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3723 Windy Haven Drive Houston, TX 77339

3 Beds 2 Baths 1,454 sqft Built 1981

$155,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $106.60
  • 3 Days on Market
  • MLS # : 72632985
  • Updated Date : 11/06/2020 at 09:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,454 sqft
  • Baths : 2 full
Listing Agent

Cb & A, Realtors

Listing Agent's Description

FANTASTIC OPPORTUNITY! PRECIOUS HOME READY FOR YOUR PERSONAL TOUCH! GREAT LAYOUT! 3 BEDROOM, 2 BATH, 2 CAR GARAGE THAT OFFERS DOOR TO SIDE YARD AS WELL AS CUSTOM SHELVES AND CABINETS! STORAGE BUILDING IN THE BACK YARD. HOME IS ON A CUL-DE-SAC STREET WITH ACCESS TO ONE OF THE MANY WALKING TRAILS KINGWOOD HAS TO OFFER! CLOSE TO PARKS, RESTAURANTS AND SHOPPING! COMMUTERS WILL LOVE THE EASY ACCESS TO HWY 59, 99 AND BELTWAY. LIVING ROOM OFFERS A VAULTED CEILING AND CORNER BRICK FIREPLACE. GREAT SIZE BEDROOMS! SECONDARY BEDROOMS HAVE WINDOW SEATS FOR EXTRA CHARM! NICE SIZE EAT IN KITCHEN WITH PICTURE WINDOW LOOKING OUT TO THE BACKYARD! UTILITY ROOM INSIDE THE HOME. HURRY, COME CHECK THIS ONE OUT!

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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: Hunters Ridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Hunters Ridge Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Bear Branch Elementary School Primary Regular 625 36 9
Creekwood Middle School Middle Regular 1,094 62 9
Kingwood High School High Regular 2,610 140 9

Bear Branch Elementary School

  • Education Level: Primary
  • # of students: 625
  • # of teachers: 36
9
GreatSchools Rating

Creekwood Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 62
9
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$572
Property Tax -$327
Property Insurance -$125
HOA -$27
Property Management Fees -$99
CASH FLOW
$290

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.

$155,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.93%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

10.58

YEARS SAVED

$28,441

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,432

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4404$1,6005$1,605
$1,605
RENT COMPS ANALYSIS
  • 3723 Windy Haven Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,454 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.99
    •  
  • 3767 Glade Forest Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1980
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 2926 Park Garden Drive Kingwood, TX 2
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 1982
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 2903 Valley Rose Drive Kingwood, TX 4
    • 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,612 Sqft ∙ Built 1982
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.99
    •  
  • 3114 Timberlark Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 1980
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,605
    • $0.99
    •  
PROPERTY LISTING DETAILS
Shawn Saxton
1.281.507.0859
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 #: 72632985
Last Updated: 11/06/2020
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