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5401 Kingston Cove Court Willis, TX 77318

3 Beds 3 Baths 2,663 sqft Built 1984

$260,000

List Price

$2,420

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $97.63
  • 6 Days on Market
  • MLS # : 11304158
  • Updated Date : 10/29/2020 at 16:27
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,663 sqft
  • Baths : 2 full , 1 half
Listing Agent

Hom

Listing Agent's Description

One of a kind home in Seven Coves. Enjoy Lake views and life in the peaceful town of Willis. Home will need some work but has tons of potential. Split level floor plan, lots of natural light... the home literally feels like it was made for a rockstar! This one will go fast.

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: Seven Coves

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $97k250k

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

Neighborhood: Seven Coves

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8171794

* 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
W. Lloyd Meador Elementary School Primary Regular 771 43 7
Robert P. Brabham Middle School Middle Regular 791 43 5
Willis High School High Regular 1,944 117 4

W. Lloyd Meador Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 43
7
GreatSchools Rating

Robert P. Brabham Middle School

  • Education Level: Middle
  • # of students: 791
  • # of teachers: 43
5
GreatSchools Rating

Willis High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 117
4
GreatSchools Rating
 

$234,000$286,000$260,000

PURCHASE PRICE

$2,178$2,662$2,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,420
EXPENSES Loan Payment -$959
Property Tax -$560
Property Insurance -$181
HOA -$35
Property Management Fees -$99
CASH FLOW
$586

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.

$260,000

PROJECTED PRICE

$2,420

PROJECTED RENT

0.93%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$959

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

12.67

YEARS SAVED

$61,649

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,420

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $3,315

    COMP ESTIMATED VALUE
  • $1.25

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4203$4,150
$4,150
RENT COMPS ANALYSIS
  • 5401 Kingston Cove Court Willis, TX 2
    • 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,663 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $2,420
    • $0.91
    •  
  • 12915 Blueberry Hill Willis, TX 1
    • 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1980
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.90
    •  
  • 3810 Walden Estates Drive Montgomery, TX 3
    • 3 beds 2 baths ∙ 2,602 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,602 Sqft ∙ Built 1994
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $4,150
    • $1.59
    •  
PROPERTY LISTING DETAILS
Nikolas Mitchell
1.936.217.7587
Hom
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 11304158
Last Updated: 10/29/2020
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