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2534 Willow Drive Stafford, TX 77477

4 Beds 2 Baths 2,032 sqft Built 1984

$230,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $113.19
  • 3 Days on Market
  • MLS # : 12820108
  • Updated Date : 01/29/2021 at 20:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,032 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

This immaculately kept 4/2/2 home is in the heart of the sought after, well established Kingsway Subdivision with all the benefits. Double ovens, one gas and one electric with a gas cook top. Room upfront has bifold doors and is being used as a study. Large family room with built-ins Walk-in TUB, Therapeutic Jets & deep tissue Massage. Semi handicap access. Low taxes/No MUD tax + convenient location + Extra long driveway to park many cars + Oversized garage + Recently updated gated patio + Fruit trees and nicely landscaped.

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: Kingsway

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Kingsway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Stafford Elementary School Primary Regular 710 42 4
Stafford Middle School Middle Regular 506 34 6
Stafford High School High Regular 1,001 68 3

Stafford Elementary School

  • Education Level: Primary
  • # of students: 710
  • # of teachers: 42
4
GreatSchools Rating

Stafford Middle School

  • Education Level: Middle
  • # of students: 506
  • # of teachers: 34
6
GreatSchools Rating

Stafford High School

  • Education Level: High
  • # of students: 1,001
  • # of teachers: 68
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$799
Property Tax -$403
Property Insurance -$144
HOA -$29
Property Management Fees -$99
CASH FLOW
$146

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$230,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$15,592

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,621

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6004$1,6205$1,700
$1,700
RENT COMPS ANALYSIS
  • 2534 Willow Drive Stafford, TX 4
    • 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 1984 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.80
    •  
  • 238 Kings Way Stafford, TX 1
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 1982
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.76
    •  
  • 2510 Carriage Lane Stafford, TX 2
    • 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,951 Sqft ∙ Built 1998
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 2526 Knights Circle Stafford, TX 3
    • 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1983
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 2419 Gallant Fox Drive Stafford, TX 5
    • 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,101 Sqft ∙ Built 1992
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
PROPERTY LISTING DETAILS
Pam Kelley
1.281.686.2832
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 12820108
Last Updated: 01/29/2021
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