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

2211 Old Oak Lane Houston, TX 77339

3 Beds 2 Baths 1,480 sqft Built 1994

INVESTimate

$185,000

List Price

$1,470

$1,323 - $1,617

Rent Est.

$199,097  ( +7.62%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1994
  • Price/Sqft : $125.00
  • 6 Days on Market
  • MLS # : 31699910
  • Updated Date : 08/25/2020 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,480 sqft
  • Baths : 2 full
Listing Agent

Jla Realty

Listing Agent's Description

The perfect place to call home! Updated one story with granite counter tops, custom cabinets, wood floors (no carpet!), fresh paint throughout and stainless steel appliances. All appliances stay with the home. Huge laundry room and spacious den! Enjoy your large covered patio with family and friends!

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: 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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$683
Property Tax -$400
Property Insurance -$127
HOA -$30
Property Management Fees -$99
CASH FLOW
$131

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.

$185,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.62%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,462

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4503$1,4704$1,5255$1,580
$1,580
RENT COMPS ANALYSIS
  • 2211 Old Oak Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,480 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.99
    •  
  • 2742 Foliage Green Drive Kingwood, TX 1
    • 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,381 Sqft ∙ Built 1980
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 2610 Old Oak Lane Kingwood, TX 2
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 2607 Pine Cone Drive Kingwood, TX 4
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.99
    •  
  • 2311 Pine Cone Drive Drive Kingwood, TX 5
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1995
    property image
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.04
    •  
PROPERTY LISTING DETAILS
Ashley Huron
1.832.276.8030
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31699910
Last Updated: 08/25/2020
BESbswy