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1506 Wexford Drive Deer Park, TX 77536

3 Beds 2 Baths 1,634 sqft Built 1985

$220,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $134.64
  • 3 Days on Market
  • MLS # : 82229097
  • Updated Date : 01/22/2021 at 15:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,634 sqft
  • Baths : 2 full
Listing Agent

True Grit Realty Group

Listing Agent's Description

This is it! Welcome home! Open concept with spacious kitchen, living room features high ceilings/gas log fireplace, new picture window in formal dining, split floor plan, breakfast bar, kitchen open to living room, remodeled master bath to include double sinks, garden tub, and separate shower(2020). HVAC replaced in 2019 with a high efficiency units, new carpet in bedrooms (2018), laminate flooring installed in common areas (2020), new windows installed 2020, covered patio, storage shed in back yard. Video/audio doorbell and thermostat by Nest. Windows come with a warranty for breakage and a limited warranty for seals and calking. Home is equipped with hearing impaired smoke detectors wired into the home. Ask your Agent about other Amenities not mentioned like upgraded gutters!

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: Westside Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $100k305k

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

Neighborhood: Westside Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9352063

* 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
Carpenter Elementary School Primary Regular 814 53 7
Bonnette Junior High School Middle Regular 775 47 5
Deer Park High School South Campus High Regular 4,103 258 6

Carpenter Elementary School

  • Education Level: Primary
  • # of students: 814
  • # of teachers: 53
7
GreatSchools Rating

Bonnette Junior High School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 47
5
GreatSchools Rating

Deer Park High School South Campus

  • Education Level: High
  • # of students: 4,103
  • # of teachers: 258
6
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$764
Property Tax -$563
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$106

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.

$220,000

PROJECTED PRICE

$1,670

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.3%
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-$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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$7,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,671

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,7003$1,7504$1,7505$1,825
$1,825
RENT COMPS ANALYSIS
  • 1506 Wexford Drive Deer Park, TX 1
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.02
    •  
  • 3110 Brookhurst Lane Deer Park, TX 2
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1979
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.12
    •  
  • 1902 Whitebriar Drive Deer Park, TX 3
    • 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,786 Sqft ∙ Built 1982
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.98
    •  
  • 2325 Walnut Court Deer Park, TX 4
    • 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,805 Sqft ∙ Built 1979
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.97
    •  
  • 1817 New Orleans Street Deer Park, TX 5
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1975
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.02
    •  
PROPERTY LISTING DETAILS
Shelly Mattingly-arnold
1.281.415.5224
True Grit Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82229097
Last Updated: 01/22/2021
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