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11611 Tierra Palms Court Houston, TX 77034

3 Beds 3 Baths 1,570 sqft Built 2003

$197,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $125.48
  • 3 Days on Market
  • MLS # : 64877431
  • Updated Date : 01/16/2021 at 23:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,570 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Results

Listing Agent's Description

Must See...Home did not flood during Harvey!! Charming one owner well maintained home in Tierra Glen. Home is in move-in condition with great curb appeal. First floor features kitchen, dining, half bath, and large living room. Ceramic flooring throughout first first floor. Faux wood blinds throughout . Second floor has 3 bedrooms, 2 baths, game room and utility room. Garage shows well painted with ceramic tile. Beautiful porch has been added in the back exterior part of the house for those nice relaxing days. Has beautiful large back yard with added exterior storage shed. All information such as measurements, square footage and description of materials, fixtures or other components of the improvements may not be accurate and should not be relied upon. Buyer should independently verify prior to purchasing.

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: Tierra Glen South

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Tierra Glen South

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
Genoa Elementary School Primary Regular 776 50 3
Elmer G Bondy Intermediate School Middle Regular 998 59 8
Pasadena Memorial High School High Regular 3,121 177 5

Genoa Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 50
3
GreatSchools Rating

Elmer G Bondy Intermediate School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 59
8
GreatSchools Rating

Pasadena Memorial High School

  • Education Level: High
  • # of students: 3,121
  • # of teachers: 177
5
GreatSchools Rating
 

$177,300$216,700$197,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$684
Property Tax -$415
Property Insurance -$133
HOA -$23
Property Management Fees -$99
CASH FLOW
$105

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.

$197,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.6%
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$700k

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,955

INVESTMENT

$57,955

Down Payment
$49,250
Rehab Estimate
$5,750
Closing Costs
$2,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$684

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,250
Loan Amount $147,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$10,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,460

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4603$1,5004$1,5205$1,550
$1,550
RENT COMPS ANALYSIS
  • 11611 Tierra Palms Court Houston, TX 2
    • 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,570 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.93
    •  
  • 9043 Wald Road Houston, TX 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2002
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 11519 Tierra Ridge Court Houston, TX 3
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2005
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
  • 11302 Palmsprings Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2003
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.91
    •  
  • 11706 Dumas Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2006
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
PROPERTY LISTING DETAILS
Deborah Elizondo
1.832.748.7973
Re/max Results
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64877431
Last Updated: 01/16/2021
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