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7811 Allegro Drive Houston, TX 77040

4 Beds 3 Baths 2,898 sqft Built 1994

$310,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $106.97
  • 3 Days on Market
  • MLS # : 72118060
  • Updated Date : 11/27/2020 at 08:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,898 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Platinum

Listing Agent's Description

This incredible home in the quiet community of Woodwind Lakes is exactly what you’ve been searching for. Backed up to the park, this 4-bedroom, 3-bathroom property boasts tile flooring, wainscoting, a brick fireplace, dining room, game room, and family room with wall paneling. Dream up culinary masterpieces in the amazing island kitchen, equipped with a tile backsplash, pendant lighting, and a breakfast bar. Melt away the stress in the spa-like primary suite, complete with a walk-in closet, dual vanities, a tub, and separate shower. The spacious backyard with a patio and mature trees is perfect for entertaining and leisure. Community comforts include a pool, parks, lakes, trails, and more! Located near Beltway 8 and U.S. 290, residents enjoy easy access to Cypress, Washington Avenue, and Memorial City. Students attend the prestigious Cook Middle School in Cy-Fair ISD. This is a home you don’t want to miss – call today!

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: Woodwind Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $99k372k

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

Neighborhood: Woodwind Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9692191

* 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
Gleason Elementary School Primary Regular 1,007 55 6
Cook Middle School Middle Regular 1,581 93 7
Jersey Village High School High Regular 3,461 204 6

Gleason Elementary School

  • Education Level: Primary
  • # of students: 1,007
  • # of teachers: 55
6
GreatSchools Rating

Cook Middle School

  • Education Level: Middle
  • # of students: 1,581
  • # of teachers: 93
7
GreatSchools Rating

Jersey Village High School

  • Education Level: High
  • # of students: 3,461
  • # of teachers: 204
6
GreatSchools Rating
 

$279,000$341,000$310,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,144
Property Tax -$735
Property Insurance -$223
Property Management Fees -$99
CASH FLOW
$279

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.

$310,000

PROJECTED PRICE

$2,480

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.7%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,900

INVESTMENT

$87,900

Down Payment
$77,500
Rehab Estimate
$5,750
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,500
Loan Amount $232,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$27,366

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,478

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,4003$2,4804$2,5005$2,700
$2,700
RENT COMPS ANALYSIS
  • 7811 Allegro Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,898 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,898 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.86
    •  
  • 8631 Backcove Court Houston, TX 1
    • 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,645 Sqft ∙ Built 1997
    LEASED 10/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 8403 Shadow Gate Court Houston, TX 2
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 1999
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.86
    •  
  • 8414 Battleoak Drive Houston, TX 4
    • 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 1986 4 beds 3 baths ∙ 3,054 Sqft ∙ Built 1986
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.82
    •  
  • 7811 Percussion Place Houston, TX 5
    • 4 beds 4 baths ∙ 2,956 Sqft ∙ Built 1998 4 beds 4 baths ∙ 2,956 Sqft ∙ Built 1998
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $0.91
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 72118060
Last Updated: 11/27/2020
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