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3362 Creek Grove Drive Houston, TX 77066

3 Beds 2 Baths 1,248 sqft Built 1981

INVESTimate

$149,900

List Price

$1,280

$1,152 - $1,408

Rent Est.

$160,513  ( +7.08%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $120.11
  • 3 Days on Market
  • MLS # : 58324644
  • Updated Date : 08/24/2020 at 15:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,248 sqft
  • Baths : 1 full , 1 half
Listing Agent

Mission Realty

Listing Agent's Description

appitmen required no lock box owner will open the door for you very nice peroson

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: Briarcreek of Aldine

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $59k222k

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

Neighborhood: Briarcreek of Aldine

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8841677

* 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
Conley Elementary School Primary Regular 872 50 5
Plummer Middle School Middle Regular 962 61 4
Davis Senior High School High Regular 2,542 149 2

Conley Elementary School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 50
5
GreatSchools Rating

Plummer Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 61
4
GreatSchools Rating

Davis Senior High School

  • Education Level: High
  • # of students: 2,542
  • # of teachers: 149
2
GreatSchools Rating
 

$134,910$164,890$149,900

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$553
Property Tax -$398
Property Insurance -$112
HOA -$32
Property Management Fees -$99
CASH FLOW
$86

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.

$149,900

PROJECTED PRICE

$1,280

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.08%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$8,757

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,170

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2803$1,2994$1,2995$1,300
$1,300
RENT COMPS ANALYSIS
  • 3362 Creek Grove Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,248 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.03
    •  
  • 3446 Edgecreek Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,254 Sqft ∙ Built 1982
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $1.00
    •  
  • 13811 Bearwood Road Houston, TX 3
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1979
    property image
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.91
    •  
  • 14118 Sandy Point Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1982
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.92
    •  
  • 2902 Broad Haven Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1982
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
PROPERTY LISTING DETAILS
Guadalupe Miranda
1.713.503.7269
Mission Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 58324644
Last Updated: 08/24/2020
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