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10618 Mist Lane Houston, TX 77070

4 Beds 3 Baths 2,684 sqft Built 1994

$236,500

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $88.11
  • 3 Days on Market
  • MLS # : 92584020
  • Updated Date : 12/19/2020 at 15:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,684 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nexthome Realty Center

Listing Agent's Description

Beautiful Royce Home in popular Boardwalk subdivision. Features include formal living, formal dining, large den with fireplace that opens to spacious island kitchen with tile floor and breakfast room, wood plank floors and tile throughout, no carpet, gameroom up. Oversized master suite w/high ceilings and sitting area, walk in closet, garden tub and separate shower. Nice size secondary bedrooms, big backyard with concrete patio and professional landscaping. Schedule your appointment today!DID NOT FLOOD AND NOT IN A FLOOD ZONE.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Boardwalk

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Boardwalk

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Matzke Elementary School Primary Regular 984 57 7
Bleyl Middle School Middle Regular 1,503 91 6
Cypress Creek High School High Regular 3,161 199 7

Matzke Elementary School

  • Education Level: Primary
  • # of students: 984
  • # of teachers: 57
7
GreatSchools Rating

Bleyl Middle School

  • Education Level: Middle
  • # of students: 1,503
  • # of teachers: 91
6
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

$212,850$260,150$236,500

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$873
Property Tax -$589
Property Insurance -$209
HOA -$35
Property Management Fees -$99
CASH FLOW
$75

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.

$236,500

PROJECTED PRICE

$1,880

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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

PROJECTED ANNUAL CASH FLOW

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,423

INVESTMENT

$68,423

Down Payment
$59,125
Rehab Estimate
$5,750
Closing Costs
$3,548

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$873

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,125
Loan Amount $177,375
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$6,918

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,879

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,749
1$1,7492$1,7853$1,8504$1,8505$1,880
$1,880
RENT COMPS ANALYSIS
  • 10618 Mist Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,684 Sqft ∙ Built 1994
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.70
    •  
  • 12626 Timbermeadow Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1992 4 beds 3 baths ∙ 2,500 Sqft ∙ Built 1992
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,749
    • $0.70
    •  
  • 11219 Crooked Pine Drive Cypress, TX 2
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 1983
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.69
    •  
  • 10406 Iris Lake Court Houston, TX 3
    • 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,717 Sqft ∙ Built 2006
    property image
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.68
    •  
  • 10334 Mills Run Drive Houston, TX 4
    • 4 beds 4 baths ∙ 2,538 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,538 Sqft ∙ Built 2005
    property image
    LEASED 03/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
PROPERTY LISTING DETAILS
Rosario Moran
1.832.643.7371
Nexthome Realty Center
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 92584020
Last Updated: 12/19/2020
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