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2723 Cedarville Drive Houston, TX 77345

4 Beds 3 Baths 2,860 sqft Built 1985

$310,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $108.71
  • 8 Days on Market
  • MLS # : 63181165
  • Updated Date : 02/25/2021 at 13:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,860 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

NO FLOODING. Beautiful Custom Home in the heart of Kingwood (in Sand Creek). This home features wood floors, crown molding, built ins, Plantation Shutters, large windows for a lot of natural lighting and a bonus room (downstairs). The kitchen has granite countertops, double ovens and an island. Primary bedroom is on first floor and other bedrooms upstairs. Wainscoting has been installed in several areas. Oversized lot with sprinkler system, mature trees and plenty of room to relax and play and also a covered patio. Long driveway and no front neighbors!! Near the Greenbelt Trails, parks nearby and access to the neighborhood pools. This home will not disappoint. Schedule your tour and make this your home!!

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: Sand Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k349k

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

Neighborhood: Sand Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10722553

* 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
Deerwood Elementary School Primary Regular 597 35 9
Riverwood Middle School Middle Regular 1,101 60 10
Kingwood High School High Regular 2,610 140 9

Deerwood Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 35
9
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,101
  • # of teachers: 60
10
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$279,810$341,990$310,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,080
Property Tax -$656
Property Insurance -$220
HOA -$28
Property Management Fees -$99
CASH FLOW
$157

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.

$310,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$88,139

INVESTMENT

$88,139

Down Payment
$77,725
Rehab Estimate
$5,750
Closing Costs
$4,664

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,080

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $77,725
Loan Amount $233,175
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$12,935

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,395

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,240
1$2,2402$2,4003$2,4004$2,5505$2,600
$2,600
RENT COMPS ANALYSIS
  • 2723 Cedarville Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,860 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.78
    •  
  • 5123 Mulberry Grove Drive Houston, TX 2
    • 4 beds 4 baths ∙ 2,926 Sqft ∙ Built 1984 4 beds 4 baths ∙ 2,926 Sqft ∙ Built 1984
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 5110 Sandy Grove Drive Kingwood, TX 3
    • 4 beds 4 baths ∙ 2,965 Sqft ∙ Built 1980 4 beds 4 baths ∙ 2,965 Sqft ∙ Built 1980
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
  • 5118 Timber Shade Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,966 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,966 Sqft ∙ Built 1980
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.86
    •  
  • 2410 Golden Pond Drive Kingwood, TX 5
    • 4 beds 4 baths ∙ 3,017 Sqft ∙ Built 1982 4 beds 4 baths ∙ 3,017 Sqft ∙ Built 1982
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.86
    •  
PROPERTY LISTING DETAILS
Suzanne Compian
1.713.419.4869
Berkshire Hathaway Homeservice
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 63181165
Last Updated: 02/25/2021
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