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2003 Sekola Lane Spring, TX 77386

4 Beds 2 Baths 1,748 sqft Built 1995

$220,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $125.86
  • 3 Days on Market
  • MLS # : 92800225
  • Updated Date : 11/02/2020 at 21:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,748 sqft
  • Baths : 2 full
Listing Agent

Walzel Properties

Listing Agent's Description

RARE FIND ONE-STORY FOUR BEDROOM** ON SPACIOUS CORNER LOT IN IMPERIAL OAKS! Wood Laminate and tile flooring, spacious kitchen with plenty of cabinet space, under cabinet lighting and gas cooking range/oven and breakfast area. Plenty of space in the family room, wired with surround sound. Fourth bedroom can be used as an office. Master bedroom has dual walk in closets! Large secondary bedrooms. Paver patio + handy storage building + sprinkler system! Energy efficient solar screens! Do not miss this one! Make an appointment today!

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: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Imperial Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9732063

* 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
Kaufman Elementary School Primary Regular 864 51 10
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Kaufman Elementary School

  • Education Level: Primary
  • # of students: 864
  • # of teachers: 51
10
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$812
Property Tax -$488
Property Insurance -$128
HOA -$42
Property Management Fees -$99
CASH FLOW
$91

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.

$220,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$812

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$9,514

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,652

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,5993$1,6004$1,6455$1,660
$1,660
RENT COMPS ANALYSIS
  • 2003 Sekola Lane Spring, TX 5
    • 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,748 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.95
    •  
  • 2015 Pincher Creek Drive Spring, TX 1
    • 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1982
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.93
    •  
  • 30215 Glenboro Drive Spring, TX 2
    • 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,758 Sqft ∙ Built 1995
    LEASED 11/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.91
    •  
  • 2102 Wickburn Drive Spring, TX 3
    • 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1982
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.96
    •  
  • 2118 Rycroft Drive Spring, TX 4
    • 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,674 Sqft ∙ Built 1981
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.98
    •  
PROPERTY LISTING DETAILS
Holly Grajales
1.713.412.8412
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 92800225
Last Updated: 11/02/2020
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