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1719 Rustic Park Drive Houston, TX 77339

4 Beds 3 Baths 2,267 sqft Built 1996

$249,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $109.84
  • 2 Days on Market
  • MLS # : 97527997
  • Updated Date : 12/12/2020 at 18:02
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,267 sqft
  • Baths : 2 full , 1 half
Listing Agent

Red Door Realty & Associates

Listing Agent's Description

NEVER FLOODED! Wonderful floorplan at front of Kingwood. 2 bedrooms down! NEW tile floor, Carpet and kitchen cabinets, Fresh paint throughout the house. Low tax rate and Kingwood school!

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: Kingwood Place Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Kingwood Place Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Foster Elementary School Primary Regular 598 34 6
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Foster Elementary School

  • Education Level: Primary
  • # of students: 598
  • # of teachers: 34
6
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$919
Property Tax -$525
Property Insurance -$180
HOA -$59
Property Management Fees -$99
CASH FLOW
$118

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.

$249,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 9.8%
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$200k$400k$600k$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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,538

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,870

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,8504$1,8755$1,900
$1,900
RENT COMPS ANALYSIS
  • 1719 Rustic Park Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,267 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.84
    •  
  • 1907 Westwood Lake Court Houston, TX 1
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 1998
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.79
    •  
  • 26907 Squires Park Drive Kingwood, TX 2
    • 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,217 Sqft ∙ Built 2007
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 2014 Lakeville Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,114 Sqft ∙ Built 1977
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 1602 Summer Rain Drive Kingwood, TX 4
    • 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,243 Sqft ∙ Built 1994
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jia Tao
1.832.247.1330
Red Door Realty & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 97527997
Last Updated: 12/12/2020
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