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1112 W 21st Street Houston, TX 77008

3 Beds 4 Baths 2,286 sqft Built 2015

$425,000

List Price

$2,870

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $185.91
  • 6 Days on Market
  • MLS # : 60109243
  • Updated Date : 10/31/2020 at 07:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,286 sqft
  • Baths : 3 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Wonderful 3 bedroom 3.5 bath home in the heart of Shady Acres! Walkable location with private driveway! Beautiful, modern finishes throughout. The living room is light, and bright with a balcony overlooking the street. Very spacious second floor with the living room open to the dining area and kitchen - perfect for entertaining. Gourmet island kitchen has granite counters, stainless appliances, under cabinet lighting & plenty of cabinet space. Bonus dry bar adjacent to the dining room. Great floor plan with two bedrooms up and one down! Oversized master bedroom has plenty of space including two large walk-in closets. The updated master bath features granite counters, dual vanities, separate shower & soaking tub. Additional upgrades include beautiful hardwoods mostly throughout, neutral paint, and private gated courtyard. Recently upgraded back deck with pet friendly turf! Central to Downtown and Galleria with easy access to major freeways, dining, shopping, & entertainment! Must see!

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MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $99k436k

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

Neighborhood: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9692745

* 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
Sinclair Elementary School Primary Magnet 534 34 6
Hamilton Middle School Middle Magnet 1,248 64 6
Waltrip High School High Magnet 1,663 94 3

Sinclair Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 34
6
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,583$3,157$2,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,870
EXPENSES Loan Payment -$1,568
Property Tax -$896
Property Insurance -$182
Property Management Fees -$99
CASH FLOW
$125

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.

$425,000

PROJECTED PRICE

$2,870

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$17,585

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,870

    LIST RENT
  • $1.26

    LIST RENT PER SQFT
  • $2,915

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,7003$2,8704$3,0005$3,000
$3,000
RENT COMPS ANALYSIS
  • 1112 W 21st Street Houston, TX 3
    • 3 beds 4 baths ∙ 2,286 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,286 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,870
    • $1.26
    •  
  • 1223 W 19th Street Houston, TX 1
    • 3 beds 4 baths ∙ 2,123 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,123 Sqft ∙ Built 2017
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.27
    •  
  • 1025 W 21st Street Houston, TX 2
    • 3 beds 4 baths ∙ 2,210 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,210 Sqft ∙ Built 2012
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.22
    •  
  • 1031 W 21st St, Unit C Houston, TX 4
    • 3 beds 4 baths ∙ 2,293 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,293 Sqft ∙ Built 2013
    LEASED 05/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.31
    •  
  • 1031 W 21st Street Houston, TX 5
    • 4 beds 4 baths ∙ 2,316 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,316 Sqft ∙ Built 2013
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.30
    •  
PROPERTY LISTING DETAILS
Amanda Ruchti
1.832.524.7637
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 60109243
Last Updated: 10/31/2020
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