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8334 Cross Country Drive Humble, TX 77346

3 Beds 2 Baths 2,115 sqft Built 2004

$235,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $111.11
  • 5 Days on Market
  • MLS # : 75739442
  • Updated Date : 11/19/2020 at 10:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,115 sqft
  • Baths : 2 full
Listing Agent

Dream Realty

Listing Agent's Description

If you've ever wanted to live on a golf course, now is your chance! This GORGEOUS home is located on the 9th hole of the Walden on Lake Houston Golf Course. Enjoy the beautiful, open kitchen featuring granite countertops, recessed lighting, and numerous areas for bar seating, including the island! The living room has plenty of room for seating and features a gorgeous fireplace. If you want a large primary bedroom & bathroom, this home is for you! The primary bathroom has 2 spacious, walk-in closets, double sinks, a vanity area, a walk-in shower, and a spa tub! The backyard is perfect for those who enjoy lounging, grilling, and delight in a gorgeous view. There's ample room for seating, PLUS the outdoor TV is included! The garage door includes the MyQ Wifi Smart Garage Door Opener as well. To top it all off, this home has a new roof as of 2018 and has NEVER FLOODED! The golf cart, washer and dryer are all negotiable. Don't wait! Schedule your showing today!

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: Olympic Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k309k

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

Neighborhood: Olympic Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10422027

* 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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$867
Property Tax -$551
Property Insurance -$170
HOA -$30
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.

$235,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.0%
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

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,337

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,655
1$1,6552$1,8003$1,8004$1,8505$1,995
$1,995
RENT COMPS ANALYSIS
  • 8334 Cross Country Drive Humble, TX 3
    • 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,115 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 18722 Walden Glen Circle Humble, TX 1
    • 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,032 Sqft ∙ Built 2013
    property image
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,655
    • $0.81
    •  
  • 19514 Arbor Pines Lane Humble, TX 2
    • 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,087 Sqft ∙ Built 2002
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 18918 Owen Oak Drive Humble, TX 4
    • 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,309 Sqft ∙ Built 2004
    property image
    LEASED 12/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.80
    •  
  • 8222 Cross Country Drive Humble, TX 5
    • 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2003
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lillian Hermes
1.281.435.0873
Dream Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 75739442
Last Updated: 11/19/2020
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