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3711 Woodlace Drive Humble, TX 77396

3 Beds 2 Baths 1,665 sqft Built 1995

$179,500

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $107.81
  • 4 Days on Market
  • MLS # : 9403750
  • Updated Date : 11/05/2020 at 15:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,665 sqft
  • Baths : 2 full
Listing Agent

Lake Houston Realty

Listing Agent's Description

Lovely three bedroom home in charming neighborhood. Open floor plan is spacious and comfortable. Huge living room with fireplace and high ceiling is open to dining area and kitchen. Breakfast bar, pantry and recent appliances are just a few of the nice features to be found in this home. Large 2 car attached garage and great back yard space. Complete a/c system in 2019. Roof appx 9 years old. Conveniently located to Bush Airport and approximately 25 minutes to downtown Houston. You can be in your new home for the Holidays! Call for your private showing 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: Atascocita Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k255k

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

Neighborhood: Atascocita Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $9981714

* 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
Whispering Pines Elementary School Primary Regular 749 51 3
Humble Middle School Middle Regular 1,113 75 4
Humble High School High Regular 1,615 112 3

Whispering Pines Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 51
3
GreatSchools Rating

Humble Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 75
4
GreatSchools Rating

Humble High School

  • Education Level: High
  • # of students: 1,615
  • # of teachers: 112
3
GreatSchools Rating
 

$161,550$197,450$179,500

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$662
Property Tax -$457
Property Insurance -$140
HOA -$29
Property Management Fees -$99
CASH FLOW
$83

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$179,500

PROJECTED PRICE

$1,470

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$53,318

INVESTMENT

$53,318

Down Payment
$44,875
Rehab Estimate
$5,750
Closing Costs
$2,693

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$662

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,875
Loan Amount $134,625
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$7,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,494

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4703$1,5104$1,5995$1,650
$1,650
RENT COMPS ANALYSIS
  • 3711 Woodlace Drive Humble, TX 2
    • 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,665 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.88
    •  
  • 16815 Shrub Oak Drive Humble, TX 1
    • 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,652 Sqft ∙ Built 1982
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.85
    •  
  • 16406 Pear Ridge Place Humble, TX 3
    • 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1995 4 beds 2 baths ∙ 1,735 Sqft ∙ Built 1995
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.87
    •  
  • 3643 Beckett Ridge Drive Humble, TX 4
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 1983
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.96
    •  
  • 3710 Beckett Ridge Drive Humble, TX 5
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1983
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Melanie Foreman
1.713.269.5724
Lake Houston Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 9403750
Last Updated: 11/05/2020
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