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8630 N Hemlock Hill Drive Alief, TX 77083

3 Beds 3 Baths 1,504 sqft Built 1984

$159,900

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $106.32
  • 8 Days on Market
  • MLS # : 55497356
  • Updated Date : 01/01/2021 at 23:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,504 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Reel Estate Company

Listing Agent's Description

Lovely patio home with high ceilinged entry and vaulted ceiling family room with fireplace. The master bedroom is down with two bedrooms up. The kitchen is open to the living and breakfast area with a glass sliding door to a partially enclosed patio opening to the back yard. The patio also leads to a two car garage offering entry from the lane behind the home. The stairs lead to two bedrooms and a full bath on the second floor. Recreation area and public school are close by. Freshly painted inside and out.

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: Beechnut Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Beechnut Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8151677

* 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
Youngblood Intermediate School Primary Regular 1,094 75 6
Albright Middle School Middle Regular 1,267 87 6
Hastings High School High Regular 3,890 260 4

Youngblood Intermediate School

  • Education Level: Primary
  • # of students: 1,094
  • # of teachers: 75
6
GreatSchools Rating

Albright Middle School

  • Education Level: Middle
  • # of students: 1,267
  • # of teachers: 87
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$143,910$175,890$159,900

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$590
Property Tax -$380
Property Insurance -$129
HOA -$82
Property Management Fees -$99
CASH FLOW
$150

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.

$159,900

PROJECTED PRICE

$1,430

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$48,124

INVESTMENT

$48,124

Down Payment
$39,975
Rehab Estimate
$5,750
Closing Costs
$2,399

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $39,975
Loan Amount $119,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$13,972

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,429

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,4003$1,4004$1,4305$1,475
$1,475
RENT COMPS ANALYSIS
  • 8630 N Hemlock Hill Drive Alief, TX 4
    • 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,504 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.95
    •  
  • 8623 Kinghaven Street Houston, TX 1
    • 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,423 Sqft ∙ Built 1984
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.93
    •  
  • 8608 Mapletwist Street Houston, TX 2
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1998
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 13821 Purplemartin Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,493 Sqft ∙ Built 1984
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 13918 Maleewan Lane Sugar Land, TX 5
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 2004
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.94
    •  
PROPERTY LISTING DETAILS
Gerry Reel
1.713.202.5952
The Reel Estate Company
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55497356
Last Updated: 01/01/2021
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