Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

15547 Prairie Oaks Drive Houston, TX 77083

3 Beds 2 Baths 1,478 sqft Built 1996

$195,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $131.94
  • 2 Days on Market
  • MLS # : 38707652
  • Updated Date : 01/09/2021 at 20:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,478 sqft
  • Baths : 2 full
Listing Agent

Kinh Do Realty

Listing Agent's Description

One beautiful story with 3 bedroom, 2 full bath, large living rom with high ceiling and fireplace. This house has a lot of upgrades: new water heater, A/C condenser (Yr 2018), roof(Yr 2016), granite countertop, tile. You will enjoy this house with plenty of natural light, huge backyard and spacious area. Convenient to super markets, shopping center, highways, LOW TAX, NO FLOODING. Camera is removed before closing. Furniture, refrigerator, washer and dryer are for sale. Schedule your appointment 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

Neighborhood: Mission Glen

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Mission Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8141677

* 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
Mission Glen Elementary School Primary Regular 493 39 4
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Mission Glen Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 39
4
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Bush High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 112
6
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$677
Property Tax -$402
Property Insurance -$113
HOA -$27
Property Management Fees -$99
CASH FLOW
$92

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.

$195,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.7%
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$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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$10,030

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,400

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4104$1,4955$1,550
$1,550
RENT COMPS ANALYSIS
  • 15547 Prairie Oaks Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,478 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.95
    •  
  • 8410 Grand Knolls Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1983
    property image
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 15514 Prairie Oaks Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1995
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 15314 Wildwood Lake Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1983
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 15242 Kingsbridge Way Houston, TX 5
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
PROPERTY LISTING DETAILS
Nhan Vu
1.713.679.3753
Kinh Do Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 38707652
Last Updated: 01/09/2021
BESbswy