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2106 Willowlake Drive Houston, TX 77077

4 Beds 3 Baths 2,753 sqft Built 1981

$349,900

List Price

$2,530

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

December 23, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $127.10
  • 5 Days on Market
  • MLS # : 35207468
  • Updated Date : 12/26/2020 at 14:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,753 sqft
  • Baths : 3 full
Listing Agent

Texas Ally Real Estate Group,

Listing Agent's Description

Wonderful opportunity in the serene and manicured neighborhood of Shadowbriar and the Energy Corridor area. Modern finishes and updates found throughout. Serene and manicured neighborhood. Stainless Steel Appliances & Attention to Detail. Don't miss out on this wonderful opportunity!!

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
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,277$2,783$2,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,530
EXPENSES Loan Payment -$1,291
Property Tax -$738
Property Insurance -$213
HOA -$54
Property Management Fees -$99
CASH FLOW
$135

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.

$349,900

PROJECTED PRICE

$2,530

PROJECTED RENT

0.72%

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$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$16,437

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,530

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,911

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5303$2,8004$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 2106 Willowlake Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,753 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,530
    • $0.92
    •  
  • 1619 Crystal Hills Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 1972
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
  • 12122 Attlee Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1973 4 beds 3 baths ∙ 2,622 Sqft ∙ Built 1973
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.07
    •  
  • 2011 Ashgrove Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,848 Sqft ∙ Built 1981
    property image
    LEASED 07/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.09
    •  
  • 1923 Round Lake Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,744 Sqft ∙ Built 1981
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.17
    •  
PROPERTY LISTING DETAILS
Linda Henegar
1.832.584.4922
Texas Ally Real Estate Group,
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 35207468
Last Updated: 12/26/2020
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