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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fairacres
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
$44,175
LOAN DETAILS
$504
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $36,250 |
| Loan Amount | $108,750 |
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
-
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
1.281.217.2916
Bhgre Gary Greene
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 93543048
Last Updated: 02/25/2021
