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14203 Hillvale Drive Houston, TX 77077

3 Beds 3 Baths 2,226 sqft Built 1980

INVESTimate

$280,000

List Price

$2,180

$1,962 - $2,398

Rent Est.

$290,612  ( +3.79%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $125.79
  • 5 Days on Market
  • MLS # : 4563387
  • Updated Date : 08/22/2020 at 21:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,226 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home Choice Realty

Listing Agent's Description

Award winning Barbara Bush Elementary School within biking or walking distance. Highly rated John Paul Catholic School very near. Beautiful open floor with high ceilings. All new flooring and carpet. Granite kitchen completely remodeled with large breakfast and bay window. Five shelf pantry. All new paint throughout. All new light fixtures and ceiling fans. New oaks stair treads and railings. Close to new community club house and pool with adjoining tennis courts. Terry Hershey Park right behind it. 10 Miles of hiking and biking trails along Buffalo Bayou almost 500 acres. Heavily wooded, foliage and wildlife. Peaceful Zen for you! Plenty of nearby shopping and many restaurants. HOA contracts with Pct 3 for Constable Patrol. So slow down! Close to I-10, Hwy 6, Sam Houston Tollway, Grand Pkwy 99, Westpark Tollway. City Centre ,Town and Country, Memorial City and Katy Mills Mall. All major hospitals located along I-10. Park and Ride for your convenience. Friendly active neighborhood!

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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

Neighborhood: Briarhills

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $99k384k

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

Neighborhood: Briarhills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100220023002400Rent in $9692416

* 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
Barbara Bush Elementary School Primary Regular 834 41 10
West Briar Middle School Middle Regular 1,051 62 7
Westside High School High Magnet 2,748 146 7

Barbara Bush Elementary School

  • Education Level: Primary
  • # of students: 834
  • # of teachers: 41
10
GreatSchools Rating

West Briar Middle School

  • Education Level: Middle
  • # of students: 1,051
  • # of teachers: 62
7
GreatSchools Rating

Westside High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 146
7
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 $2,180
EXPENSES Loan Payment -$1,033
Property Tax -$590
Property Insurance -$178
HOA -$69
Property Management Fees -$99
CASH FLOW
$210

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.

$280,000

PROJECTED PRICE

$2,180

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.79%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$19,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,170

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0253$2,1004$2,1805$2,300
$2,300
RENT COMPS ANALYSIS
  • 14203 Hillvale Drive Houston, TX 4
    • 3 beds 3 baths ∙ 2,226 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,226 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.98
    •  
  • 1406 Forest Home Drive Houston, TX 1
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1979
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.91
    •  
  • 14223 Woodnook Drive Houston, TX 2
    • 3 beds 2 baths ∙ 2,204 Sqft ∙ Built 1980 3 beds 2 baths ∙ 2,204 Sqft ∙ Built 1980
    property image
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,025
    • $0.92
    •  
  • 14138 Stokesmount Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,157 Sqft ∙ Built 1978
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 14138 Hillvale Drive Houston, TX 5
    • 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,088 Sqft ∙ Built 1978
    property image
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.10
    •  
PROPERTY LISTING DETAILS
Trey Bunde
1.281.793.1037
Home Choice Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 4563387
Last Updated: 08/22/2020
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