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8214 Shoregrove Drive Houston, TX 77346

4 Beds 3 Baths 2,692 sqft Built 2000

$274,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $102.12
  • 2 Days on Market
  • MLS # : 33436885
  • Updated Date : 11/21/2020 at 10:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,692 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Associates Northeast

Listing Agent's Description

Beautiful remodeled home. Kitchen with granite counters, stone backsplash, stainless appliances & soft close kitchen cabinets & drawers. Tile wood look floors throughout first floor. New carpet upstairs. Hugh covered patio wires for TV. Home is wired for sound throughout. High ceilings. No back neighbors. The community HOA amenities are beyond the backyard. Includes tennis, basket ball hoop, playground & pool.

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: Atascocita Shores

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $105k363k

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

Neighborhood: Atascocita Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10422364

* 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
Pine Forest Elementary School Primary Regular 659 40 7
Atascocita Middle School Middle Regular 1,161 66 6
Atascocita High School High Regular 3,214 182 6

Pine Forest Elementary School

  • Education Level: Primary
  • # of students: 659
  • # of teachers: 40
7
GreatSchools Rating

Atascocita Middle School

  • Education Level: Middle
  • # of students: 1,161
  • # of teachers: 66
6
GreatSchools Rating

Atascocita High School

  • Education Level: High
  • # of students: 3,214
  • # of teachers: 182
6
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,014
Property Tax -$580
Property Insurance -$209
HOA -$51
Property Management Fees -$99
CASH FLOW
$137

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.

$274,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.2%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$14,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,207

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0003$2,0004$2,0905$2,100
$2,100
RENT COMPS ANALYSIS
  • 8214 Shoregrove Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $0.78
    •  
  • 19603 Water Point Trail Humble, TX 1
    • 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,381 Sqft ∙ Built 1997
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.83
    •  
  • 20654 Emerald Spruce Court Humble, TX 2
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 2000
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.76
    •  
  • 20236 Sunny Shores Drive Humble, TX 3
    • 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,376 Sqft ∙ Built 1992
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 19726 Water Point Trail Humble, TX 5
    • 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,465 Sqft ∙ Built 1998
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
PROPERTY LISTING DETAILS
Virginia Calise
1.631.379.8997
Re/max Associates Northeast
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 33436885
Last Updated: 11/21/2020
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