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8118 Hall View Drive Houston, TX 77075

5 Beds 3 Baths 2,718 sqft Built 2014

$250,000

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $91.98
  • 3 Days on Market
  • MLS # : 31713357
  • Updated Date : 02/05/2021 at 21:56
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,718 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Welcome, Home! This charming home nestled in the quaint neighborhood of Hall Park Place features great curb appeal & NO back neighbors! Upon entering the entry boasts laminate flooring that extends throughout the first floor. The kitchen has been updated & showcases gorgeous granite counters, an abundance of cabinetry, black appliances, under-mount sink! The open and bright living/dining combo is perfect for entertaining. Generous Master Suite leads to the Master Bathroom which has dual vanity sinks, garden tub, separate shower, and huge walk-in closet! Upstairs Game Room is ready for hours of fun! All Secondary Bedrooms are spacious and have abundant walk-in closets! Retreat to the backyard and hang out on your private deck and BBQ on your grill while entertaining on a hot summer day! This prime piece of property is easily accessible to freeways, shopping, and the City!

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: Greater Hobby Area

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Greater Hobby Area

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Jc Mitchell Elementary School Primary Regular 605 29 5
Thomas Middle School Middle Regular 476 32 3
Sterling High School High Magnet 1,060 60 2

Jc Mitchell Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 29
5
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Sterling High School

  • Education Level: High
  • # of students: 1,060
  • # of teachers: 60
2
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$868
Property Tax -$527
Property Insurance -$211
HOA -$32
Property Management Fees -$99
CASH FLOW
$143

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.

$250,000

PROJECTED PRICE

$1,880

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.4%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$13,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.69

    LIST RENT PER SQFT
  • $2,079

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8753$1,8804$2,0005$2,400
$2,400
RENT COMPS ANALYSIS
  • 8118 Hall View Drive Houston, TX 3
    • 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,718 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.69
    •  
  • 8340 Folkstone Lane Houston, TX 1
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1997
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 11119 Mooring Ridge Lane Houston, TX 2
    • 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,385 Sqft ∙ Built 2005
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
  • 9038 Mercury Cove Court Houston, TX 4
    • 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,560 Sqft ∙ Built 2006
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 3638 Watzek Way Pearland, TX 5
    • 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2014 4 beds 3 baths ∙ 3,008 Sqft ∙ Built 2014
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.80
    •  
PROPERTY LISTING DETAILS
Kathryn Robinson
1.404.915.6282
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31713357
Last Updated: 02/05/2021
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