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8514 Deer Meadow Drive Houston, TX 77071

4 Beds 3 Baths 2,017 sqft Built 1983

$199,990

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $99.15
  • 2 Days on Market
  • MLS # : 31498382
  • Updated Date : 01/09/2021 at 16:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,017 sqft
  • Baths : 3 full
Listing Agent

Martins Realty

Listing Agent's Description

Gorgeous two story home on a cul-de-sac lot - with a pool. Home has been completely renovated. New travertine flooring on the first floor. Laminate flooring on stairs and two rooms upstairs. Recent roof, new hardie siding in the exterior. Home has been freshly painted both in and out. Renovated bathrooms with granite tops and cabinetry. Please bring your picky buyers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Greater Fondren Southwest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Greater Fondren Southwest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Jenard Gross Elementary School Primary Regular 728 39 4
Welch Middle School Middle Magnet 884 53 2
Westbury High School High Magnet 2,180 116 3

Jenard Gross Elementary School

  • Education Level: Primary
  • # of students: 728
  • # of teachers: 39
4
GreatSchools Rating

Welch Middle School

  • Education Level: Middle
  • # of students: 884
  • # of teachers: 53
2
GreatSchools Rating

Westbury High School

  • Education Level: High
  • # of students: 2,180
  • # of teachers: 116
3
GreatSchools Rating
 

$179,991$219,989$199,990

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$695
Property Tax -$422
Property Insurance -$164
HOA -$27
Property Management Fees -$99
CASH FLOW
$114

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.

$199,990

PROJECTED PRICE

$1,520

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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-$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$58,747

INVESTMENT

$58,747

Down Payment
$49,998
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,998
Loan Amount $149,993
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$10,859

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,493

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5203$1,5504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 8514 Deer Meadow Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,017 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.75
    •  
  • 7823 Redgate Circle Houston, TX 1
    • 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,862 Sqft ∙ Built 1983
    LEASED 09/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.73
    •  
  • 8807 Sterlingame Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,070 Sqft ∙ Built 1976
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 12022 Merewood Lane Houston, TX 4
    • 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1980 4 beds 2 baths ∙ 2,158 Sqft ∙ Built 1980
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 8018 Cobblefield Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,166 Sqft ∙ Built 1982
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.76
    •  
PROPERTY LISTING DETAILS
Ashley Martins
1.713.875.9555
Martins Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31498382
Last Updated: 01/09/2021
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