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2514 Old Oak Lane Kingwood, TX 77339

3 Beds 2 Baths 1,535 sqft Built 1991

$180,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $117.26
  • 3 Days on Market
  • MLS # : 45708669
  • Updated Date : 02/05/2021 at 17:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,535 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Delightful one story in Sherwood Trails! This 3 bedroom, 2 full bath home has a roof that is only 7 years old, 2018 windows installed and interior paint. HVAC updated in 2009 and carpet 2010. Backyard has a wood deck with plenty of room for entertaining. Enjoy the greenbelt and various parks. Call your agent today!

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
Elm Grove Elementary School Primary Regular 488 35 6
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Elm Grove Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 35
6
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
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$625
Property Tax -$428
Property Insurance -$131
HOA -$38
Property Management Fees -$99
CASH FLOW
$209

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.

$180,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.85%

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.

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$16,188

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,5254$1,5305$1,580
$1,580
RENT COMPS ANALYSIS
  • 2514 Old Oak Lane Kingwood, TX 4
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $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 2
    • 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 3
    • 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
Bobbie Callahan
1.713.303.7332
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 45708669
Last Updated: 02/05/2021
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