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10807 Moorcreek Drive Houston, TX 77070

4 Beds 3 Baths 2,489 sqft Built 1996

$245,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $98.43
  • 3 Days on Market
  • MLS # : 22000808
  • Updated Date : 03/19/2021 at 19:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,489 sqft
  • Baths : 2 full , 1 half
Listing Agent

Roreco

Listing Agent's Description

Look no further! Beautiful exterior, large back yard with deck and no back neighbors. Roof is about 4-5 years old. Needs a little TLC. Home did flood durig Harvey and was immediately remediated. Home also flooded during tax day flood. Schedule your appt today!

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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$851
Property Tax -$544
Property Insurance -$195
HOA -$46
Property Management Fees -$99
CASH FLOW
$74

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.

$245,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.74%

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.17

YEARS SAVED

$6,233

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,929

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,810
1$1,8102$1,8503$1,8504$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 10807 Moorcreek Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,489 Sqft ∙ Built 1996
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.73
    •  
  • 13503 Anderwoods Court Houston, TX 2
    • 4 beds 2 baths ∙ 2,542 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,542 Sqft ∙ Built 2000
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.73
    •  
  • 13622 Anderson Woods Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,249 Sqft ∙ Built 1998
    property image
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 14126 Saddlebend Drive Houston, TX 4
    • 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,535 Sqft ∙ Built 1976
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.75
    •  
  • 11218 Timbertree Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,504 Sqft ∙ Built 2000
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
PROPERTY LISTING DETAILS
Bella Garza
1.713.295.1161
Roreco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22000808
Last Updated: 03/19/2021
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