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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $104.76
- 2 Days on Market
- MLS # : 44855091
- Updated Date : 07/12/2021 at 16:37
CONSTRUCTION
- Beds : 3
- Floor Size : 2,310 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Signature
Listing Agent's Description
You’ll love this beautiful 2 story home located in a quiet cul-de-sac with convenient access to schools and I-45! Amazing yard with deck, raised bed gardens, utility shed, and even a private gate to the community park! Versatile floor plan includes fully interchangeable formal living/dining rooms, a breakfast nook, and generous loft. New AC condenser, attic spray foam insulation, and several replaced windows will help to keep your cooling costs down. This home also offers complete rain gutters with leaf guards, whole-house water filtration, partial new fencing, updates to bathrooms and lighting, and lots of storage! Come make it yours today!
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Zip Code: 77378
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 77378
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,750 |
| EXPENSES | Loan Payment | -$841 |
| Property Tax | -$428 | |
| Property Insurance | -$160 | |
| HOA | -$27 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$194
|
||
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.
$242,000
PROJECTED PRICE
$1,750
PROJECTED RENT
0.72%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.99% |
| Appreciation Year (1-5) | 7.3% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.01% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,880
LOAN DETAILS
$841
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $60,500 |
| Loan Amount | $181,500 |
6.67
YEARS SAVED
$19,738
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,750
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$1,779
COMP ESTIMATED VALUE -
$0.77
COMP AVG. RENT PER SQFT
Comps Range
-
987 Oak Lynn Drive Willis, TX 5
- 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,310 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $1,750
- $0.76
-
995 Oak Falls Drive Conroe, TX 1
- 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2004
LEASED 03/01/21- Rent
- Rent Per SQFT
- $1,495
- $0.74
-
998 Oak Falls Drive Willis, TX 2
- 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2004
LEASED 10/30/20- Rent
- Rent Per SQFT
- $1,550
- $0.77
-
975 Oak Falls Drive Conroe, TX 3
- 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 2006
LEASED 08/26/20- Rent
- Rent Per SQFT
- $1,650
- $0.83
-
950 Oak Glen Drive Willis, TX 4
- 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2013
LEASED 05/29/21- Rent
- Rent Per SQFT
- $1,750
- $0.74
PROPERTY LISTING DETAILS
1.281.886.8242
Re/max Signature
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 44855091
Last Updated: 07/12/2021
