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18314 Shireoak Drive Houston, TX 77084

4 Beds 3 Baths 2,749 sqft Built 1983

$285,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $103.67
  • 5 Days on Market
  • MLS # : 59154305
  • Updated Date : 03/12/2021 at 14:53
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,749 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Updated gem in coveted Deerfield Village! Functional and inviting floorplan offering 4 bedrooms, 2.5 baths and 2 living areas, including upstairs loft. Recent roof, brand new windows, new fixtures/fans, and fresh paint throughout. Situated on a cul-de-sac lot, the backyard offers a sizable patio and plenty of privacy. Abundant natural light provided by generous windows throughout. With neighborhood amenities, Cy-Fair schools and a low tax rate, this is a highly sought-after location.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$990
Property Tax -$570
Property Insurance -$213
HOA -$56
Property Management Fees -$99
CASH FLOW
$23

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.

$285,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.68%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,986

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,924

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6753$1,7904$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 18314 Shireoak Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 19139 Colony Grove Lane Katy, TX 1
    • 3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2002
    property image
    LEASED 02/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 18307 Oakhampton Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1983
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.68
    •  
  • 4802 Magnolia Creek Road Houston, TX 3
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2001
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.74
    •  
  • 5418 Forest Trails Drive Houston, TX 5
    • 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,873 Sqft ∙ Built 1983
    property image
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
PROPERTY LISTING DETAILS
Kathryn Faught
1.713.248.7004
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 59154305
Last Updated: 03/12/2021
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