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8811 Kirkmont Drive Houston, TX 77089

3 Beds 2 Baths 1,182 sqft Built 1981

$179,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $152.20
  • 2 Days on Market
  • MLS # : 60420918
  • Updated Date : 12/12/2020 at 22:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,182 sqft
  • Baths : 2 full
Listing Agent

Re/max 5 Star Realty

Listing Agent's Description

Looking for the home with the big backyard with the pool for the entertaining of family and friends? Look no more, here it is. Recent upgrades to painting interior and exterior, siding, carpet, windows and more. Sits on a cul de sac and street with minimal traffic. Enjoy your evenings by the fireplace and your summers in the pool. Great location to get you to down town or to Galveston. Don't wait, book your showing today!

SEE MORE

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: Kirkmont

NeighborhoodNIR Market*CityMarket2010Year2000201980k90k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $79k222k

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

Neighborhood: Kirkmont

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8451677

* 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
Moore Elementary School Primary Regular 545 36 6
Beverly Hills Intermediate School Middle Regular 1,020 64 6
J Frank Dobie High School High Regular 4,010 223 5

Moore Elementary School

  • Education Level: Primary
  • # of students: 545
  • # of teachers: 36
6
GreatSchools Rating

Beverly Hills Intermediate School

  • Education Level: Middle
  • # of students: 1,020
  • # of teachers: 64
6
GreatSchools Rating

J Frank Dobie High School

  • Education Level: High
  • # of students: 4,010
  • # of teachers: 223
5
GreatSchools Rating
 

$161,910$197,890$179,900

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 -$664
Property Tax -$428
Property Insurance -$107
HOA -$14
Property Management Fees -$99
CASH FLOW
$68

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.

$179,900

PROJECTED PRICE

$1,380

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$7,958

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
  • $1.17

    LIST RENT PER SQFT
  • $1,232

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,3503$1,3804$1,3995$1,400
$1,400
RENT COMPS ANALYSIS
  • 8811 Kirkmont Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.17
    •  
  • 8803 Kirkmont Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,182 Sqft ∙ Built 1982
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.02
    •  
  • 9311 Kingsflower Circle Houston, TX 2
    • 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 1984
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.99
    •  
  • 10406 Kirkwren Drive Houston, TX 4
    • 3 beds 1 baths ∙ 1,296 Sqft ∙ Built 1977 3 beds 1 baths ∙ 1,296 Sqft ∙ Built 1977
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $1.08
    •  
  • 10311 Kirkwren Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 1977
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.08
    •  
PROPERTY LISTING DETAILS
D'ann Fleming
1.281.253.7712
Re/max 5 Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 60420918
Last Updated: 12/12/2020
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