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18702 Shannon Glen Lane Houston, TX 77084

3 Beds 2 Baths 1,502 sqft Built 1989

$164,900

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $109.79
  • 6 Days on Market
  • MLS # : 63375230
  • Updated Date : 11/11/2020 at 18:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,502 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

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: Rolling Green

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Rolling Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8241677

* 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
Schmalz Elementary School Primary Regular 1,163 85 6
Cardiff Junior High School Middle Regular 963 78 6
Mayde Creek High School High Regular 2,755 158 7

Schmalz Elementary School

  • Education Level: Primary
  • # of students: 1,163
  • # of teachers: 85
6
GreatSchools Rating

Cardiff Junior High School

  • Education Level: Middle
  • # of students: 963
  • # of teachers: 78
6
GreatSchools Rating

Mayde Creek High School

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

$148,410$181,390$164,900

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$608
Property Tax -$397
Property Insurance -$129
HOA -$35
Property Management Fees -$99
CASH FLOW
$102

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.

$164,900

PROJECTED PRICE

$1,370

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,449

INVESTMENT

$49,449

Down Payment
$41,225
Rehab Estimate
$5,750
Closing Costs
$2,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$608

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,225
Loan Amount $123,675
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$10,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,453

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3503$1,3504$1,3705$1,425
$1,425
RENT COMPS ANALYSIS
  • 18702 Shannon Glen Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.91
    •  
  • 18735 Shannon Glen Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 1983
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.98
    •  
  • 18715 Glen Briar Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,428 Sqft ∙ Built 1979
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 18706 Clover Glen Lane Houston, TX 3
    • 3 beds 4 baths ∙ 1,410 Sqft ∙ Built 1983 3 beds 4 baths ∙ 1,410 Sqft ∙ Built 1983
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 18711 Highland Trail Houston, TX 5
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 1989
    property image
    LEASED 09/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.98
    •  
PROPERTY LISTING DETAILS
Jennifer Ciulla
1.281.819.0212
Re/max Fine Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 63375230
Last Updated: 11/11/2020
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