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10115 Cedaredge Drive Houston, TX 77064

4 Beds 3 Baths 2,711 sqft Built 1991

$269,999

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $99.59
  • 2 Days on Market
  • MLS # : 66837388
  • Updated Date : 01/23/2021 at 14:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,711 sqft
  • Baths : 2 full , 1 half
Listing Agent

Absolute Realty Group Inc.

Listing Agent's Description

New roof in 2016 ! Welcome to this warm Family Dwelling! MOVE IN READY! NEVER FLOOD! This 4 bedrooms, 2.5 baths is nested in a QUIET neighborhood. This house features great floor plan, Formal dining room, kitchen breakfast combo, and the fireplace located in the family room. Master bed with robe and ensuite. Separate bath and shower. Clear and large back yard with a patio makes a great area for gatherings or gardening. SCHEDULE YOUR SHOWING TODAY.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Winchester Country

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Winchester Country

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9141677

* 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
Bang Elementary School Primary Regular 959 59 5
Cook Middle School Middle Regular 1,581 93 7
Jersey Village High School High Regular 3,461 204 6

Bang Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 59
5
GreatSchools Rating

Cook Middle School

  • Education Level: Middle
  • # of students: 1,581
  • # of teachers: 93
7
GreatSchools Rating

Jersey Village High School

  • Education Level: High
  • # of students: 3,461
  • # of teachers: 204
6
GreatSchools Rating
 

$242,999$296,999$269,999

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$938
Property Tax -$643
Property Insurance -$210
HOA -$27
Property Management Fees -$99
CASH FLOW
$123

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.

$269,999

PROJECTED PRICE

$2,040

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.2%
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$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,300

INVESTMENT

$77,300

Down Payment
$67,500
Rehab Estimate
$5,750
Closing Costs
$4,050

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$938

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,500
Loan Amount $202,499
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$10,051

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9504$2,0405$2,100
$2,100
RENT COMPS ANALYSIS
  • 10115 Cedaredge Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 1991 4 beds 3 baths ∙ 2,711 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.75
    •  
  • 9923 Autumn Way Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,434 Sqft ∙ Built 1999
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 9718 Trailing Moss Drive Drive Houston, TX 2
    • 3 beds 3 baths ∙ 2,560 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,560 Sqft ∙ Built 1997
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.74
    •  
  • 9327 Willow Crossing Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,621 Sqft ∙ Built 2000
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 9822 Winter Run Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,778 Sqft ∙ Built 1996
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.76
    •  
PROPERTY LISTING DETAILS
Andrew Nguyen
1.281.975.7766
Absolute Realty Group Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 66837388
Last Updated: 01/23/2021
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