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8523 Dawnridge Drive Houston, TX 77071

3 Beds 2 Baths 1,839 sqft Built 1983

$188,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 1983
  • Price/Sqft : $102.23
  • 11 Days on Market
  • MLS # : 85127215
  • Updated Date : 10/27/2020 at 13:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,839 sqft
  • Baths : 2 full
Listing Agent

Shamrock, Realtors

Listing Agent's Description

Beautiful maintained Patio home in the lovely heart of Southwest Houston! Large bedrooms and walk in closets! Brand new carpet through out the entire house. Open floor plan with large family room open to the formal dining room with a wet bar for all your entertaining needs!! Breakfast area in kitchen with plenty of counter space!! Extra large utility room!! Covered indoor patio and so much more! Hurry this gem wont last long!!

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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: 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
 

$169,200$206,800$188,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$694
Property Tax -$396
Property Insurance -$152
HOA -$30
Property Management Fees -$99
CASH FLOW
$70

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.

$188,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.77%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,570

INVESTMENT

$55,570

Down Payment
$47,000
Rehab Estimate
$5,750
Closing Costs
$2,820

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$694

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,000
Loan Amount $141,000
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$9,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,467

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,4253$1,4404$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 8523 Dawnridge Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.78
    •  
  • 12118 Merewood Lane Houston, TX 1
    • 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1981 3 beds 3 baths ∙ 1,794 Sqft ∙ Built 1981
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.72
    •  
  • 8122 Sandy Glen Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,791 Sqft ∙ Built 1983
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.80
    •  
  • 12127 Meadow Place Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 1992 3 beds 3 baths ∙ 1,805 Sqft ∙ Built 1992
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.83
    •  
  • 8827 Deer Meadow Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1993 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 1993
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
PROPERTY LISTING DETAILS
Vergie Trug
1.281.495.9111
Shamrock, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 85127215
Last Updated: 10/27/2020
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