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11939 Greensbrook Forest Drive Houston, TX 77044

3 Beds 2 Baths 1,080 sqft Built 2003

$119,000

List Price

$1,110

$999 - $1.2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $110.19
  • 3 Days on Market
  • MLS # : 10856966
  • Updated Date : 02/05/2021 at 15:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,080 sqft
  • Baths : 2 full
Listing Agent

New Home Guide Texas

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$107,100$130,900$119,000

PURCHASE PRICE

$999$1,221$1,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,110
EXPENSES Loan Payment -$413
Property Tax -$329
Property Insurance -$100
Property Management Fees -$99
CASH FLOW
$169

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.

$119,000

PROJECTED PRICE

$1,110

PROJECTED RENT

0.93%

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

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$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,285

INVESTMENT

$37,285

Down Payment
$29,750
Rehab Estimate
$5,750
Closing Costs
$1,785

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$413

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $29,750
Loan Amount $89,250
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$13,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,110

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,112

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,098
1$1,0982$1,0993$1,1104$1,2005$1,253
$1,253
RENT COMPS ANALYSIS
  • 11939 Greensbrook Forest Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,110
    • $1.03
    •  
  • 11934 Greensbrook Forest Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 2003
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,098
    • $1.02
    •  
  • 11942 Greensbrook Forest Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 2003
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,099
    • $0.93
    •  
  • 11922 Greensbrook Forest Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,188 Sqft ∙ Built 2003
    property image
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.01
    •  
  • 11943 Greensbrook Forest Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,080 Sqft ∙ Built 2003
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,253
    • $1.16
    •  
PROPERTY LISTING DETAILS
Devon Hackle
1.281.924.6907
New Home Guide Texas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10856966
Last Updated: 02/05/2021
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