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9926 Driftwood Park Drive Houston, TX 77095

3 Beds 2 Baths 1,859 sqft Built 2004

$207,450

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2004
  • Price/Sqft : $111.59
  • 3 Days on Market
  • MLS # : 17007746
  • Updated Date : 11/07/2020 at 08:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,859 sqft
  • Baths : 2 full
Listing Agent

Re/max Executives

Listing Agent's Description

WONDERFUL 3 BEDROOM WITH OPTIONAL STUDY OR 4TH BEDROOM, GRANITE COUNTER IN KITCHEN, VERY UNIQUE AND VERSATILE FLOOR PLAN, LARGE KITCHEN WITH GAS COOK TOP AND LOTS OF COUNTER SPACE FOR THOSE FAMILY GATHERINGS, LARGE MASTER RETREAT WITH EXEC BATH THAT INCLUDES SEP. SHOWER AND WHIRLPOOL TUB, VAULTED CEILINGS IN LIVING ROOM WITH FIREPLACE, , RECENTLY REPLACED SHOWER PAN, FRESH PAINT IN SOME ROOMS. OUR WONDERFUL TENANTS HAVE TAKEN WONDERFUL CARE OF THE HOUSE BUT SADLY ARE MOVING OUT IN LATE NOVEMBER

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: White Oak Falls

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k311k

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

Neighborhood: White Oak Falls

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691703

* 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
Fiest Elementary School Primary Regular 1,130 61 5
Labay Middle School Middle Regular 1,478 90 7
Cypress Falls High School High Regular 3,667 214 NA

Fiest Elementary School

  • Education Level: Primary
  • # of students: 1,130
  • # of teachers: 61
5
GreatSchools Rating

Labay Middle School

  • Education Level: Middle
  • # of students: 1,478
  • # of teachers: 90
7
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students: 3,667
  • # of teachers: 214
NA
GreatSchools Rating
 

$186,705$228,195$207,450

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$765
Property Tax -$466
Property Insurance -$153
Property Management Fees -$99
CASH FLOW
$87

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.

$207,450

PROJECTED PRICE

$1,570

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.7%
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$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$60,724

INVESTMENT

$60,724

Down Payment
$51,863
Rehab Estimate
$5,750
Closing Costs
$3,112

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$765

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,863
Loan Amount $155,588
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,943

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5803$1,6254$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 9926 Driftwood Park Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.84
    •  
  • 9830 Lynette Falls Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2004
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.90
    •  
  • 9926 Lynette Falls Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,895 Sqft ∙ Built 2004
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.86
    •  
  • 21419 Mission Falls Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2007
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 10027 Driftwood Park Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,834 Sqft ∙ Built 2005
    LEASED 12/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.93
    •  
PROPERTY LISTING DETAILS
David Montz
1.713.667.1001
Re/max Executives
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 17007746
Last Updated: 11/07/2020
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