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

2706 Donellan Drive Houston, TX 77088

4 Beds 2 Baths 1,558 sqft Built 2013

$180,000

List Price

$1,560

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $115.53
  • 4 Days on Market
  • MLS # : 4612247
  • Updated Date : 01/28/2021 at 19:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,558 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Welcome home, a charming 2013 Lennar home in the Mount Royal Village subdivision. The home has a great floor plan with 4 bedrooms, 2 baths and an inviting open living/kitchen! Tile throughout the main living areas and fresh paint throughout! This home is close to many local shopping and restaurants. Easy access to 249 which can lead you to 45 or the Beltway in a matter of minutes. Home has NEVER flooded. Call to schedule an appointment today.

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

Zip Code: 77088

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $69k222k

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

Zip Code: 77088

ZipNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7951677

* 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
Carmichael Elementary School Primary Regular 969 55 4
Shotwell Middle School Middle Magnet 1,060 73 4
Eisenhower Ninth Grade School High Magnet 671 45 2

Carmichael Elementary School

  • Education Level: Primary
  • # of students: 969
  • # of teachers: 55
4
GreatSchools Rating

Shotwell Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 73
4
GreatSchools Rating

Eisenhower Ninth Grade School

  • Education Level: High
  • # of students: 671
  • # of teachers: 45
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,404$1,716$1,560

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,560
EXPENSES Loan Payment -$625
Property Tax -$435
Property Insurance -$133
HOA -$33
Property Management Fees -$99
CASH FLOW
$236

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.

$180,000

PROJECTED PRICE

$1,560

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.4%
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

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 40% 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

8.5

YEARS SAVED

$20,330

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,560

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,523

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,5004$1,5305$1,560
$1,560
RENT COMPS ANALYSIS
  • 2706 Donellan Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.00
    •  
  • 2674 Royal Blue Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,375 Sqft ∙ Built 2006
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 2734 Trementina Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 2008
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 11423 Lovington Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,503 Sqft ∙ Built 2012
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 2767 Morgensen Drive Houston, TX 4
    • 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,558 Sqft ∙ Built 2011
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.98
    •  
PROPERTY LISTING DETAILS
Laura Miranda
1.281.509.3604
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 4612247
Last Updated: 01/28/2021
BESbswy