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

15915 Smithland Drive Houston, TX 77084

3 Beds 3 Baths 1,869 sqft Built 2018

$218,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $116.64
  • 3 Days on Market
  • MLS # : 2818051
  • Updated Date : 11/06/2020 at 22:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,869 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Pride in home ownership shines in this like-new 3 Bedroom, 2.5 bath with loft and 2 car attached garage. The home features Shaw Luxury Vinyl plank flooring throughout the house, silestone countertops in the open kitchen with 36" Timberlake Cabinets with crown molding, and stainless steel appliances. The spacious Primary bedroom is located upstairs and features a walk-in closet, soaking tub and glass shower. Also located upstairs are the secondary bedrooms, loft and secondary bathroom that offers a combo tub and shower. The upstairs utility room makes for easy access. Enjoy evenings in the backyard under the covered patio. Easy access to HWY 290, restaurants and shopping. Zoned to CFISD and located

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 77084

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Zip Code: 77084

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8921677

* 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
Kahla Middle School Middle Regular 1,450 94 6
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

Kahla Middle School

  • Education Level: Middle
  • # of students: 1,450
  • # of teachers: 94
6
GreatSchools Rating

Langham Creek High School

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

$196,200$239,800$218,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$804
Property Tax -$506
Property Insurance -$154
HOA -$38
Property Management Fees -$99
CASH FLOW
$90

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.

$218,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.0%
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$63,520

INVESTMENT

$63,520

Down Payment
$54,500
Rehab Estimate
$5,750
Closing Costs
$3,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,500
Loan Amount $163,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$9,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6503$1,6904$1,7255$1,850
$1,850
RENT COMPS ANALYSIS
  • 15915 Smithland Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,869 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.90
    •  
  • 15851 Sunny Stone Houston, TX 1
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2017
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.89
    •  
  • 6715 Honey Harvest Lane Houston, TX 2
    • 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,841 Sqft ∙ Built 2016
    LEASED 01/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 15922 Smithland Dr Houston, TX 4
    • 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2018
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.95
    •  
  • 15839 Grey Boulder Drive North Houston, TX 5
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 2017
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.91
    •  
PROPERTY LISTING DETAILS
Rochelle Barrow
1.832.620.6644
Berkshire Hathaway Homeservice
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 2818051
Last Updated: 11/06/2020
BESbswy