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15114 Blue Creek Ranch Drive Houston, TX 77086

3 Beds 2 Baths 1,485 sqft Built 2002

$185,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $124.58
  • 8 Days on Market
  • MLS # : 44886180
  • Updated Date : 12/30/2020 at 08:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,485 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to this nice, home wonderful nestled in the Blue Creek Subdivision. It is located right off of the service road, allowing you to have easy access. The roof was replaced on the home in March 2019, as well as the hot water heater was replaced December 2020. You don’t want to miss out on this!

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

Neighborhood: Blue Creek

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Blue Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9051677

* 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
Mcdougle Elementary School Primary Regular 697 59 6
Klein Intermediate School Middle Regular 1,232 93 3
Klein Forest High School High Regular 3,589 258 3

Mcdougle Elementary School

  • Education Level: Primary
  • # of students: 697
  • # of teachers: 59
6
GreatSchools Rating

Klein Intermediate School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 93
3
GreatSchools Rating

Klein Forest High School

  • Education Level: High
  • # of students: 3,589
  • # of teachers: 258
3
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$683
Property Tax -$433
Property Insurance -$128
HOA -$15
Property Management Fees -$99
CASH FLOW
$63

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$185,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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

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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,844

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3753$1,4004$1,4205$1,550
$1,550
RENT COMPS ANALYSIS
  • 15114 Blue Creek Ranch Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.96
    •  
  • 10931 Wilkenburg Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,316 Sqft ∙ Built 1982
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.91
    •  
  • 15323 Western Skies Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,295 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.06
    •  
  • 15515 Western Skies Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 7415 Greenyard Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,678 Sqft ∙ Built 2016
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.92
    •  
PROPERTY LISTING DETAILS
Antrechelle Schumack
1.281.484.0066
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44886180
Last Updated: 12/30/2020
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