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1152 W 17th Street Houston, TX 77008

3 Beds 4 Baths 1,878 sqft Built 2014

$389,999

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $207.67
  • 3 Days on Market
  • MLS # : 82527595
  • Updated Date : 01/15/2021 at 18:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,878 sqft
  • Baths : 3 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This GORGEOUS 3 story HEIGHTS HOME is in desirable Shady Acres. Watch the Virtual Tour attached!!! Elegant open floor plan with modern craftsman-style. Floorplan has one Room on 1st floor, can be used as guestroom/office (Flex room). 2nd floor has a huge open living area, kitchen/dining. Kitchen is a Chefs or mommies "dream kitchen". Huge island, Granite counter tops,42” maple cabinets and stainless steel appliances. The living area has engineered hardwood floors and recessed lighting throughout. Stunning Wrought Iron Stair Railings. 3rd floor has a stately master suite, laundry room and additional bedroom. Master bath has two sinks, tiled separate shower and a soaker tub. Spacious backyard with privacy fence. Recently installed Highly Efficient A/C unit (2020) also has an Air Scrubber (UV light) purifying the homes air. This wonderful home is walking distance to restaurants, bars in the heart of The Heights. AND is minutes from downtown, The Galleria and Memorial. HOME 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: 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
Black Middle School Middle Regular 907 50 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

Black Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 50
6
GreatSchools Rating

Waltrip High School

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

$350,999$428,999$389,999

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,355
Property Tax -$822
Property Insurance -$154
HOA -$83
Property Management Fees -$99
CASH FLOW
$117

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.

$389,999

PROJECTED PRICE

$2,630

PROJECTED RENT

0.67%

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,100

INVESTMENT

$109,100

Down Payment
$97,500
Rehab Estimate
$5,750
Closing Costs
$5,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,355

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,500
Loan Amount $292,499
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$12,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,493

    COMP ESTIMATED VALUE
  • $1.33

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5003$2,5504$2,6005$2,630
$2,630
RENT COMPS ANALYSIS
  • 1152 W 17th Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,878 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.40
    •  
  • 1510 Bevis Street Houston, TX 1
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2004
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.44
    •  
  • 1166 W 17th Street Houston, TX 2
    • 3 beds 4 baths ∙ 1,922 Sqft ∙ Built 2014 3 beds 4 baths ∙ 1,922 Sqft ∙ Built 2014
    LEASED 03/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.30
    •  
  • 2010 Beall Street Houston, TX 3
    • 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,061 Sqft ∙ Built 2013
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.24
    •  
  • 1506 Bevis Street Houston, TX 4
    • 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,948 Sqft ∙ Built 2004
    LEASED 01/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.33
    •  
PROPERTY LISTING DETAILS
Emmanuel Thompson
1.210.788.0477
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82527595
Last Updated: 01/15/2021
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