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8234 Woodland Willows Drive Houston, TX 77083

3 Beds 2 Baths 1,400 sqft Built 1997

INVESTimate

$169,900

List Price

$1,380

$1,242 - $1,518

Rent Est.

$184,596  ( +8.65%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $121.36
  • 5 Days on Market
  • MLS # : 16919480
  • Updated Date : 08/24/2020 at 10:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,400 sqft
  • Baths : 2 full
Listing Agent

Abby Realty

Listing Agent's Description

Welcome, Home!!! Great School District. Take Advantage and Become Part of this Community, this is the Most Affordable home at Mission Glen. Gorgeous 3 bedroom 2 full bath home has plenty of space to entertain your guest. This home features Tile Floors All Throughout & No Carpet. Formal Living Room w/High Ceiling & Fireplace. Spacious Master Bedroom with Plenty of Natural Light. Ceiling Fans w/Light Fixture in Most Rooms. Utility Room in House. Big back yard for kids/pets to play!. Conveniently Located close to Shopping Centers, Library, and Restaurants. Minutes from major highways Highway 6, West park Tollway & 99 Grand Pkwy. LOW TAX RATE, High and Dry No Flooding, Schedule Your Appointment TODAY!

SEE MORE

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: Mission Glen

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Mission Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8141677

* 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
Mission Glen Elementary School Primary Regular 493 39 4
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Mission Glen Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 39
4
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Bush High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 112
6
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$627
Property Tax -$351
Property Insurance -$108
HOA -$31
Property Management Fees -$99
CASH FLOW
$164

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.

$169,900

PROJECTED PRICE

$1,380

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.65%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$18,002

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,379

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3753$1,3804$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 8234 Woodland Willows Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,400 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.99
    •  
  • 15306 Town Green Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,331 Sqft ∙ Built 1996
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.00
    •  
  • 8211 Valeta Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1981
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.96
    •  
  • 15246 S Barbarossa Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1981
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.98
    •  
  • 8218 Viny Ridge Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1993
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
PROPERTY LISTING DETAILS
Delia Barajas
1.281.814.8503
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 16919480
Last Updated: 08/24/2020
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