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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $86.72
- 5 Days on Market
- MLS # : 14457218
- Updated Date : 02/03/2021 at 11:31
CONSTRUCTION
- Beds : 4
- Floor Size : 2,998 sqft
- Baths : 2 full , 1 half
Listing Agent
Central Metro Realty
Listing Agent's Description
Beautiful home on a large corner lot! This home has 4 Bedrooms, 2 Full Bathrooms, and a Half Bathroom on the first floor for your guests. Huge Master Bedroom with enough space for a seating area, ensuite Master Bath with his/her vanity, walk-in shower and separate deep soaking tub with whirlpool jets. There is a Formal Dining Room and Formal Living Room perfect for family gathering and entertaining. The Kitchen is open to the Family Den area, an attached large Breakfast Nook with a bay window, has updated light fixtures, and modern stainless steel appliances, all included with the home. The Family Den area has a fireplace. The home has a spacious Laundry Room; Washer and Dryer included! Huge backyard with deck/patio for relaxing on the weekends with family or entertaining.
SEE MORE
- 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: Boardwalk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Boardwalk
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,950 |
| EXPENSES | Loan Payment | -$903 |
| Property Tax | -$648 | |
| Property Insurance | -$230 | |
| HOA | -$35 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$35
|
||
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.
$260,000
PROJECTED PRICE
$1,950
PROJECTED RENT
0.75%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$74,650
LOAN DETAILS
$903
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $65,000 |
| Loan Amount | $195,000 |
2.25
YEARS SAVED
$3,939
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,950
LIST RENT -
$0.65
LIST RENT PER SQFT
-
$1,994
COMP ESTIMATED VALUE -
$0.66
COMP AVG. RENT PER SQFT
Comps Range
-
10626 Mist Lane Houston, TX 5
- 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,998 Sqft ∙ Built 1993
- Rent
- Rent Per SQFT
- $1,950
- $0.65
-
10439 Falling Rapids Court Houston, TX 1
- 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 2006
LEASED 09/05/19- Rent
- Rent Per SQFT
- $1,675
- $0.61
-
10611 Alderford Court Houston, TX 2
- 3 beds 3 baths ∙ 2,729 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,729 Sqft ∙ Built 1991
LEASED 01/04/21- Rent
- Rent Per SQFT
- $1,795
- $0.66
-
12319 Mill Ridge Drive Cypress, TX 3
- 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,812 Sqft ∙ Built 1984
LEASED 07/06/20- Rent
- Rent Per SQFT
- $1,850
- $0.66
-
12427 Millway Houston, TX 4
- 3 beds 3 baths ∙ 2,657 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,657 Sqft ∙ Built 1989
LEASED 09/21/19- Rent
- Rent Per SQFT
- $1,950
- $0.73
PROPERTY LISTING DETAILS
1.281.975.8040
Central Metro Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 14457218
Last Updated: 02/03/2021
