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10626 Mist Lane Houston, TX 77070

4 Beds 3 Baths 2,998 sqft Built 1993

$260,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
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

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: 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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

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

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

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

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
$1,675
1$1,6752$1,7953$1,8504$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 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
Krystal Thomas
1.281.975.8040
Central Metro Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 14457218
Last Updated: 02/03/2021
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