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18206 Widcombe Drive Houston, TX 77084

4 Beds 3 Baths 2,488 sqft Built 1981

$240,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $96.46
  • 2 Days on Market
  • MLS # : 18048788
  • Updated Date : 12/05/2020 at 01:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,488 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Premier Realty

Listing Agent's Description

Welcome to this lovely 4 bedroom, 2 1/2 bath home on a gorgeous cul-de-sac in the heart of Deerfield Village! This home's floor plan has a great flow to it. The entry has soaring ceilings and is open to the formal dining & study. The dining room leads to the updated kitchen that includes a breakfast bar and stainless appliances. The large family room has a brick fireplace and wet bar. The master bedroom is expansive and overlooks the large back yard which is shaded by beautiful trees. The master bath has double sinks, an updated walk-in shower and two closets. There is a half-bath conveniently located near the stairs leading to the second floor. Upstairs are 3 additional bedrooms and a full bath with double vessel sinks. Outside you'll find the covered patio, detached garage and a back-up whole-house generator. The location of this home is outstanding. It is just a few blocks over to Barker Cypress and minutes to I-10 and the Energy Corridor. Low taxes and great schools! NEVER FLOODED!

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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: Deerfield Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Deerfield 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
Wilson Elementary School Primary Regular 861 53 7
Watkins Middle School Middle Regular 1,305 78 5
Cypress Lakes High School High Regular 3,599 210 5

Wilson Elementary School

  • Education Level: Primary
  • # of students: 861
  • # of teachers: 53
7
GreatSchools Rating

Watkins Middle School

  • Education Level: Middle
  • # of students: 1,305
  • # of teachers: 78
5
GreatSchools Rating

Cypress Lakes High School

  • Education Level: High
  • # of students: 3,599
  • # of teachers: 210
5
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$886
Property Tax -$480
Property Insurance -$195
HOA -$57
Property Management Fees -$99
CASH FLOW
$113

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.

$240,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$11,146

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,798

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,6003$1,6504$1,8305$1,950
$1,950
RENT COMPS ANALYSIS
  • 18206 Widcombe Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.74
    •  
  • 18091 Forest Cedars Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,138 Sqft ∙ Built 1981
    property image
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.69
    •  
  • 3547 Shadow Trail Houston, TX 2
    • 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1997 3 beds 2 baths ∙ 2,194 Sqft ∙ Built 1997
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 18154 Garden Manor Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,366 Sqft ∙ Built 1990
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.70
    •  
  • 18318 Oak Hampton Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,548 Sqft ∙ Built 1986
    property image
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.77
    •  
PROPERTY LISTING DETAILS
Rachel Clark
1.512.775.4345
Keller Williams Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 18048788
Last Updated: 12/05/2020
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