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511 Oakdale Drive Stafford, TX 77477

3 Beds 2 Baths 1,432 sqft Built 1981

$195,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $136.17
  • 2 Days on Market
  • MLS # : 97374186
  • Updated Date : 11/14/2020 at 09:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,432 sqft
  • Baths : 2 full
Listing Agent

Stride Real Estate, Llc

Listing Agent's Description

Charming one story home with 3 bedrooms and 2 baths located in Dove Country. This home offers an open concept floor plan with high vaulted ceilings and lots of natural light! Granite counter tops in the kitchen and bathrooms. Tile throughout the home. You will love the privacy of having no back neighbors! Come for a showing today before this home is gone!

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: Dove Country

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $69k225k

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

Neighborhood: Dove Country

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9071677

* 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
Armstrong Elementary School Primary Regular 645 46 5
Missouri City Middle School Middle Regular 1,116 79 3
Marshall High School High Regular 1,242 93 2

Armstrong Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 46
5
GreatSchools Rating

Missouri City Middle School

  • Education Level: Middle
  • # of students: 1,116
  • # of teachers: 79
3
GreatSchools Rating

Marshall High School

  • Education Level: High
  • # of students: 1,242
  • # of teachers: 93
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$719
Property Tax -$342
Property Insurance -$110
HOA -$17
Property Management Fees -$99
CASH FLOW
$124

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.

$195,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

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-$2.0k$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

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 50% 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

6.25

YEARS SAVED

$16,297

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,411

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4103$1,4504$1,4955$1,499
$1,499
RENT COMPS ANALYSIS
  • 511 Oakdale Drive Stafford, TX 2
    • 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,432 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.98
    •  
  • 2727 Dove Country Drive Stafford, TX 1
    • 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,404 Sqft ∙ Built 1982
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.00
    •  
  • 2707 Oakdale Court Stafford, TX 3
    • 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,542 Sqft ∙ Built 1981
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.94
    •  
  • 662 Fair Oak Drive Stafford, TX 4
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1980
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.00
    •  
  • 2623 Willow Drive Stafford, TX 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1981
    property image
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.00
    •  
PROPERTY LISTING DETAILS
Jobin Johnson
1.832.391.5000
Stride Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 97374186
Last Updated: 11/14/2020
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