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1939 Lake Hills Drive Houston, TX 77339

4 Beds 3 Baths 2,573 sqft Built 1981

$265,000

List Price

$2,330

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $102.99
  • 6 Days on Market
  • MLS # : 66939327
  • Updated Date : 11/03/2020 at 01:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,573 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southern Homes

Listing Agent's Description

Gorgeous Victorian near the front of Kingwood with easy access to 59. Hardwoods, granite in kitchen, island w/cooktop, super-high ceiling in den that overlooks the pool! Covered front patio, three bedrooms up and two are plus-sized! Three car garage with three car driveway! NEVER FLOODED!!!

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: Shadowbriar

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $99k408k

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

Neighborhood: Shadowbriar

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9692389

* 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
Shadowbriar Elementary School Primary Regular 399 28 4
West Briar Middle School Middle Regular 1,051 62 7
Westside High School High Magnet 2,748 146 7

Shadowbriar Elementary School

  • Education Level: Primary
  • # of students: 399
  • # of teachers: 28
4
GreatSchools Rating

West Briar Middle School

  • Education Level: Middle
  • # of students: 1,051
  • # of teachers: 62
7
GreatSchools Rating

Westside High School

  • Education Level: High
  • # of students: 2,748
  • # of teachers: 146
7
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$2,097$2,563$2,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,330
EXPENSES Loan Payment -$978
Property Tax -$616
Property Insurance -$201
HOA -$38
Property Management Fees -$99
CASH FLOW
$399

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.

$265,000

PROJECTED PRICE

$2,330

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.8%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$0.0$5.0k$10k$15k$20k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$40,039

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,330

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,329

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2503$2,3004$2,3305$2,400
$2,400
RENT COMPS ANALYSIS
  • 1939 Lake Hills Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,573 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,330
    • $0.91
    •  
  • 12330 Wedgehill Lane Houston, TX 1
    • 4 beds 2 baths ∙ 2,385 Sqft ∙ Built 1968 4 beds 2 baths ∙ 2,385 Sqft ∙ Built 1968
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.88
    •  
  • 12239 Rocky Knoll Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,549 Sqft ∙ Built 1981
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 12102 Nova Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1973
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.96
    •  
  • 1619 Crystal Hills Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 1972
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
PROPERTY LISTING DETAILS
W David Beutel
1.281.201.6887
Southern Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 66939327
Last Updated: 11/03/2020
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