Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

11918 Greenspark Lane Houston, TX 77044

4 Beds 2 Baths 1,354 sqft Built 2002

$140,000

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

January 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $103.40
  • 5 Days on Market
  • MLS # : 68247964
  • Updated Date : 01/08/2021 at 16:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,354 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

4-2-1 Starter home in an excellent location just minutes away from Beltway 8, shopping center and restaurants. Home has been recently updated. Schedule your showing today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Greensbrook

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Greensbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8311677

* 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
 

$126,000$154,000$140,000

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$486
Property Tax -$373
Property Insurance -$119
HOA -$33
Property Management Fees -$99
CASH FLOW
$159

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.

$140,000

PROJECTED PRICE

$1,270

PROJECTED RENT

0.91%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,850

INVESTMENT

$42,850

Down Payment
$35,000
Rehab Estimate
$5,750
Closing Costs
$2,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$486

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $35,000
Loan Amount $105,000
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$12,313

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,252

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,1953$1,2704$1,3335$1,350
$1,350
RENT COMPS ANALYSIS
  • 11918 Greenspark Lane Houston, TX 3
    • 4 beds 2 baths ∙ 1,354 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,354 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.94
    •  
  • 11906 Greenrock Lane Houston, TX 1
    • 4 beds 2 baths ∙ 1,188 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,188 Sqft ∙ Built 2003
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.93
    •  
  • 11819 Greenspark Lane Houston, TX 2
    • 4 beds 2 baths ∙ 1,386 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,386 Sqft ∙ Built 2002
    property image
    LEASED 01/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.86
    •  
  • 12011 Greensbrook Forest Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2001
    property image
    LEASED 03/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,333
    • $0.91
    •  
  • 11950 Greenglen Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,350 Sqft ∙ Built 2003
    property image
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.00
    •  
PROPERTY LISTING DETAILS
Beckie Martinez
1.832.860.8644
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 #: 68247964
Last Updated: 01/08/2021
BESbswy