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6818 Vickie Springs Lane Houston, TX 77086

3 Beds 2 Baths 1,903 sqft Built 1983

$177,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $93.01
  • 6 Days on Market
  • MLS # : 3434285
  • Updated Date : 01/19/2021 at 15:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,903 sqft
  • Baths : 2 full
Listing Agent

Engel & Volkers Katy

Listing Agent's Description

Large livingroom with free standing fireplace. Large primary bedroom with walk-in closet. Primary bath has a jacuzzi tub and dual sinks. Breakfast area. Den. Nice size fenced backyard. A/C unit was replaced three years ago.

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: Northwest Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $67k222k

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

Neighborhood: Northwest Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8241677

* 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
Carmichael Elementary School Primary Regular 969 55 4
Shotwell Middle School Middle Magnet 1,060 73 4
Davis Senior High School High Regular 2,542 149 2

Carmichael Elementary School

  • Education Level: Primary
  • # of students: 969
  • # of teachers: 55
4
GreatSchools Rating

Shotwell Middle School

  • Education Level: Middle
  • # of students: 1,060
  • # of teachers: 73
4
GreatSchools Rating

Davis Senior High School

  • Education Level: High
  • # of students: 2,542
  • # of teachers: 149
2
GreatSchools Rating
 

$159,300$194,700$177,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$615
Property Tax -$414
Property Insurance -$156
HOA -$32
Property Management Fees -$99
CASH FLOW
$185

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.

$177,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.5%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,655

INVESTMENT

$52,655

Down Payment
$44,250
Rehab Estimate
$5,750
Closing Costs
$2,655

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$615

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,250
Loan Amount $132,750
See What Happens When You Reinvest Cash Flow

7.17

YEARS SAVED

$15,353

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,541

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5504$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 6818 Vickie Springs Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,903 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 6734 Dusty Dawn Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1976
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.76
    •  
  • 7403 Pebblemill Lane Houston, TX 3
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 1982
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 6546 Sutton Meadows Drive Houston, TX 4
    • 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,899 Sqft ∙ Built 1999
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.82
    •  
  • 10206 Trade Winds Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 1976
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jamie Elmore- Kelly
1.832.274.8221
Engel & Volkers Katy
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 3434285
Last Updated: 01/19/2021
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