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1531 Stoney Park Drive Houston, TX 77339

4 Beds 3 Baths 2,197 sqft Built 1997

$245,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $111.52
  • 3 Days on Market
  • MLS # : 54376871
  • Updated Date : 03/13/2021 at 12:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,197 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

** Open House - 3/14 from 2-4PM** This 2 story home offers 4 bedrooms, 2.5 bathrooms, spacious backyard, extra parking space, and an extra flex room/office. There has been lots of upgrades throughout the home. New tile flooring, brand new updated kitchen features granite countertops, resurfaced cabinets, stainless steel appliances and handsome tile backsplash. AC has been replaced along with the duct work. LED Filter and 4 inch media filter help make sure the air is clean and fresh. This home is located with easy access to HWY 59. Make an appointment today!

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: Kingwood Place Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Kingwood Place Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Foster Elementary School Primary Regular 598 34 6
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Foster Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 34
6
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$851
Property Tax -$517
Property Insurance -$176
HOA -$51
Property Management Fees -$99
CASH FLOW
$77

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.

$245,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 9.8%
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$800k$900k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,843

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,895

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7704$1,8005$2,100
$2,100
RENT COMPS ANALYSIS
  • 1531 Stoney Park Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.81
    •  
  • 1907 Westwood Lake Court Houston, TX 1
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1998
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 26907 Squires Park Drive Kingwood, TX 2
    • 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 2007
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 2107 Trail Water Court Houston, TX 4
    • 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,009 Sqft ∙ Built 1995
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 1706 Rustic Park Drive Kingwood, TX 5
    • 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 1996
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
PROPERTY LISTING DETAILS
Douglas Tigtig
1.832.233.2088
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 #: 54376871
Last Updated: 03/13/2021
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