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2811 Cedarville Drive Houston, TX 77345

4 Beds 3 Baths 2,858 sqft Built 1985

INVESTimate

$319,000

List Price

$2,350

$2,115 - $2,585

Rent Est.

$333,451  ( +4.53%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
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.

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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
 

$287,100$350,900$319,000

PURCHASE PRICE

$2,115$2,585$2,350

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

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

ASSUMPTIONS

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

TOTAL OUT OFPOCKET$90,285

INVESTMENT

$90,285

Down Payment
$79,750
Rehab Estimate
$5,750
Closing Costs
$4,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,177

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,750
Loan Amount $239,250
See What Happens When You Reinvest Cash Flow

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
$2,300
1$2,3002$2,3503$2,4004$2,4005$2,550
$2,550
RENT COMPS ANALYSIS
  • 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
Chris Charboneau
1.713.256.6581
Hunter 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 #: 61848675
Last Updated: 08/25/2020
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