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11123 Cedarview Lane Houston, TX 77041

3 Beds 2 Baths 1,635 sqft Built 1984

$149,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $91.68
  • 3 Days on Market
  • MLS # : 68841321
  • Updated Date : 11/28/2020 at 11:44
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,635 sqft
  • Baths : 2 full
Listing Agent

Texas Home Group, Realtors

Listing Agent's Description

Move in ready 3 bedroom 2 bath home with new updates including fresh paint and new fixtures. Large fully fenced back yard with nice covered patio area and storage shed.

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: Jersey Acres

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k253k

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

Neighborhood: Jersey Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7201677

* 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
Lee Elementary School Primary Regular 1,011 60 7
Truitt Middle School Middle Regular 1,412 94 5
Cypress Ridge High School High Regular 3,030 195 5

Lee Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 60
7
GreatSchools Rating

Truitt Middle School

  • Education Level: Middle
  • # of students: 1,412
  • # of teachers: 94
5
GreatSchools Rating

Cypress Ridge High School

  • Education Level: High
  • # of students: 3,030
  • # of teachers: 195
5
GreatSchools Rating
 

$134,910$164,890$149,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$553
Property Tax -$316
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$444

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$149,900

PROJECTED PRICE

$1,550

PROJECTED RENT

1.03%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 5.5%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

15.25

YEARS SAVED

$43,757

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,553

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6003$1,8004$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 11123 Cedarview Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 6114 Fox Wind Court Houston, TX 2
    • 3 beds 2 baths ∙ 1,913 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,913 Sqft ∙ Built 1993
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 12807 Village Way Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,837 Sqft ∙ Built 1999
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.98
    •  
  • 16222 Lakeview Drive Jersey Village, TX 4
    • 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,962 Sqft ∙ Built 1977
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 12106 Laguna Pointe Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,881 Sqft ∙ Built 1997
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.06
    •  
PROPERTY LISTING DETAILS
Kirk Hopkins
1.832.642.2847
Texas Home Group, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 68841321
Last Updated: 11/28/2020
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