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3202 Holly Green Drive Houston, TX 77339

4 Beds 2 Baths 2,076 sqft Built 1980

$225,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $108.38
  • 3 Days on Market
  • MLS # : 50006728
  • Updated Date : 11/06/2020 at 23:01
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,076 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

CHARMING & UPDATED GEM IN ELMS GROVE! This REMODELED 1-story - 4 Bedroom home has been updated to the max! Recently replaced ROOF 2019, WATER HEATER 2018, A/C SYSTEM 2020, FRESHLY PAINTED, EXTERIOR DOORS, FENCE, KITCHEN WINDOW,  NEW COOKTOP 2020, and other appliances within last few years. Primary bathroom totally remodeled with porcelain tile work, large JETTED spa tub, his/her closets. Second full bathroom totally remodeled. All flooring replaced (no carpeting), ceiling fans, lighting and lush landscaping. Great flowing layout with a large family room with laminate wood flooring a center brick fireplace. Big eat-in kitchen & spacious breakfast nook overlooking the backyard, tons of beautiful cabinets and GRANITE counter tops & updated DESIGNER backsplash. All bedrooms are great size with walk in closets. Great Atrium in center of the house perfect for putting your favorite plants and or finish out with pavers to add exterior living space. Don't wait, call today for a private tour!

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: Westchase Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500k550k600kPrice in $74k632k

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

Neighborhood: Westchase Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9102529

* 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
Budewig Intermediate School Primary Regular 1,190 79 5
O'donnell Middle School Middle Regular 1,263 91 6
Hastings High School High Regular 3,890 260 4

Budewig Intermediate School

  • Education Level: Primary
  • # of students: 1,190
  • # of teachers: 79
5
GreatSchools Rating

O'donnell Middle School

  • Education Level: Middle
  • # of students: 1,263
  • # of teachers: 91
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$830
Property Tax -$722
Property Insurance -$168
HOA -$31
Property Management Fees -$99
CASH FLOW
$250

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.

$225,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.93%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 5.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$830

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$22,029

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $2,034

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$2,1004$2,1005$2,495
$2,495
RENT COMPS ANALYSIS
  • 3202 Holly Green Drive Houston, TX 4
    • 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,076 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.01
    •  
  • 9603 Meadowcroft Drive Houston, TX 1
    • 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 1960 4 beds 3 baths ∙ 1,969 Sqft ∙ Built 1960
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 10627 Wickersham Lane Houston, TX 2
    • 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 1964 3 beds 2 baths ∙ 2,111 Sqft ∙ Built 1964
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.92
    •  
  • 10011 Burgoyne Road Houston, TX 3
    • 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1968 3 beds 2 baths ∙ 2,090 Sqft ∙ Built 1968
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.00
    •  
  • 10315 Burgoyne Road Houston, TX 5
    • 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,248 Sqft ∙ Built 1983
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $1.11
    •  
PROPERTY LISTING DETAILS
Ramona Jaouani
1.281.222.6451
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50006728
Last Updated: 11/06/2020
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