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3303 Cherrybark Oak Drive Houston, TX 77082

4 Beds 3 Baths 2,534 sqft Built 1998

$253,400

List Price

$1,820

$1.6K - $2K

Rent Est.

$72,901

Investment Est.

AVAILABLE

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1 Year
(+6.6%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.1%
Cash Flow	$612
Value Increase	$17,182

10 YEAR

Cash On Cash	-3.1%
Total Return	10.7%

PROPERTY INFO

SINGLE-FAMILY

July 13, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 1998
Price/Sqft : $100.00
2 Days on Market
MLS # : 50978381
Updated Date : 07/12/2021 at 22:00

CONSTRUCTION

Beds : 4
Floor Size : 2,534 sqft
Baths : 2 full , 1 half

Listing Agent

Jen Palmer Properties

Listing Agent's Description

2-story home in an established neighborhood conveniently located near Highway 6, Westpark Tollway, and I-10. High ceiling foyer opens to formal living and dining. Island kitchen with granite countertops adjacent to breakfast and family room. Spacious primary bedroom en suite includes a large tub, separate shower, double sinks, and a walk-in closet. 3 additional bedrooms, a bathroom, and a game room are also on the 2nd floor. Fully fenced backyard with a oversized covered patio ready for your enjoyment! If room sizes are important, please field verify.

1 of 25 X

MARKET HIGHLIGHTS

Houston Market Report

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)

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)

Neighborhood: Oak Park Ridge

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

Neighborhood: Oak Park Ridge

* 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
Holmquist Elementary School	Primary	Regular	1,198	77	4
Albright Middle School	Middle	Regular	1,267	87	6
Hastings High School	High	Regular	3,890	260	4

Holmquist Elementary School

Education Level: Primary
# of students: 1,198
# of teachers: 77

GreatSchools Rating

Albright Middle School

Education Level: Middle
# of students: 1,267
# of teachers: 87

GreatSchools Rating

Hastings High School

Education Level: High
# of students: 3,890
# of teachers: 260

GreatSchools Rating

FINANCIALS

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$228,060$278,74000$253,400

PURCHASE PRICE

$1,638$2,00200$1,820

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,820
EXPENSES	Loan Payment	-$880
	Property Tax	-$552
	Property Insurance	-$198
	HOA	-$40
	Property Management Fees	-$99



CASH FLOW $51

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.

$253,400

PROJECTED PRICE

$1,820

PROJECTED RENT

0.72%

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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$72,901

Down Payment	$63,350
Rehab Estimate	$5,750
Closing Costs	$3,801

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$880

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$63,350
Loan Amount	$190,050

See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$7,331

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,820
LIST RENT
$0.72
LIST RENT PER SQFT

$1,837
COMP ESTIMATED VALUE
$0.73
COMP AVG. RENT PER SQFT

Comps Range

$1,700

1$1,7002$1,7503$1,8204$1,8505$1,900

$1,900

RENT COMPS ANALYSIS

2,534
PROPERTY SQFT
$0.73
AVG RENT PER SQFT
$1,837
ESTIMATED VALUE
$1,820
LIST RENT

3303 Cherrybark Oak Drive Houston, TX 3

4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1998
Price

Price Per SQFT

$253,400

$100.00
3202 Diamond Star Drive Houston, TX 1

4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 2005
SOLD 03/25/21
Price

Price Per SQFT

$209,000

$85.83
15015 Middle Oaks Boulevard Houston, TX 2

3 beds 3 baths ∙ 2,445 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,445 Sqft ∙ Built 2002
SOLD 02/22/21
Price

Price Per SQFT

$237,000

$96.93
14907 Limber Oak Street Houston, TX 4

4 beds 2 baths ∙ 2,650 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,650 Sqft ∙ Built 1995
SOLD 05/19/21
Price

Price Per SQFT

$263,500

$99.43
15406 Palton Springs Drive Houston, TX 5

4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,429 Sqft ∙ Built 1995
SOLD 05/25/21
Price

Price Per SQFT

$280,000

$115.27

3303 Cherrybark Oak Drive Houston, TX 3

4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,534 Sqft ∙ Built 1998
Rent

Rent Per SQFT

$1,820

$0.72
15011 Changing Oak Ridge Court Houston, TX 1

4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,491 Sqft ∙ Built 2000
LEASED 06/11/21
Rent

Rent Per SQFT

$1,700

$0.68
15007 Sapling Oak Court Houston, TX 2

4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,412 Sqft ∙ Built 1999
LEASED 09/01/20
Rent

Rent Per SQFT

$1,750

$0.73
3210 Cherrybark Oak Drive Houston, TX 4

4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998
LEASED 08/15/20
Rent

Rent Per SQFT

$1,850

$0.72
15306 Gatesbury Drive Houston, TX 5

4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1995
LEASED 10/28/20
Rent

Rent Per SQFT

$1,900

$0.77

PROPERTY LISTING DETAILS

Tiffany Jen
1.713.498.1330
Jen Palmer Properties

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50978381
Last Updated: 07/12/2021

3303 Cherrybark Oak Drive Houston, TX 77082

$253,400

$1,820

$72,901

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Holmquist Elementary School

Albright Middle School

Hastings High School

FINANCIALS

$228,060$278,74000$253,400

$1,638$2,00200$1,820

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$253,400

$1,820

0.72%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$880

3.33

$7,331

$253,400

$100

$251,791

$99.37

COMPS RANGE

PRICE COMPS ANALYSIS

$1,820

$0.72

$1,837

$0.73

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS