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1718 Foxlake Drive Houston, TX 77084

3 Beds 2 Baths 1,772 sqft Built 1984

$189,900

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $107.17
  • 3 Days on Market
  • MLS # : 64720900
  • Updated Date : 11/13/2020 at 21:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,772 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Homes

Listing Agent's Description

Welcome home to this gorgeous 1 story home that has plenty to to offer. Updates include a New Roof, New interior paint, New carpet, New granite countertops with under-mount sink and new backsplash in the kitchen, AC replaced in 2019, and updated ceiling fans. This wonderful home also offers 3 bedrooms and a study that could easily be used as a 4th bedroom, The oversized family room offers wood laminate flooring, The family room, dining room, and kitchen are all open concept which is great for entertaining. You will enjoy getting a good night's sleep in the large master bedroom and just wait until you see the huge master bath and the large walk-in closet.

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

Neighborhood: Westlake Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Westlake Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8731677

* 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
Mayde Creek Elementary School Primary Regular 767 55 5
Mayde Creek Junior High School Middle Regular 1,141 84 8
Mayde Creek High School High Regular 2,755 158 7

Mayde Creek Elementary School

  • Education Level: Primary
  • # of students: 767
  • # of teachers: 55
5
GreatSchools Rating

Mayde Creek Junior High School

  • Education Level: Middle
  • # of students: 1,141
  • # of teachers: 84
8
GreatSchools Rating

Mayde Creek High School

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

$170,910$208,890$189,900

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$701
Property Tax -$432
Property Insurance -$147
HOA -$33
Property Management Fees -$99
CASH FLOW
$68

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.

$189,900

PROJECTED PRICE

$1,480

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.3%
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

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$8,969

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,524

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4804$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 1718 Foxlake Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,772 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.84
    •  
  • 19731 Lake Hollow Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1984
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.83
    •  
  • 19515 Lake Hollow Ln Houston, TX 2
    • 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,618 Sqft ∙ Built 1983
    property image
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 19743 Coppervine Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,753 Sqft ∙ Built 1980
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.86
    •  
  • 19322 Lake Hollow Lane Houston, TX 5
    • 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,818 Sqft ∙ Built 1983
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.85
    •  
PROPERTY LISTING DETAILS
David Jordan
1.832.878.7844
Re/max Preferred Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64720900
Last Updated: 11/13/2020
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