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9306 Stockwell Drive Houston, TX 77083

3 Beds 2 Baths 1,634 sqft Built 1982

$159,900

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $97.86
  • 7 Days on Market
  • MLS # : 18033789
  • Updated Date : 01/26/2021 at 17:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,634 sqft
  • Baths : 2 full
Listing Agent

Realty Kings Properties

Listing Agent's Description

Look no further! This 3-bedroom, 2-bathroom patio home is excellent for first time home buyers or anyone looking for an amazing deal. The interior offers easy to clean tile floors, fresh paint with neutral colors, and abundant natural light throughout. Expansive living room with cozy fireplace and loft area with lovely built-ins. The well-appointed kitchen features breakfast bar, 30-inch cabinets, and easy access to the dining room. The primary bedroom boasts ensuite bath with double sinks, vanity area, large walk-in closet and sliding glass patio door leading you out and onto the backyard. Two additional bedrooms with walk-in closet and a full bath. The fully fenced backyard provides a perfect area for privacy and family enjoyment. The community offers, parks, clubhouse, basketball courts and more! Don't miss out on this great opportunity to make this home yours. Schedule your tour 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: Keegans Wood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $68k222k

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

Neighborhood: Keegans Wood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8271677

* 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

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

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$555
Property Tax -$378
Property Insurance -$138
HOA -$23
Property Management Fees -$99
CASH FLOW
$188

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

$1,380

PROJECTED RENT

0.86%

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 45% down payment or higher enables the proceeds from the asset to cover all costs.

$555

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $39,975
Loan Amount $119,925
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$15,717

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
  • $1,385

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3803$1,4004$1,5005$1,525
$1,525
RENT COMPS ANALYSIS
  • 9306 Stockwell Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.84
    •  
  • 9622 Homeland Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1982
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
  • 9231 Lynchester Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,629 Sqft ∙ Built 1986
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 9306 Clipperwood Place Houston, TX 4
    • 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,775 Sqft ∙ Built 1983
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.85
    •  
  • 9327 Beringwood Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 1983
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.87
    •  
PROPERTY LISTING DETAILS
Patrick King
1.713.987.7050
Realty Kings Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 18033789
Last Updated: 01/26/2021
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