Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2118 Wilderness Point Drive Houston, TX 77339

3 Beds 3 Baths 2,615 sqft Built 1981

$205,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $78.39
  • 15 Days on Market
  • MLS # : 51320178
  • Updated Date : 11/19/2020 at 08:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,615 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

BEAUTIFUL TWO STORY HOME IN WOODLAND HILLS. Has great curb appeal and welcoming landscaping. Traditional style layout great for entertaining. This home has large second and third bedrooms and a balconcy off the master. With a little tlc this is a GEM!!!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Woodland Hills

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Woodland Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Woodland Hills Elementary School Primary Regular 554 34 7
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Woodland Hills Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 34
7
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$756
Property Tax -$501
Property Insurance -$204
HOA -$50
Property Management Fees -$99
CASH FLOW
$100

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.

$205,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.2%
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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$7,765

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,7103$1,7504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 2118 Wilderness Point Drive Houston, TX 2
    • 3 beds 3 baths ∙ 2,615 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,615 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.65
    •  
  • 2083 Shadow Rock Drive Kingwood, TX 1
    • 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,558 Sqft ∙ Built 1976
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.64
    •  
  • 2058 Shadow Rock Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,620 Sqft ∙ Built 1970
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.67
    •  
  • 3323 Lost Hollow Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,632 Sqft ∙ Built 1981
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.72
    •  
  • 2206 Willow Point Drive Houston, TX 5
    • 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1974 4 beds 4 baths ∙ 2,728 Sqft ∙ Built 1974
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
PROPERTY LISTING DETAILS
Steven Little
1.832.651.4062
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 51320178
Last Updated: 11/19/2020
BESbswy