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15919 Hickory Cove Drive Houston, TX 77095

4 Beds 3 Baths 2,631 sqft Built 1990

$279,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $106.04
  • 14 Days on Market
  • MLS # : 25031850
  • Updated Date : 07/13/2021 at 10:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,631 sqft
  • Baths : 2 full , 1 half
Listing Agent

Htx Living, Llc

Listing Agent's Description

BEAUTIFUL house built by Village Builders. This adorable home on a corner lot is in a prime location backing up to the local park and is just a 7-minute walk away from the elementary. This ideal layout includes a flex-room/game room upstairs, separate french-door study, formal living & dining spaces, gourmet kitchen w/breakfast nook & a spacious master bedroom downstairs. Per the seller, some 2020 upgrades include the HVAC system, flagstone patio & an iron fence for added safety. Don't miss this opportunity in Copperfield!

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: Copperfield Southcreek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $99k329k

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

Neighborhood: Copperfield Southcreek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$969
Property Tax -$588
Property Insurance -$205
HOA -$53
Property Management Fees -$99
CASH FLOW
$85

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.

$279,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,614

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,105

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$2,0003$2,0004$2,1005$2,150
$2,150
RENT COMPS ANALYSIS
  • 15919 Hickory Cove Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,631 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 7630 Evergreen Brook Way Houston, TX 1
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1987
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
  • 16042 Pinyon Creek Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,514 Sqft ∙ Built 1985
    LEASED 05/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 16010 Rainbow Lake Road Houston, TX 4
    • 3 beds 2 baths ∙ 2,582 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,582 Sqft ∙ Built 1988
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 16310 Rainbow Lake Road Houston, TX 5
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1987
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jessica Mccreary
1.713.408.3185
Htx Living, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25031850
Last Updated: 07/13/2021
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