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3227 Ashton Park Drive Houston, TX 77082

4 Beds 4 Baths 2,879 sqft Built 1980

$250,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $86.84
  • 2 Days on Market
  • MLS # : 12507884
  • Updated Date : 02/06/2021 at 23:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,879 sqft
  • Baths : 3 full , 1 half
Listing Agent

Hovis Properties

Listing Agent's Description

Move-in ready, stylish home with great curb appeal in Ashford Village neighborhood. Great LOCATION, nestled in a quiet, well established neighborhood close to restaurants and shopping and to Westpark Tollway. Enter the home into an inviting foyer with new tiled floors and tall ceilings and a winding staircase. Living room is attractive with cathedral ceiling, brick fireplace and bricks laid in herringbone pattern all the way to the ceiling. Formal Dining Room is great for entertaining, family meals or for turning into an office with a view. The home has 4 bedrooms and 3 baths and a half bath near the entrance of the home. Master bedroom downstairs. Upstairs game room is great for hanging out with family. Plenty of light and storage all through the home. Come and see this charmer and take in all the details. This house is ready to be called home, your home.

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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
Heflin Elementary School Primary Regular 816 58 4
O'donnell Middle School Middle Regular 1,263 91 6
Hastings High School High Regular 3,890 260 4

Heflin Elementary School

  • Education Level: Primary
  • # of students: 816
  • # of teachers: 58
4
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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$868
Property Tax -$527
Property Insurance -$222
HOA -$54
Property Management Fees -$99
CASH FLOW
$230

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.

$250,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.80%

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$900k

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$20,078

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,109

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9903$2,0004$2,1905$2,200
$2,200
RENT COMPS ANALYSIS
  • 3227 Ashton Park Drive Houston, TX 3
    • 4 beds 4 baths ∙ 2,879 Sqft ∙ Built 1980 4 beds 4 baths ∙ 2,879 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.69
    •  
  • 3306 Ashlock Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 1982
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.66
    •  
  • 3534 Shadowwalk Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,704 Sqft ∙ Built 1998
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.74
    •  
  • 12419 Shadycrest Drive Houston, TX 4
    • 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 1995 4 beds 4 baths ∙ 3,045 Sqft ∙ Built 1995
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.72
    •  
  • 12419 Burgoyne Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,700 Sqft ∙ Built 1981
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Caroline Marthand
1.832.721.7409
Hovis Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 12507884
Last Updated: 02/06/2021
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