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6615 Honey Harvest Lane Houston, TX 77084

3 Beds 3 Baths 1,954 sqft Built 2016

$220,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

$64,050

Investment Est.

AVAILABLE

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1 Year
(+7.0%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.4%
Cash Flow	$1,332
Value Increase	$15,735

10 YEAR

Cash On Cash	-2.4%
Total Return	11.3%

PROPERTY INFO

January 14, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2016
Price/Sqft : $112.59
4 Days on Market
MLS # : 65707274
Updated Date : 01/14/2021 at 15:52

CONSTRUCTION

Beds : 3
Floor Size : 1,954 sqft
Baths : 2 full , 1 half

Listing Agent

Lv Realty & Services

Listing Agent's Description

Location!Location!Location! Come and See this Beautiful 3bed/2.5bath home located in the highly sought area of Sommerall Park subdiv. Great Floorplan with Master suites down w/walk in closet, good room size of 2 Bedrooms and Gameroom up, Gas range, Covered patio, Master bath with dual sinks, tub and shower. Dual sink on 2nd bathroom. Walking distance to the park trail. Close to shopping, banks, restaurant and Minutes to FM529, Hw6, and 290. This won't last long!!

6615 Honey Harvest Ln

Houston, Texas

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MARKET HIGHLIGHTS

Houston Market Report

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)
Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

Zip Code: 77084

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

Zip Code: 77084

* 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
Holmsley Elementary School	Primary	Regular	884	52	5
Kahla Middle School	Middle	Regular	1,450	94	6
Langham Creek High School	High	Regular	3,211	194	7

Holmsley Elementary School

Education Level: Primary
# of students: 884
# of teachers: 52

GreatSchools Rating

Kahla Middle School

Education Level: Middle
# of students: 1,450
# of teachers: 94

GreatSchools Rating

Langham Creek High School

Education Level: High
# of students: 3,211
# of teachers: 194

GreatSchools Rating

FINANCIALS

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$198,000$242,00000$220,000

PURCHASE PRICE

$1,521$1,85900$1,690

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,690
EXPENSES	Loan Payment	-$764
	Property Tax	-$511
	Property Insurance	-$159
	HOA	-$46
	Property Management Fees	-$99



CASH FLOW $111

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.

$220,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.94%
Appreciation Year (1-5)	7.0%
Maintenance Year (1-5)	8.00%
Vacancy	8.80%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$64,050

Down Payment	$55,000
Rehab Estimate	$5,750
Closing Costs	$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$55,000
Loan Amount	$165,000

See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$8,944

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,690
LIST RENT
$0.86
LIST RENT PER SQFT

$1,720
COMP ESTIMATED VALUE
$0.88
COMP AVG. RENT PER SQFT

Comps Range

$1,690

1$1,6902$1,7003$1,7004$1,7255$1,850

$1,850

RENT COMPS ANALYSIS

1,954
PROPERTY SQFT
$0.88
AVG RENT PER SQFT
$1,720
ESTIMATED VALUE
$1,690
LIST RENT

6615 Honey Harvest Lane Houston, TX 5

3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2016
Price

Price Per SQFT

$220,000

$112.59
17011 Lolly Lane Houston, TX 1

3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,863 Sqft ∙ Built 2002
SOLD 01/20/20
Price

Price Per SQFT

$185,000

$99.30
5630 Afton Ridge Lane Houston, TX 2

3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,920 Sqft ∙ Built 2004
SOLD 05/08/20
Price

Price Per SQFT

$191,000

$99.48
15207 Weeping Cedar Lane Houston, TX 3

3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 2002
SOLD 08/28/20
Price

Price Per SQFT

$205,000

$92.76
15107 Weeping Cedar Lane Houston, TX 4

3 beds 3 baths ∙ 2,228 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,228 Sqft ∙ Built 2003
SOLD 12/17/20
Price

Price Per SQFT

$210,000

$94.25

6615 Honey Harvest Lane Houston, TX 1

3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,954 Sqft ∙ Built 2016
Rent

Rent Per SQFT

$1,690

$0.86
15919 Smithland Drive Houston, TX 2

4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,096 Sqft ∙ Built 2018
LEASED 05/15/20
Rent

Rent Per SQFT

$1,700

$0.81
6635 Sharpstone Creek Lane Houston, TX 3

4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2016 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2016
LEASED 01/27/20
Rent

Rent Per SQFT

$1,700

$0.87
15922 Smithland Dr Houston, TX 4

3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,824 Sqft ∙ Built 2018
LEASED 07/13/20
Rent

Rent Per SQFT

$1,725

$0.95
15906 Smithland Drive Houston, TX 5

3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,088 Sqft ∙ Built 2018
LEASED 10/09/20
Rent

Rent Per SQFT

$1,850

$0.89

PROPERTY LISTING DETAILS

Lily Loh
1.281.467.8367
Lv Realty & Services

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 65707274
Last Updated: 01/14/2021

6615 Honey Harvest Lane Houston, TX 77084

$220,000

$1,690

$64,050

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Holmsley Elementary School

Kahla Middle School

Langham Creek High School

FINANCIALS

$198,000$242,00000$220,000

$1,521$1,85900$1,690

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$220,000

$1,690

0.77%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$764

4.33

$8,944

$220,000

$112.59

$188,458

$96.45

COMPS RANGE

PRICE COMPS ANALYSIS

$1,690

$0.86

$1,720

$0.88

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS