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2602 Sherwood Hollow Lane Houston, TX 77339

3 Beds 2 Baths 1,535 sqft Built 1993

$199,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1993
  • Price/Sqft : $130.23
  • 5 Days on Market
  • MLS # : 45507246
  • Updated Date : 11/02/2020 at 16:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,535 sqft
  • Baths : 2 full
Listing Agent

Texas Ally Real Estate Group,

Listing Agent's Description

Gorgeous home in the Serene and Cozy neighborhood of Sherwood Oaks. You can ease in and out through this neighborhood and build wonderful memories here in this Posh home with your family and friends. New Paint, flooring, carpets, lighting fixtures, stainless steel appliances (stove, microwave, refrigerator, dishwasher), new sod in front and back yard as well. Hurry, this hidden jewel will not last long!

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
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
 

$179,910$219,890$199,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$738
Property Tax -$422
Property Insurance -$131
HOA -$38
Property Management Fees -$99
CASH FLOW
$113

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.

$199,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.77%

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$700k

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$58,724

INVESTMENT

$58,724

Down Payment
$49,975
Rehab Estimate
$5,750
Closing Costs
$2,999

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,975
Loan Amount $149,925
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,531

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5304$1,5405$1,550
$1,550
RENT COMPS ANALYSIS
  • 2602 Sherwood Hollow Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $1.00
    •  
  • 2522 Sherwood Hollow Lane Kingwood, TX 1
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1993
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.99
    •  
  • 2427 Meandering Trail Houston, TX 2
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 1993
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 2514 Clear Ridge Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1992
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $1.00
    •  
  • 2423 Clear Ridge Drive Kingwood, TX 5
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1991
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
PROPERTY LISTING DETAILS
Linda Henegar
1.832.584.4922
Texas Ally Real Estate Group,
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 45507246
Last Updated: 11/02/2020
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