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5723 Woodland Creek Drive Houston, TX 77345

4 Beds 3 Baths 2,385 sqft Built 1984

$258,000

List Price

$2,080

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $108.18
  • 3 Days on Market
  • MLS # : 35086639
  • Updated Date : 03/20/2021 at 15:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,385 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Here's your chance to get an updated Sand Creek home at an amazing price! This gem has a beautifully modern kitchen but with a touch of class and charm. The redesigned wet bar is a great segue from the kitchen's breakfast area to the bright, airy living room. Hardwood flooring in both the family room and the spacious dining room are adorned by the flooding of natural light from outside. The large owner's suite is enhanced with a dark accent wall and a bath area begging you to relax. Wood plank stairs lead to the 2nd floor that boasts a bonus room surrounded by 3 more bedrooms also with loads of natural sunlight. From the fixtures and appliances to the return air vents, no stone has been left unturned in this well-maintained home in a sought-after area of Kingwood. Even the detached garage is finished out and cooled by its own AC. Come take a peek during the open house Saturday, March 20 from 1-3:00 and you could be in your new home before summer!

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: Sand Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k349k

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

Neighborhood: Sand Creek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400Rent in $10722553

* 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
Deerwood Elementary School Primary Regular 597 35 9
Riverwood Middle School Middle Regular 1,101 60 10
Kingwood High School High Regular 2,610 140 9

Deerwood Elementary School

  • Education Level: Primary
  • # of students: 597
  • # of teachers: 35
9
GreatSchools Rating

Riverwood Middle School

  • Education Level: Middle
  • # of students: 1,101
  • # of teachers: 60
10
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$232,200$283,800$258,000

PURCHASE PRICE

$1,872$2,288$2,080

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,080
EXPENSES Loan Payment -$896
Property Tax -$544
Property Insurance -$188
HOA -$28
Property Management Fees -$99
CASH FLOW
$325

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.

$258,000

PROJECTED PRICE

$2,080

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.5%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$74,120

INVESTMENT

$74,120

Down Payment
$64,500
Rehab Estimate
$5,750
Closing Costs
$3,870

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$896

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,500
Loan Amount $193,500
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$26,540

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,080

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,075

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9503$2,0504$2,0805$2,500
$2,500
RENT COMPS ANALYSIS
  • 5723 Woodland Creek Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,080
    • $0.87
    •  
  • 5627 Rocky Brook Drive Houston, TX 1
    • 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,240 Sqft ∙ Built 1985
    property image
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 5319 Sycamore Creek Drive Kingwood, TX 2
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1983
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.80
    •  
  • 5118 Sandy Grove Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,219 Sqft ∙ Built 1979
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.92
    •  
  • 5622 Lone Cedar Drive Kingwood, TX 5
    • 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,545 Sqft ∙ Built 1984
    property image
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.98
    •  
PROPERTY LISTING DETAILS
Melessa Waterwall
1.918.344.5948
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 35086639
Last Updated: 03/20/2021
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