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4222 Hermitage Hollow Lane Houston, TX 77339

3 Beds 2 Baths 1,512 sqft Built 1998

INVESTimate

$195,000

List Price

$1,590

$1,431 - $1,749

Rent Est.

$209,859  ( +7.62%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1998
  • Price/Sqft : $128.97
  • 9 Days on Market
  • MLS # : 58725428
  • Updated Date : 08/24/2020 at 12:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,512 sqft
  • Baths : 2 full
Listing Agent

Realty Associates

Listing Agent's Description

Fabulous find in Kingwood - unique home you would expect to be in downtown. Recent updates include polished travertine floors in kitchen, garbage disposal, stove, microwave, on demand hot water heater, vessel sinks and vanities in baths, showers redone, interior and exterior paint. Attic fan and storage built out above garage. Back yard features extensive decking and storage shed. Master bedroom has custom build out with led lights and bamboo flooring. Home theater system. Custom coach lighting. Outlets in attic for security cameras, dbl insulated garage door, push code gate lock, automatic attic fan, and custom door trim and recent baseboards. DID NOT FLOOD!

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sherwood Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280kPrice in $84k281k

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

Neighborhood: Sherwood Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9822061

* 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
Woodland Hills Elementary School Primary Regular 554 34 7
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Woodland Hills Elementary School

  • Education Level: Primary
  • # of students: 554
  • # of teachers: 34
7
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,431$1,749$1,590

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$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$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$719
Property Tax -$411
Property Insurance -$129
HOA -$38
Property Management Fees -$99
CASH FLOW
$193

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.

$195,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.62%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

6.83

YEARS SAVED

$19,102

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,580

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,549
1$1,5492$1,5503$1,5904$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 4222 Hermitage Hollow Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.05
    •  
  • 2315 Clear Ridge Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 1996
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $1.02
    •  
  • 2310 Meandering Trail Houston, TX 2
    • 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,544 Sqft ∙ Built 1998
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 4111 Hermitage Hollow Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1998
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.07
    •  
  • 4215 Hermitage Hollow Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,535 Sqft ∙ Built 1998
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.09
    •  
PROPERTY LISTING DETAILS
Sandi Nizzi
1.281.787.1717
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 58725428
Last Updated: 08/24/2020
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