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3226 Ashlock Drive Houston, TX 77082

4 Beds 4 Baths 2,858 sqft Built 1981

$240,000

List Price

$2,010

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $83.97
  • 4 Days on Market
  • MLS # : 72873009
  • Updated Date : 11/28/2020 at 16:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,858 sqft
  • Baths : 3 full , 1 half
Listing Agent

Solid Real Estate Services

Listing Agent's Description

Location, Location, Location!! Beautiful ready to move in, house located in the desirable Ashton Village neighborhood. This house features an open foyer, stunning winding staircase, stained wood beam ceilings, custom wood build in shelves, custom wood wall paneling in the family room, beautiful hardwood floors in the family room, and formal dining room. The primary bedroom is large enough for a sitting/office desk. Three spacious upstairs bedrooms with a huge game room/media room and wet bar. Granite countertops in the kitchen and ½ bathroom. Well-maintained and spacious backyard. Minutes from neighborhood pool, shopping centers, entertainment, and restaurants. Come see this home today!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Ashton Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300k320kPrice in $74k327k

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

Neighborhood: Ashton Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900Rent in $9101933

* 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
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$886
Property Tax -$506
Property Insurance -$220
HOA -$54
Property Management Fees -$99
CASH FLOW
$245

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.

$240,000

PROJECTED PRICE

$2,010

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$25,204

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,179

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,990
1$1,9902$2,0103$2,1004$2,1905$2,400
$2,400
RENT COMPS ANALYSIS
  • 3226 Ashlock Drive Houston, TX 2
    • 4 beds 4 baths ∙ 2,858 Sqft ∙ Built 1981 4 beds 4 baths ∙ 2,858 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.70
    •  
  • 3534 Shadowwalk Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1998
    property image
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.74
    •  
  • 12434 Hazyglen Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,688 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,688 Sqft ∙ Built 1995
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.78
    •  
  • 12419 Shadycrest Drive Houston, TX 4
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 1995
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.72
    •  
  • 3931 Shadow Trace Circle Houston, TX 5
    • 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,973 Sqft ∙ Built 1998
    property image
    LEASED 06/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lavonne Pitney
1.713.805.8871
Solid Real Estate Services
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 72873009
Last Updated: 11/28/2020
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