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3906 Tulane Oak Drive Houston, TX 77018

3 Beds 3 Baths 1,706 sqft Built 2018

INVESTimate

$305,000

List Price

$2,290

$2,061 - $2,519

Rent Est.

$302,743  ( -0.74%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $178.78
  • 6 Days on Market
  • MLS # : 15430500
  • Updated Date : 08/25/2020 at 15:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,706 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realty One Group, Experience

Listing Agent's Description

Now is your chance to own one of the most sought after homes in the prestigious, gated community, of Tulane Park. "The Oak" is an open, inviting and modern floor-plan with 3 bedrooms and 2.5 bathrooms. This gorgeous 2 story home offers many bespoke features and upgrades such as hard wood flooring in all living areas, double height ceilings, fresh neutral paint, oversized windows, a gourmet chefs kitchen with custom cabinetry, quartz counter tops and so much more! The massive primary bedroom is attached to a tranquil ensuite featuring a large stand-alone soaking tub, walk in shower and dual underlaid sinks. This home has the perfect location being minutes from downtown Houston, and within walking distance to shopping, restaurants and nightlife. This community also offers a private park/dog park, a true must see! Be sure to check out the 3D virtual tour attached to this listing and call today for more information.

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: Independence Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $56k222k

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

Neighborhood: Independence Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7501677

* 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
John F Kennedy Elementary School Primary Regular 800 39 5
Williams Middle School Middle Magnet 533 33 2
Washington High School High Magnet 707 48 2

John F Kennedy Elementary School

  • Education Level: Primary
  • # of students: 800
  • # of teachers: 39
5
GreatSchools Rating

Williams Middle School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 33
2
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 707
  • # of teachers: 48
2
GreatSchools Rating
 

$274,500$335,500$305,000

PURCHASE PRICE

$2,061$2,519$2,290

RENT

DOWN PAYMENT
FINANCING

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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,290
EXPENSES Loan Payment -$1,125
Property Tax -$643
Property Insurance -$143
HOA -$188
Property Management Fees -$99
CASH FLOW
$93

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.

$305,000

PROJECTED PRICE

$2,290

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) -0.74%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$86,575

INVESTMENT

$86,575

Down Payment
$76,250
Rehab Estimate
$5,750
Closing Costs
$4,575

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,125

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $76,250
Loan Amount $228,750
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$13,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $1.34

    LIST RENT PER SQFT
  • $2,282

    COMP ESTIMATED VALUE
  • $1.34

    COMP AVG. RENT PER SQFT
Comps Range
$1,875
1$1,8752$2,1003$2,2004$2,2005$2,290
$2,290
RENT COMPS ANALYSIS
  • 3906 Tulane Oak Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,706 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.34
    •  
  • 708 E 40th Street Houston, TX 1
    • 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,592 Sqft ∙ Built 2013
    LEASED 07/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $1.18
    •  
  • 602 E 35th Street Houston, TX 2
    • 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,508 Sqft ∙ Built 2012
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.39
    •  
  • 4023 Tulane Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.39
    •  
  • 4027 Tulane Street Houston, TX 4
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.39
    •  
PROPERTY LISTING DETAILS
Luke Volz
1.936.235.1043
Realty One Group, Experience
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 15430500
Last Updated: 08/25/2020
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