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15015 Middle Oaks Boulevard Houston, TX 77082

3 Beds 3 Baths 2,445 sqft Built 2002

$237,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $96.93
  • 3 Days on Market
  • MLS # : 88566092
  • Updated Date : 01/08/2021 at 15:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,445 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ca Modern Realty, Llc

Listing Agent's Description

Amazingly remodeled home in a mature neighborhood is waiting for you! New paint throughout the house! Spacious master bedroom, bathroom, and closets! New lighting fixtures throughout the house! Great backyard perfect for those gatherings! Brand new carpet throughout the house! New stainless steel appliances! Won't last, call today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 77082

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $99k233k

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

Zip Code: 77082

ZipNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9671677

* 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
 

$213,300$260,700$237,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$823
Property Tax -$516
Property Insurance -$192
HOA -$25
Property Management Fees -$99
CASH FLOW
$64

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.

$237,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.73%

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$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$68,555

INVESTMENT

$68,555

Down Payment
$59,250
Rehab Estimate
$5,750
Closing Costs
$3,555

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$823

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,250
Loan Amount $177,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,620

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,803

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7203$1,7504$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 15015 Middle Oaks Boulevard Houston, TX 2
    • 3 beds 3 baths ∙ 2,445 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,445 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.70
    •  
  • 14955 Tuttle Point Drive Houston, TX 1
    • 3 beds 2 baths ∙ 2,263 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,263 Sqft ∙ Built 2006
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.73
    •  
  • 15007 Sapling Oak Court Houston, TX 3
    • 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1999
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 3210 Cherrybark Oak Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
  • 15306 Gatesbury Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1995
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
PROPERTY LISTING DETAILS
Candice Harris
1.713.417.3702
Ca Modern Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88566092
Last Updated: 01/08/2021
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