Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

8307 Clover Gardens Drive Houston, TX 77095

4 Beds 3 Baths 2,308 sqft Built 1982

$230,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $99.65
  • 2 Days on Market
  • MLS # : 34052966
  • Updated Date : 01/30/2021 at 20:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,308 sqft
  • Baths : 2 full , 1 half
Listing Agent

Benevides & Associates

Listing Agent's Description

The established Copperfield Middlegate Village Community located directly off of the Northwest area of HWY 6 now has a 4 bedroom, 2308 square foot home with custom wrought iron driveway gate on the market! With all bedrooms up, downstairs holds an open foyer with bricked fireplace in the family room, a formal living and dining, with breakfast room in the kitchen. A warm color interior palette from wood floors to walls and granite counters, Clover Gardens has many windows, gutters and an Ecobee thermostat. The detached garage still makes way for a fairly large fenced in backyard- thanks to the automatic driveway Texas gate. Neighborhood sidewalks will draw you to explore with shops and other daily errand stores nearby!

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: Copperfield Middlegate Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Copperfield Middlegate Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Fiest Elementary School Primary Regular 1,130 61 5
Labay Middle School Middle Regular 1,478 90 7
Cypress Falls High School High Unknown NA

Fiest Elementary School

  • Education Level: Primary
  • # of students: 1,130
  • # of teachers: 61
5
GreatSchools Rating

Labay Middle School

  • Education Level: Middle
  • # of students: 1,478
  • # of teachers: 90
7
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$799
Property Tax -$485
Property Insurance -$183
HOA -$52
Property Management Fees -$99
CASH FLOW
$82

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.

$230,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.8%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$6,716

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,668

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,7004$1,7255$1,750
$1,750
RENT COMPS ANALYSIS
  • 8307 Clover Gardens Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,308 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 8110 Green Devon Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,173 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,173 Sqft ∙ Built 1983
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.71
    •  
  • 15335 Glenwood Park Drive Houston, TX 2
    • 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,304 Sqft ∙ Built 1982
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.68
    •  
  • 8110 Sunny Ridge Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1984
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.74
    •  
  • 16006 Maple Acres Court Houston, TX 5
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 1984
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
PROPERTY LISTING DETAILS
Isis Mccraw
1.713.628.9379
Benevides & Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 34052966
Last Updated: 01/30/2021
BESbswy