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8311 Woodland Willows Drive Houston, TX 77083

3 Beds 2 Baths 1,643 sqft Built 1996

INVESTimate

$189,000

List Price

$1,460

$1,314 - $1,606

Rent Est.

$205,349  ( +8.65%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1996
  • Price/Sqft : $115.03
  • 10 Days on Market
  • MLS # : 98367982
  • Updated Date : 08/20/2020 at 16:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,643 sqft
  • Baths : 2 full
Listing Agent

City Insight Houston

Listing Agent's Description

Welcome Home!!! Just remodeled! NEVER FLOODED! This beautiful 3 bedroom 2 full bath home has enough space to entertain your guest and a nice yard for kids/pets to play! No back neighbors! Roof is only 3 years old! Fridge included***

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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: 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
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,314$1,606$1,460

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-$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 $1,460
EXPENSES Loan Payment -$697
Property Tax -$390
Property Insurance -$122
HOA -$29
Property Management Fees -$99
CASH FLOW
$123

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.

$189,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.77%

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$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$14,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4493$1,4604$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 8311 Woodland Willows Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.89
    •  
  • 15514 Prairie Oaks Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 1995
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 15310 Wildwood Lake Drive Houston, TX 2
    • 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 1983
    property image
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.83
    •  
  • 15223 Stoneyview Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 2001
    property image
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 15242 Kingsbridge Way Houston, TX 5
    • 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,646 Sqft ∙ Built 1999
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
PROPERTY LISTING DETAILS
Maria Hernandez
1.832.782.4463
City Insight Houston
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 98367982
Last Updated: 08/20/2020
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