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3423 Benfield Drive Houston, TX 77082

3 Beds 2 Baths 1,591 sqft Built 1981

$188,500

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $118.48
  • 6 Days on Market
  • MLS # : 27665272
  • Updated Date : 01/19/2021 at 16:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,591 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Newly installed siding, fresh neutral paint and tidy landscaping will catch your eye as you approach this attractive and well cared for home! Step inside to find a light and bright interior with vaulted ceilings and a functional split floor plan with open concept living spaces! All bedrooms boast walk-in closets! Two outdoor spaces to enjoy, playset is negotiable.

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: Westpark Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k223k

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

Neighborhood: Westpark Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8851677

* 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
 

$169,650$207,350$188,500

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$655
Property Tax -$397
Property Insurance -$135
HOA -$31
Property Management Fees -$99
CASH FLOW
$63

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.

$188,500

PROJECTED PRICE

$1,380

PROJECTED RENT

0.73%

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

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$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,703

INVESTMENT

$55,703

Down Payment
$47,125
Rehab Estimate
$5,750
Closing Costs
$2,828

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$655

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,125
Loan Amount $141,375
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$7,410

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,372

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4253$1,4454$1,4505$1,549
$1,549
RENT COMPS ANALYSIS
  • 3423 Benfield Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,591 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.87
    •  
  • 3506 Meadway Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1982
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.89
    •  
  • 12902 Village Gate Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,760 Sqft ∙ Built 1978
    property image
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.82
    •  
  • 12712 Sunset Dune Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1978
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.85
    •  
  • 3425 Benfield Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 1981
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.89
    •  
PROPERTY LISTING DETAILS
C. Kay Arnold
1.281.723.0648
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 27665272
Last Updated: 01/19/2021
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