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4214 Davis Oak Drive Spring, TX 77386

4 Beds 4 Baths 2,798 sqft Built 2020

INVESTimate

$417,990

List Price

$2,660

$2,410 - $2,910

Rent Est.

$436,716  ( +4.48%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $149.39
  • 7 Days on Market
  • MLS # : 39069605
  • Updated Date : 08/24/2020 at 09:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,798 sqft
  • Baths : 3 full , 1 half
Listing Agent

M/i Homes

Listing Agent's Description

Enter into the spacious foyer to find a bright study with 10’ ceilings immediately off the entry. The foyer ushers you past a stately spiral staircase and a powder bath. Tucked in a private hallway at the end of the foyer is your spacious owner's suite. The bright bedroom comes complete with tall tray ceilings and an abundance of natural light and an extended bow window. Enter your spa-inspired owner's bath retreat. Enjoy double vanities, a deluxe frameless shower, as well as an oversized walk-in closet. The family will love to gather by the recessed linear corner fireplace. The kitchen also boasts impressive included features such as white quartz countertops, stainless steel appliances, level 4 mosaic 1x2 herringbone tile backsplash, and white cabinets. Impressive openness and an oversized game room welcomes you to the second floor. A Jack-and-Jill bathroom connects two spacious bedrooms, while a separate hallway takes you to a third full bath and bedroom. Contact us today!

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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

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10132063

* 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
Cox Intermediate School Primary Regular 1,093 60 9
Cox Intermediate School Middle Regular 1,093 60 9
Oak Ridge High School High Regular 3,637 202 8

Cox Intermediate School

  • Education Level: Primary
  • # of students: 1,093
  • # of teachers: 60
9
GreatSchools Rating

Cox Intermediate School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 60
9
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$376,191$459,789$417,990

PURCHASE PRICE

$2,394$2,926$2,660

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

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$200k$400k$600k$800k$1.0M

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,660
EXPENSES Loan Payment -$1,542
Property Tax -$758
Property Insurance -$189
HOA -$104
Property Management Fees -$99
CASH FLOW
-$32

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$417,990

PROJECTED PRICE

$2,660

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.48%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$112,767

INVESTMENT

$112,767

Down Payment
$104,498
Rehab Estimate
$2,000
Closing Costs
$6,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,542

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $104,498
Loan Amount $313,493
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$8,011

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,660

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $2,651

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,5003$2,5004$2,6605$3,000
$3,000
RENT COMPS ANALYSIS
  • 4214 Davis Oak Drive Spring, TX 4
    • 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,798 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,660
    • $0.95
    •  
  • 27931 Hendrix Park Drive Spring, TX 1
    • 4 beds 4 baths ∙ 2,477 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,477 Sqft ∙ Built 2015
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 26142 White Sage Cove Lane Spring, TX 2
    • 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,759 Sqft ∙ Built 2013
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.91
    •  
  • 27111 White Sage Cove Ln Lane Spring, TX 3
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 2010
    property image
    LEASED 05/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
  • 4337 Victoria Pine Drive Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,963 Sqft ∙ Built 2018
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Ronnie Matthews
1.281.205.2400
M/i Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39069605
Last Updated: 08/24/2020
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