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10318 Fairview Drive Crosby, TX 77532

3 Beds 2 Baths 1,458 sqft Built 2007

$145,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $99.45
  • 4 Days on Market
  • MLS # : 93543048
  • Updated Date : 02/25/2021 at 10:06
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,458 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Charming Palm Harbor double wide with permanent foundation structure now available! HUGE lot with plenty of space for gardening, a pool or whatever your heart desires since there are no restrictions here! Great open and split floor plan that is perfect for entertaining! New carpet installed 2/2021 and beautiful new vinyl plank flooring installed in primary bath 2/2021. Large COVERED deck in the back allows for ample gathering space for your summer backyard BBQ's! Storage shed outside stays with home. Schedule your appointment to SEE IT 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: Fairacres

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $63k222k

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

Neighborhood: Fairacres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8031677

* 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
Newport Elementary School Primary Regular 683 48 7
Crosby Middle School Middle Regular 809 50 6
Crosby High School High Regular 1,580 98 4

Newport Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 48
7
GreatSchools Rating

Crosby Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating

Crosby High School

  • Education Level: High
  • # of students: 1,580
  • # of teachers: 98
4
GreatSchools Rating
 

$130,500$159,500$145,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$504
Property Tax -$347
Property Insurance -$126
Property Management Fees -$99
CASH FLOW
$295

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.

$145,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.94%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,175

INVESTMENT

$44,175

Down Payment
$36,250
Rehab Estimate
$5,750
Closing Costs
$2,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$504

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $36,250
Loan Amount $108,750
See What Happens When You Reinvest Cash Flow

11.67

YEARS SAVED

$26,591

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,414

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,695
$1,695
RENT COMPS ANALYSIS
  • 10318 Fairview Drive Crosby, TX 1
    • 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,458 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.94
    •  
  • 8723 Caballito Lane Baytown, TX 2
    • 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,754 Sqft ∙ Built 2013
    property image
    LEASED 12/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.97
    •  
PROPERTY LISTING DETAILS
Amber Guillotte
1.281.217.2916
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 93543048
Last Updated: 02/25/2021
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