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4506 Dogwood Ridge Lane Houston, TX 77345

3 Beds 3 Baths 2,144 sqft Built 1990

INVESTimate

$230,000

List Price

$1,710

$1,539 - $1,881

Rent Est.

$245,571  ( +6.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 19, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $107.28
  • 8 Days on Market
  • MLS # : 76140887
  • Updated Date : 08/19/2020 at 12:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,144 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tonia Mcconnell

Listing Agent's Description

Beautiful home for your family! Backyard getaway! Relax on the large back patio & watch the kids enjoy the huge swing set! Beautiful landscaping front & back. Inside; marble tile in front entry, wood floors in kitchen/breakfast area/utility room. Bedrooms have plenty of closet space! Crown molding in living room/dining/master bedroom. Master bath w/whirlpool tub/separate shower.

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: Mills Branch Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Mills Branch 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
Hidden Hollow Elementary School Primary Regular 521 35 7
Creekwood Middle School Middle Regular 1,094 62 9
Kingwood High School High Regular 2,610 140 9

Hidden Hollow Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 35
7
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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,539$1,881$1,710

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$849
Property Tax -$485
Property Insurance -$172
HOA -$38
Property Management Fees -$99
CASH FLOW
$68

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.

$230,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.77%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,878

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,731

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7103$1,7254$1,8255$1,900
$1,900
RENT COMPS ANALYSIS
  • 4506 Dogwood Ridge Lane Houston, TX 2
    • 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,144 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.80
    •  
  • 3810 Babbling Creek Drive Houston, TX 1
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1989
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 4027 Pecan Knoll Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,256 Sqft ∙ Built 1978
    property image
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.76
    •  
  • 4542 Windy Hollow Drive Kingwood, TX 4
    • 3 beds 3 baths ∙ 2,286 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,286 Sqft ∙ Built 1990
    property image
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.80
    •  
  • 4523 Dogwood Ridge Lane Houston, TX 5
    • 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,317 Sqft ∙ Built 1990
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
PROPERTY LISTING DETAILS
Taynisha Moore
1.281.726.1491
Tonia Mcconnell
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76140887
Last Updated: 08/19/2020
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