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11211 Holley Court Houston, TX 77044

3 Beds 3 Baths 2,558 sqft Built 1983

INVESTimate

$179,900

List Price

$1,510

$1,359 - $1,661

Rent Est.

$53,424

Investment Est.

$186,214  ( +3.51%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $70.33
  • 3 Days on Market
  • MLS # : 29979380
  • Updated Date : 08/25/2020 at 08:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,558 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max East

Listing Agent's Description

Nice house sitting on 1 acre with 3 bedrooms 2.5 baths approximate 2558 sqft. Has commercial gate opener, fully insulated vinyl siding with lifetime warranty, A/C & Heating 4 ton Goodman unit rebuilt 2010, wood burning fireplace, 250 gal. propane tank with hookup for stand-by generator 20,000 kw, custom built ash wood cabinets, Water Well rebuilt (2014) with new tank, electrical, piping and well house with filter system. The beauty shop is 32x16ft fully insulated with half bath, burglar alarm, A/C, own septic system (2-500 gal.tanks). The insulated aluminum storage shed is 35x8ft paneled lockable container on slab, electric wired and water. There was a 1-2 inches of water penetration in 2017 due to sand pit collapse washout on Garret road. Property is being sold As-is. Property is couple of minutes away from Beltway 8 & i-10 East frwy.

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MARKET HIGHLIGHTS

Houston Market Report
  • 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

Zip Code: 77044

ZipNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $99k238k

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

Zip Code: 77044

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691730

* 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
Garrett Elementary School Primary Regular 522 35 3
Michael R. Middle School Middle Regular 899 55 4
C.e. King High School High Regular 1,907 143 2

Garrett Elementary School

  • Education Level: Primary
  • # of students: 522
  • # of teachers: 35
3
GreatSchools Rating

Michael R. Middle School

  • Education Level: Middle
  • # of students: 899
  • # of teachers: 55
4
GreatSchools Rating

C.e. King High School

  • Education Level: High
  • # of students: 1,907
  • # of teachers: 143
2
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$161,910$197,890$179,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING
Learn how to read this

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$664
Property Tax -$379
Property Insurance -$200
Property Management Fees -$99
CASH FLOW
$168

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.

$179,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.51%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment		 $44,975
Rehab Estimate		 $5,750
Closing Costs		 $2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$15,656

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT

  • $0.59

    LIST RENT PER SQFT

  • $1,816

    COMP ESTIMATED VALUE

  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5993$1,6004$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 11211 Holley Court Houston, TX 1
    • 3 beds 3 baths ∙ 2,558 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,558 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.59
    •  
  • 9303 Deep Valley Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2002
    LEASED 06/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.71
    •  
  • 9507 Deep Valley Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2003
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 9415 Deep Valley Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2002
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 12615 Roxdale Ridge Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,244 Sqft ∙ Built 2002
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Friday Brume
1.281.639.5213
Re/max East
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 29979380
Last Updated: 08/25/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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