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14322 Morning Lodge Lane Houston, TX 77044

4 Beds 2 Baths 2,480 sqft Built 2006

$264,900

List Price

$2,070

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $106.81
  • 4 Days on Market
  • MLS # : 36022569
  • Updated Date : 02/12/2021 at 16:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,480 sqft
  • Baths : 2 full
Listing Agent

Martha Turner Sotheby's

Listing Agent's Description

This one story Summerwood beauty is located off Deussen Parkway, close to the brand new flagship school Centennial Elementary. An elegant floorplan that flows easily with your lifestyle awaits. Beautiful tile flooring throughout most of the first floor with carpeting in the bedrooms. The primary has its own large en-suite bathroom, the large kitchen is an open floorplan with the living room and breakfast room. Formal dining room for entertaining. Large living room with room for large furniture. This house has a double-wide driveway and two car attached garage. Enjoy all the amenities of Summerwood master planned community, and easy access to Beltway 8 from W. Lake Houston Parkway or Lake Houston Parkway.

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

Neighborhood: Lake Houston

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Lake Houston

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9692290

* 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
Lakeshore Elementary School Primary Regular 954 60 6
Woodcreek Middle School Middle Regular 1,313 75 7
Summer Creek High School High Regular 2,427 148 5

Lakeshore Elementary School

  • Education Level: Primary
  • # of students: 954
  • # of teachers: 60
6
GreatSchools Rating

Woodcreek Middle School

  • Education Level: Middle
  • # of students: 1,313
  • # of teachers: 75
7
GreatSchools Rating

Summer Creek High School

  • Education Level: High
  • # of students: 2,427
  • # of teachers: 148
5
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,863$2,277$2,070

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,070
EXPENSES Loan Payment -$920
Property Tax -$692
Property Insurance -$195
HOA -$74
Property Management Fees -$99
CASH FLOW
$91

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.

$264,900

PROJECTED PRICE

$2,070

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.2%
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$700k

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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,004

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,070

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,133

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,0704$2,2005$2,235
$2,235
RENT COMPS ANALYSIS
  • 14322 Morning Lodge Lane Houston, TX 3
    • 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,480 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,070
    • $0.83
    •  
  • 14127 Austin Hollow Court Houston, TX 1
    • 3 beds 3 baths ∙ 2,386 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,386 Sqft ∙ Built 2004
    LEASED 10/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 13706 Parkers Cove Court Houston, TX 2
    • 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,323 Sqft ∙ Built 2006
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 14318 Stonebury Trail Lane Houston, TX 4
    • 3 beds 2 baths ∙ 2,530 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,530 Sqft ∙ Built 2010
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
  • 13743 Rolling River Lane Houston, TX 5
    • 4 beds 2 baths ∙ 2,505 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,505 Sqft ∙ Built 2005
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,235
    • $0.89
    •  
PROPERTY LISTING DETAILS
Nikol Markert
1.281.359.6800
Martha Turner Sotheby's
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 36022569
Last Updated: 02/12/2021
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