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11414 Chelsea Walk Drive Houston, TX 77066

3 Beds 2 Baths 1,745 sqft Built 1984

INVESTimate

$169,999

List Price

$1,480

$1,332 - $1,628

Rent Est.

$182,035  ( +7.08%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $97.42
  • 5 Days on Market
  • MLS # : 12536310
  • Updated Date : 08/22/2020 at 18:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,745 sqft
  • Baths : 2 full
Listing Agent

Las Lomas Realty Elite

Listing Agent's Description

This is the perfect HOME you were looking for, LOTS of UPGRADES, Recent Exterior paint, Recent Kitchen Stainless Steel Appliances, Granite countertops in the Kitchen and both bathrooms, custom Kitchen Cabinets, Custom Master Shower, Both Bathrooms Remodeled, Custom Patio in the back yard. Per Homeowner HAS NEVER FLOODED.

SEE MORE

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: Greenfield Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Greenfield Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Conley Elementary School Primary Regular 872 50 5
Plummer Middle School Middle Regular 962 61 4
Davis Senior High School High Regular 2,542 149 2

Conley Elementary School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 50
5
GreatSchools Rating

Plummer Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 61
4
GreatSchools Rating

Davis Senior High School

  • Education Level: High
  • # of students: 2,542
  • # of teachers: 149
2
GreatSchools Rating
 

$152,999$186,999$169,999

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

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$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$627
Property Tax -$438
Property Insurance -$145
HOA -$38
Property Management Fees -$99
CASH FLOW
$134

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.

$169,999

PROJECTED PRICE

$1,480

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.08%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,499
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$12,753

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,475

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3793$1,4004$1,4755$1,480
$1,480
RENT COMPS ANALYSIS
  • 11414 Chelsea Walk Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.85
    •  
  • 11426 Bethnal Green Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1982
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.81
    •  
  • 3619 Hombly Road Houston, TX 2
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1983
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,379
    • $0.83
    •  
  • 3226 Bolton Gardens Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 1982
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.85
    •  
  • 11403 Milners Point Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,662 Sqft ∙ Built 1983
    property image
    LEASED 01/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.89
    •  
PROPERTY LISTING DETAILS
Luis Aguilar
1.281.450.3988
Las Lomas Realty Elite
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 12536310
Last Updated: 08/22/2020
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