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2110 Kelona Drive Spring, TX 77386

3 Beds 2 Baths 1,522 sqft Built 1991

$179,999

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1991
  • Price/Sqft : $118.26
  • 8 Days on Market
  • MLS # : 31680315
  • Updated Date : 11/07/2020 at 15:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,522 sqft
  • Baths : 2 full
Listing Agent

Re/max Integrity

Listing Agent's Description

OPEN HOUSE Canceled on 11/8/20. Wow! An early Christmas gift, the sellers are feeling generous and have reduced this dollhouse for your holiday entertaining. This updated light and bright 3/2/2 is move in ready for a quick close. Recent updates include brushed nickel ceiling fans, carpet, laminate floors, dishwasher, interior/exterior paint, both bathrooms refinished and new fixtures in bathrooms and kitchen, replaced light sockets, switch plates, recent AC, recent patio door, ducts cleaned 2018, washer, dryer, refrigerator stay, sprinkler system, new towel rods, door knobs, smoke/carbon monoxide detectors and a large yard, great neighborhood close to everything. This home will not last! Call for a private showing 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
 

$161,999$197,999$179,999

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$664
Property Tax -$400
Property Insurance -$115
HOA -$42
Property Management Fees -$99
CASH FLOW
$121

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.

$179,999

PROJECTED PRICE

$1,440

PROJECTED RENT

0.80%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $134,999
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$11,045

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,461

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4823$1,5404$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2110 Kelona Drive Spring, TX 1
    • 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,522 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.95
    •  
  • 1934 Creston Drive Spring, TX 2
    • 4 beds 3 baths ∙ 1,621 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,621 Sqft ∙ Built 1984
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,482
    • $0.91
    •  
  • 2106 Whitelaw Drive Spring, TX 3
    • 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,567 Sqft ∙ Built 1982
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.98
    •  
  • 2102 Wickburn Drive Spring, TX 4
    • 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
    •  
  • 2006 Woodhue Drive Spring, TX 5
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1982
    LEASED 12/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dawn Bajalieh
1.832.878.7040
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31680315
Last Updated: 11/07/2020
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