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2302 Friarwood Trail Houston, TX 77339

3 Beds 2 Baths 1,504 sqft Built 1994

$187,900

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $124.93
  • 7 Days on Market
  • MLS # : 56609870
  • Updated Date : 11/25/2020 at 13:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 2 full
Listing Agent

Jla Realty

Listing Agent's Description

High ceilings, beautiful laminate wood floors, and custom cabinetry with beautiful granite counter tops are just some of the features you will find in this home. Kitchen features custom cabinets, granite counter tops, and drawers for pots/pans. Master bath features double sinks with a granite counter top, garden tub and separate shower. The layout is a split floor plan so the secondary bedrooms are located on the other side of the home with their own bathroom. No carpet- laminate wood and tile only! Enjoy mornings, evenings and weekends on the oversized deck! NO FLOODING.

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
 

$169,110$206,690$187,900

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$693
Property Tax -$409
Property Insurance -$129
HOA -$30
Property Management Fees -$99
CASH FLOW
$140

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.

$187,900

PROJECTED PRICE

$1,500

PROJECTED RENT

0.80%

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-$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$55,544

INVESTMENT

$55,544

Down Payment
$46,975
Rehab Estimate
$5,750
Closing Costs
$2,819

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$693

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,975
Loan Amount $140,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,985

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,493

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5254$1,5255$1,580
$1,580
RENT COMPS ANALYSIS
  • 2302 Friarwood Trail Houston, TX 2
    • 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,504 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 2610 Old Oak Lane Kingwood, TX 1
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 2607 Pine Cone Drive Kingwood, TX 3
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.99
    •  
  • 2319 Sherwood Hollow Lane Kingwood, TX 4
    • 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,530 Sqft ∙ Built 1999
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.00
    •  
  • 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
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $1.04
    •  
PROPERTY LISTING DETAILS
Megan Latour
1.281.435.3356
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56609870
Last Updated: 11/25/2020
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