Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10806 Jaycreek Drive Houston, TX 77070

3 Beds 3 Baths 2,129 sqft Built 1984

$235,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $110.38
  • 8 Days on Market
  • MLS # : 42281298
  • Updated Date : 02/04/2021 at 14:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,129 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jla Realty

Listing Agent's Description

Good school with easy commute. Gourmet kitchen with granite countertops, tile and laminate floor. Beautiful house sits on large lot with mature trees. Very open floor plan with high ceilings, master bedroom down, 2 bedrooms with loft upstairs. Great investment opportunity! tenant occupied. Current rent is $1825/month with good rent payment history. no showing available temporary. Lease will expire by the end of March.

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: Norchester

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Norchester

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
Moore Elementary School Primary Regular 1,071 54 7
Hamilton Middle School Middle Regular 1,641 89 10
Cypress Creek High School High Regular 3,161 199 7

Moore Elementary School

  • Education Level: Primary
  • # of students: 1,071
  • # of teachers: 54
7
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,641
  • # of teachers: 89
10
GreatSchools Rating

Cypress Creek High School

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

$211,500$258,500$235,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$816
Property Tax -$522
Property Insurance -$171
HOA -$35
Property Management Fees -$99
CASH FLOW
$76

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.

$235,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.8%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,505

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,740

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7204$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 10806 Jaycreek Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,129 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.81
    •  
  • 10610 Creektree Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1970 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 1970
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.73
    •  
  • 10519 Norchester Village Drive Houston, TX 2
    • 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,982 Sqft ∙ Built 1978
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.86
    •  
  • 13622 Anderson Woods Drive Houston, TX 4
    • 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1998
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 10535 Laneview Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 1972 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 1972
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.86
    •  
PROPERTY LISTING DETAILS
Jingchao Yang
1.979.739.8881
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 42281298
Last Updated: 02/04/2021
BESbswy