
Marcus Zepeda
Home Topic Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84193614
Last Updated: 08/20/2020
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