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15806 Mesa Gardens Drive Houston, TX 77095

4 Beds 2 Baths 2,098 sqft Built 1981

$249,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $119.11
  • 6 Days on Market
  • MLS # : 62955020
  • Updated Date : 03/18/2021 at 10:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,098 sqft
  • Baths : 2 full
Listing Agent

Re/max Universal

Listing Agent's Description

Copperfield Southdown Village one story beauty! Charming front porch with mature trees add to the curb appeal of this home. Floor plan offers formal living room or home office, formal dining, big family room with vaulted ceilings, decorative beams and bricked fireplace hearth, breakfast room open to kitchen with white cabinets, farmhouse style sink, solid surface counters, stone backsplash, split bedroom plan with oversized primary bedroom and bathroom, secondary bedrooms all have walk in closets. Backyard has large patio with huge shade tree! Two car detached garage with long driveway for extra parking. Spacious backyard with sprinkler system. Copperfield is a master planned community with excellent Cy-Fair schools, parks, pool and a great variety of shopping and restaurants.

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: Copperfield Southdown Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k355k

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

Neighborhood: Copperfield Southdown Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692090

* 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
Lowery Elementary School Primary Regular 890 47 7
Aragon Middle School Middle Regular 1,548 84 9
Langham Creek High School High Regular 3,211 194 7

Lowery Elementary School

  • Education Level: Primary
  • # of students: 890
  • # of teachers: 47
7
GreatSchools Rating

Aragon Middle School

  • Education Level: Middle
  • # of students: 1,548
  • # of teachers: 84
9
GreatSchools Rating

Langham Creek High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 194
7
GreatSchools Rating
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$868
Property Tax -$527
Property Insurance -$169
HOA -$52
Property Management Fees -$99
CASH FLOW
$15

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.

$249,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.6%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$4,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7304$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 15806 Mesa Gardens Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.82
    •  
  • 7063 River Garden Drive Houston, TX 1
    • 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 1990 3 beds 3 baths ∙ 1,976 Sqft ∙ Built 1990
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 16314 Rainbow Lake Road Houston, TX 2
    • 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 1986 3 beds 2 baths ∙ 2,083 Sqft ∙ Built 1986
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.81
    •  
  • 7518 River Garden Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,211 Sqft ∙ Built 1983
    LEASED 11/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 7602 Sandygate Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 1987
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
Rick Raymor
1.281.235.7653
Re/max Universal
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62955020
Last Updated: 03/18/2021
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