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811 Audra Lane Spring, TX 77386

3 Beds 3 Baths 1,966 sqft Built 2012

$240,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $122.08
  • 2 Days on Market
  • MLS # : 88699858
  • Updated Date : 02/13/2021 at 18:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,966 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Check out this lovely 3 bedroom home in Aaron's Place subdivision conveniently located off Rayford Rd! This quiet community is cozy and tucked away from the hustle and bustle. The majority of the floors have been updated with wood laminate, as well as, new carpet in the secondary bedrooms. The office is located on the 1st floor along with a half bath for your guests. The living room is spacious with tall ceilings and there is crown molding throughout the home. The kitchen boasts beautiful upgraded cabinets, countertops and backsplash! The breakfast room has a view of the fenced backyard and the greenspace behind! The stairway steps are solid wood and they are gorgeous! The primary bedroom is directly to the left on the 2nd floor and it offers plenty of space for a king size bed and furniture. The primary bath has a walk-in shower, tub and dual sinks! Additional steps lead to the gameroom, two more spacious secondary bedrooms and a full bathroom! This home has never flooded!

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MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10132063

* 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
Ford Elementary School Primary Regular 991 58 6
Gerald D Irons Jr High School Middle Unknown 1,102 70 NA
Oak Ridge High School High Regular 3,637 202 8

Ford Elementary School

  • Education Level: Primary
  • # of students: 991
  • # of teachers: 58
6
GreatSchools Rating

Gerald D Irons Jr High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 70
NA
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$834
Property Tax -$499
Property Insurance -$141
HOA -$29
Property Management Fees -$99
CASH FLOW
$199

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.

$240,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.75%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$16,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,809

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,7503$1,8004$1,8505$1,885
$1,885
RENT COMPS ANALYSIS
  • 811 Audra Lane Spring, TX 3
    • 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 25403 Rayford Crest Drive Spring, TX 1
    • 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2004
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 827 Audra Lane Spring, TX 2
    • 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2012 3 beds 3 baths ∙ 1,966 Sqft ∙ Built 2012
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.89
    •  
  • 722 Audra Lane Spring, TX 4
    • 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,927 Sqft ∙ Built 2014
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.96
    •  
  • 711 Aulia Lane Spring, TX 5
    • 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,024 Sqft ∙ Built 2013
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,885
    • $0.93
    •  
PROPERTY LISTING DETAILS
Nedal Walker
1.832.745.2022
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88699858
Last Updated: 02/13/2021
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