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14955 Atmore Place Drive Houston, TX 77082

3 Beds 3 Baths 1,808 sqft Built 2006

$204,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $112.83
  • 48 Days on Market
  • MLS # : 62769957
  • Updated Date : 12/22/2020 at 08:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,808 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Gated Community. Lovely two story 3/2.5/2, Fresh paint, New granite counters in kitchen and bathrooms, New sinks, New faucets in master bedroom and hall bath, new dishwasher. New carpet in all bedrooms and stair. Stove and oven recently replaced. Laminated wood floor in family room and dining area. Tile floors in entry, kitchen, bathrooms, and utility room. Water filtration system under the sink. Water softener, and 4 security cameras. Minutes from West Oak Mall, Restaurants, and shopping. Easy access to Hwy 6 and I-10 via Hwy 6. This property is one of the few properties in the complex having driveway which can park the cars on the driveway and a backyard space.

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: West Oaks Place

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230k240kPrice in $99k243k

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

Neighborhood: West Oaks Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9151677

* 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
Miller Intermediate School Primary Regular 872 63 6
Albright Middle School Middle Regular 1,267 87 6
Hastings High School High Regular 3,890 260 4

Miller Intermediate School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 63
6
GreatSchools Rating

Albright Middle School

  • Education Level: Middle
  • # of students: 1,267
  • # of teachers: 87
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$183,600$224,400$204,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$753
Property Tax -$430
Property Insurance -$149
HOA -$73
Property Management Fees -$99
CASH FLOW
$96

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.

$204,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.6%
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$600k

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$59,810

INVESTMENT

$59,810

Down Payment
$51,000
Rehab Estimate
$5,750
Closing Costs
$3,060

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$753

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,000
Loan Amount $153,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,869

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,695

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5993$1,6004$1,6005$1,750
$1,750
RENT COMPS ANALYSIS
  • 14955 Atmore Place Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,808 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 14747 Briceland Springs Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 2006
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 14731 Loxley Meadows Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 2005
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.93
    •  
  • 14616 Branchwest Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 2011
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 14722 Briceland Springs Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,793 Sqft ∙ Built 2006
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
PROPERTY LISTING DETAILS
Ken Luu
1.281.265.4623
Re/max Fine Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62769957
Last Updated: 12/22/2020
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