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11902 Fossil Rock Lane Houston, TX 77034

3 Beds 3 Baths 1,784 sqft Built 2001

$213,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $119.90
  • 2 Days on Market
  • MLS # : 92147681
  • Updated Date : 01/30/2021 at 17:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,784 sqft
  • Baths : 2 full , 1 half
Listing Agent

Prime Realty Group

Listing Agent's Description

Really nice house, well maintained. large formals and family den. Open concept with high ceilings, plenty of room for your family comfort. make an appointment today.

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

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $93k222k

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

Neighborhood: Tierra Glen

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9131677

* 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
 

$192,510$235,290$213,900

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 -$743
Property Tax -$451
Property Insurance -$148
HOA -$23
Property Management Fees -$99
CASH FLOW
$86

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.

$213,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,434

INVESTMENT

$62,434

Down Payment
$53,475
Rehab Estimate
$5,750
Closing Costs
$3,209

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$743

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,475
Loan Amount $160,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,294

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
  • $0.87

    LIST RENT PER SQFT
  • $1,570

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 11902 Fossil Rock Lane Houston, TX 4
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 9043 Wald Road Houston, TX 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2002
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 11842 Cedar Mesa Drive Houston, TX 2
    • 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2003 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2003
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 11706 Dumas Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2006
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 11702 Kewalo Basin Lane Houston, TX 5
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Javier Olmos
1.281.703.9147
Prime Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 92147681
Last Updated: 01/30/2021
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