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15711 Fox Springs Drive Houston, TX 77084

3 Beds 2 Baths 1,802 sqft Built 1980

$214,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $119.26
  • 2 Days on Market
  • MLS # : 35450361
  • Updated Date : 07/12/2021 at 22:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,802 sqft
  • Baths : 2 full
Listing Agent

Graham & Company Realty Group

Listing Agent's Description

Great home in Bear Creek Village-this home is a single story, 3 bedroom, 2 bath with 2 car attached garage. Nice entry leading into an open floor concept. Kitchen has plenty of cabinet and counter space with breakfast bar, and is open to the den, which offers great brick fireplace and lots of windows. Bedrooms are spacious. Great covered patio in the back. Come see today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Bear Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $97k222k

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

Neighborhood: Bear Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8841677

* 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
Bear Creek Elementary School Primary Regular 751 58 4
Cardiff Junior High School Middle Regular 963 78 6
Mayde Creek High School High Regular 2,755 158 7

Bear Creek Elementary School

  • Education Level: Primary
  • # of students: 751
  • # of teachers: 58
4
GreatSchools Rating

Cardiff Junior High School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 78
6
GreatSchools Rating

Mayde Creek High School

  • Education Level: High
  • # of students: 2,755
  • # of teachers: 158
7
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$746
Property Tax -$436
Property Insurance -$149
HOA -$38
Property Management Fees -$99
CASH FLOW
$72

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.

$214,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.72%

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-$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$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$7,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5403$1,5504$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 15711 Fox Springs Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.85
    •  
  • 15747 Boulder Oaks Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,831 Sqft ∙ Built 1976
    property image
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 15646 Pagehurst Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,749 Sqft ∙ Built 1979
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 15635 Fox Springs Drive Houston, TX 4
    • 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,921 Sqft ∙ Built 1980
    property image
    LEASED 06/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 15631 Pagehurst Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,811 Sqft ∙ Built 1980
    property image
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
PROPERTY LISTING DETAILS
Michael Weaster
1.713.875.8558
Graham & Company Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 35450361
Last Updated: 07/12/2021
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