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8526 Southmeadow Drive Houston, TX 77071

3 Beds 2 Baths 1,640 sqft Built 1983

$190,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $115.85
  • 2 Days on Market
  • MLS # : 96129010
  • Updated Date : 01/09/2021 at 16:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,640 sqft
  • Baths : 2 full
Listing Agent

Sonnet Properties Int.

Listing Agent's Description

Lovely home in quiet neighborhood. Open floor plan. Large Family Room with soaring ceilings and great spaces for entertaining, or family gatherings. This home has lots of upgrades that you will have to see to appreciate. Replaced A/C unit and HVAC system – 2018 (John Moore warranty) Galvanized pipes have been converted to PVC Replaced all windows and patio door – 2020 – (lifetime warranty) New ceramic tile in hallway, living room, dining room, kitchen, pantry, utility room – 2020 Fresh paint throughout -2020 Nest Pro Learning Thermostat and new windows help with energy efficiency Home is pre-wired for alarm system LG TrueSteam washer and dryer remain with acceptable offer

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
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$660
Property Tax -$401
Property Insurance -$138
HOA -$29
Property Management Fees -$99
CASH FLOW
$53

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.

$190,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.73%

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

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$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

3.75

YEARS SAVED

$6,791

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,378

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,4253$1,4504$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 8526 Southmeadow Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.84
    •  
  • 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
    •  
  • 11806 Alex Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,622 Sqft ∙ Built 2000
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.89
    •  
  • 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
Vivian Van Alstine
1.281.844.4467
Sonnet Properties Int.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 96129010
Last Updated: 01/09/2021
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