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8223 Silver Lure Drive Humble, TX 77346

4 Beds 2 Baths 2,396 sqft Built 1999

INVESTimate

$239,500

List Price

$1,850

$1,665 - $2,035

Rent Est.

$250,373  ( +4.54%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $99.96
  • 6 Days on Market
  • MLS # : 37946960
  • Updated Date : 08/22/2020 at 17:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,396 sqft
  • Baths : 2 full
Listing Agent

Re/max Associates Northeast

Listing Agent's Description

TEXAS SIZE OPEN/SPLIT ONE STORY 4/2/2 ON A PREMIUM GOLF COURSE LOT IS AGGRESSIVELY PRICED TO SELL IN THIS HOT MARKET! TILE CUT-ON-THE-DIAGONAL IS LACED THROUGH YOUR ENTIRE HUGE LIVING AREA AND IS CHILD/PET FRIENDLY! WOOD PLANK TILE IN THE MASTER BEDROOM AND MASTER BATH ADDS A NICE TOUCH! INTERIOR HAS BEEN FRESHLY REPAINTED AND CARPET HAS BEEN REPLACED IN ALL SECONDARY BEDROOMS! STAINLESS STEEL APPLIANCES, GRANITE AND TUMBLED MARBLE BACK SPLASH HAVE ALREADY BEEN UPDATED. GRANITE IN BOTH BATHROOMS AND UPDATED LIGHT FIXTURES THROUGHOUT IS A PLUS! ELEVATED CEILING AND TONS OF BUILT-INS GIVES THIS HOME A CUSTOM FEEL. WASHER/DRYER/FRIDGE ARE INCLUDED AND MAKES THIS HOME MOVE-IN READY! YOUR ONE STORY HAS HIGH-PITCHED ROOF LINES, ALL BRICK-SURROUND AND PRIVATELY TUCKED AROUND AMAZING PANORAMIC GOLF VIEWS OF THE 16TH GREEN & POND. SPRINKLER SYSTEM HELPS IN THIS HEAT! ENJOY GOLF/TENNIS/LAKE LIVING AT IT'S BEST. NICE/ UNIQUE ONE STORIES IN WALDEN DO NOT LAST, CALL YOUR REALTOR TODAY!

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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

Neighborhood: Sportsman Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Sportsman Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Maplebrook Elementary School Primary Regular 699 41 6
Atascocita Middle School Middle Regular 1,161 66 6
Atascocita High School High Regular 3,214 182 6

Maplebrook Elementary School

  • Education Level: Primary
  • # of students: 699
  • # of teachers: 41
6
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
 

$215,550$263,450$239,500

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$884
Property Tax -$562
Property Insurance -$189
HOA -$30
Property Management Fees -$99
CASH FLOW
$86

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.

$239,500

PROJECTED PRICE

$1,850

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.54%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,218

INVESTMENT

$69,218

Down Payment
$59,875
Rehab Estimate
$5,750
Closing Costs
$3,593

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$884

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,875
Loan Amount $179,625
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,424

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,965

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8503$1,8504$1,8505$2,200
$2,200
RENT COMPS ANALYSIS
  • 8223 Silver Lure Drive Humble, TX 4
    • 4 beds 2 baths ∙ 2,396 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,396 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 18502 Quail Brock Drive Humble, TX 1
    • 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,340 Sqft ∙ Built 1999
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 8415 Trophy Place Drive Humble, TX 2
    • 3 beds 2 baths ∙ 2,244 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,244 Sqft ∙ Built 2000
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 8835 Cross Country Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 1994
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
  • 18027 Millau Viaduct Way Houston, TX 5
    • 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,374 Sqft ∙ Built 2016
    LEASED 11/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.93
    •  
PROPERTY LISTING DETAILS
Reuben Vela
1.281.546.1313
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 #: 37946960
Last Updated: 08/22/2020
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