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3523 Derril Lane Houston, TX 77082

3 Beds 3 Baths 1,785 sqft Built 2016

$225,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $126.05
  • 6 Days on Market
  • MLS # : 81421760
  • Updated Date : 02/27/2021 at 09:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,785 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cb&a, Realtors

Listing Agent's Description

No showings on Saturday 2/27/2021. Open house will be on Sunday 2/28/2021. Awesome, open concept floorplan! Kitchen is open to dining and living room. Master bedroom with en-suite bath on the first floor. Two secondary bedrooms upstairs with a shared bathroom. A cute reading nook upstairs would be an awesome distance learning area when needed. House had no leaks during the freeze event this year. Washer/Dryer, and Refrigerator are included! What a steal. Check it out today!

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: Oak Park Ridge

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k264k

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

Neighborhood: Oak Park Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9101735

* 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
4
GreatSchools Rating

Albright Middle School

  • Education Level: Middle
  • # of students: 1,267
  • # of teachers: 87
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$782
Property Tax -$490
Property Insurance -$148
HOA -$28
Property Management Fees -$99
CASH FLOW
$104

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.

$225,000

PROJECTED PRICE

$1,650

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$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$10,876

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,580

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5503$1,6504$1,6655$1,665
$1,665
RENT COMPS ANALYSIS
  • 3523 Derril Lane Houston, TX 3
    • 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 15010 Palace Oaks Court Houston, TX 1
    • 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 2003
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 3526 Derril Lane Houston, TX 2
    • 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,902 Sqft ∙ Built 2007
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 3223 Gold Star Drive Houston, TX 4
    • 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 2014
    LEASED 04/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.90
    •  
  • 3210 Jade Star Drive Houston, TX 5
    • 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 2014 4 beds 3 baths ∙ 1,858 Sqft ∙ Built 2014
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,665
    • $0.90
    •  
PROPERTY LISTING DETAILS
Cassidy Chau
1.832.686.1673
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 81421760
Last Updated: 02/27/2021
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