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89 High Oak The Woodlands, TX 77380

3 Beds 3 Baths 1,550 sqft Built 1986

INVESTimate

$210,000

List Price

$1,530

$1,377 - $1,683

Rent Est.

$219,030  ( +4.30%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1986
  • Price/Sqft : $135.48
  • 6 Days on Market
  • MLS # : 26034068
  • Updated Date : 08/24/2020 at 11:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,550 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Integrity

Listing Agent's Description

GREAT LOCATION! Within 5 minutes from I-45, Hardy Toll Road, IAH and Grand Parkway! This lovely home offers 3 bedrooms, 2.5 baths, awesome covered patio/deck. This amazing home offers NEW paint and carpet! MOVE IN READY, SPOTLESS, private back yard & even the garage is pristine!

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: Grogan's Mill

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Grogan's Mill

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Sam Hailey Elementary School Primary Regular 720 42 6
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Sam Hailey Elementary School

  • Education Level: Primary
  • # of students: 720
  • # of teachers: 42
6
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

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$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$775
Property Tax -$412
Property Insurance -$117
Property Management Fees -$99
CASH FLOW
$128

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.

$210,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.30%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$13,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,527

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5303$1,5504$1,5505$1,550
$1,550
RENT COMPS ANALYSIS
  • 89 High Oak The Woodlands, TX 2
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.99
    •  
  • 38 Camberwell Court Spring, TX 1
    • 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,467 Sqft ∙ Built 1986
    property image
    LEASED 08/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.00
    •  
  • 39 S White Pebble Court The Woodlands, TX 3
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 1982
    property image
    LEASED 11/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 26 S Elm Branch Place The Woodlands, TX 4
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1992
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
  • 89 W High Oaks Circle The Woodlands, TX 5
    • 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986 3 beds 3 baths ∙ 1,550 Sqft ∙ Built 1986
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
PROPERTY LISTING DETAILS
Vickie Milano
1.281.773.9676
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26034068
Last Updated: 08/24/2020
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