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8026 Durklyn Lane Houston, TX 77070

4 Beds 3 Baths 2,317 sqft Built 1983

$189,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $81.96
  • 4 Days on Market
  • MLS # : 92255511
  • Updated Date : 02/06/2021 at 17:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,317 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nexthome Realty Center

Listing Agent's Description

Rare find, over 1/3 acre homesite situated along a beautiful cul-de-sac street. These homes all have nice oversized lots and plenty of big trees. This great two story 4/2.5/2 home offers oversized bedrooms, walk in closets, a huge family room, primary bedroom downstairs and large upstairs game room along with three additional nice sized bedrooms. Several built-ins thru-out and crown molding downstairs. Beautiful brick fireplace with gas connection. The versatile study can be used as dining room, play room, or office. Upstairs AC unit has been replaced recently. This Texas Sized yard offers plenty of shade and space for entertaining or adding a pool. Personalize this home to make it your very own. No flooding here per seller!

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: Schroeder Oaks

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k245k

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

Neighborhood: Schroeder Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9101744

* 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
Hancock Elementary School Primary Regular 959 61 6
Bleyl Middle School Middle Regular 1,503 91 6
Cypress Creek High School High Regular 3,161 199 7

Hancock Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 61
6
GreatSchools Rating

Bleyl Middle School

  • Education Level: Middle
  • # of students: 1,503
  • # of teachers: 91
6
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$660
Property Tax -$445
Property Insurance -$184
HOA -$13
Property Management Fees -$99
CASH FLOW
$280

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.

$189,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 5.7%
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$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$24,583

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,819

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,625
1$1,6252$1,6803$1,6904$1,9505$2,011
$2,011
RENT COMPS ANALYSIS
  • 8026 Durklyn Lane Houston, TX 2
    • 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,317 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.73
    •  
  • 8015 Durklyn Lane Houston, TX 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1988
    LEASED 05/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.74
    •  
  • 13923 Hillingdale Lane Houston, TX 3
    • 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,253 Sqft ∙ Built 2001
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.75
    •  
  • 7603 Bideford Lane Houston, TX 4
    • 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,342 Sqft ∙ Built 1977
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
  • 8102 Wycomb Drive Houston, TX 5
    • 4 beds 4 baths ∙ 2,455 Sqft ∙ Built 1975 4 beds 4 baths ∙ 2,455 Sqft ∙ Built 1975
    LEASED 10/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,011
    • $0.82
    •  
PROPERTY LISTING DETAILS
Lori Selman
1.713.876.0460
Nexthome Realty Center
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 92255511
Last Updated: 02/06/2021
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