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2811 Cedarville Drive 
Houston, TX
77345
4 Beds 3 Baths 2,858 sqft
Built 1985
INVESTimate
$319,000
List Price
$90,285
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PROPERTY INFO
FACTS
- Built In 1985
- Price/Sqft : $111.62
- 2 Days on Market
- MLS # : 61848675
- Updated Date : 08/25/2020 at 18:52
CONSTRUCTION
- Beds : 4
- Floor Size : 2,858 sqft
- Baths : 2 full , 1 half
Listing Agent
Hunter Real Estate Group
Listing Agent's Description
Beautifully updated 4 bedroom Sand Creek home on large lot. Floor plan offers master down and flex room off the kitchen that could be used as a study or game room for the kids. Features new vinyl plank flooring & carpet, fresh paint, numerous built-ins, new lighting & plumbing fixtures, new electrical panel & water heater, custom industrial stair rail, fireplace, remodeled powder bath w/ granite vanity & secondary bedrooms all w/ walk-in closets & built-in desk. Remodeled island kitchen w/ quartz countertops, stone subway tile backsplash, under cabinet lighting, walk-in pantry, oil rubbed bronze fixtures/hardware, pendant lighting, crown molding, built-in wine rack, new stainless steel microwave & oven (just installed - not in the photos) & breakfast area w/ new fixture & view of the backyard. Spacious master suite w/ door leading to patio, fresh paint, crown molding, wall of windows overlooking the backyard, double vanity, skylight & oversized shower w/ bench seat & 2 shower heads.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sand Creek Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,350 |
| EXPENSES | Loan Payment | -$1,177 |
| Property Tax | -$673 | |
| Property Insurance | -$220 | |
| HOA | -$36 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$145
|
||
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.
$319,000
PROJECTED PRICE
$2,350
PROJECTED RENT
0.74%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 4.53% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$90,285
LOAN DETAILS
$1,177
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $79,750 |
| Loan Amount | $239,250 |
4.25
YEARS SAVED
$15,043
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,350
LIST RENT -
$0.82
LIST RENT PER SQFT
-
$2,365
COMP ESTIMATED VALUE -
$0.83
COMP AVG. RENT PER SQFT
Comps Range
-
2811 Cedarville Drive Houston, TX 2
- 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,858 Sqft ∙ Built 1985
- Rent
- Rent Per SQFT
- $2,350
- $0.82
-
5715 Rocky Brook Drive Houston, TX 1
- 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 1986 4 beds 4 baths ∙ 2,819 Sqft ∙ Built 1986
LEASED 12/04/19- Rent
- Rent Per SQFT
- $2,300
- $0.82
-
5123 Mulberry Grove Drive Houston, TX 3
- 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 4
- 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 5
- 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
PROPERTY LISTING DETAILS
1.713.256.6581
Hunter Real Estate Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 61848675
Last Updated: 08/25/2020
