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2207 Old Oak Lane Kingwood, TX 77339

3 Beds 2 Baths 1,539 sqft Built 1994

$179,999

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 20, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $116.96
  • 3 Days on Market
  • MLS # : 48499014
  • Updated Date : 11/20/2020 at 13:17
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,539 sqft
  • Baths : 2 full
Listing Agent

Re/max Preferred Homes

Listing Agent's Description

Nice Sized, One Story Home with 3 Bedrooms and 2 Bath. This Precious Home is Move In Ready. Features an Open Floor Plan with a Breakfast Bar and Wood Flooring in the Den. Right in the Heart of Kingwood. Perfect Starter or Retirement Home. Priced to Sell!

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: Sherwood Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k281k

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

Neighborhood: Sherwood Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9822061

* 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
 

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

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$664
Property Tax -$428
Property Insurance -$131
HOA -$42
Property Management Fees -$99
CASH FLOW
$206

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

$1,570

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.6%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$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 45% 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

7.25

YEARS SAVED

$18,882

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,566

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5704$1,5805$1,595
$1,595
RENT COMPS ANALYSIS
  • 2207 Old Oak Lane Kingwood, TX 3
    • 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,539 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.02
    •  
  • 2214 Old Oak Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1995
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.98
    •  
  • 2310 Meandering Trail Houston, TX 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1998
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 2311 Pine Cone Drive Drive Kingwood, TX 4
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1995
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.04
    •  
  • 2319 Old Oak Lane Humble, TX 5
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1994
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.05
    •  
PROPERTY LISTING DETAILS
Mike Schroeder
1.281.373.4300
Re/max Preferred Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 48499014
Last Updated: 11/20/2020
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