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11950 Ramla Place Trail Houston, TX 77089

3 Beds 3 Baths 1,575 sqft Built 2007

$189,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $120.57
  • 3 Days on Market
  • MLS # : 6598699
  • Updated Date : 03/12/2021 at 18:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,575 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nb Elite Realty

Listing Agent's Description

Two Story BEAUTY - In "VILLAGE OF COLLEGE PLACE" Conveniently located and easy access to I-45 and NASA This is a LOVELY home EXTRA LARGE kitchen/with some NEW items, NEW carpet, NEW Lam.Wood Floors, NEW paint, added some NEW lighting, and MUCH MUCH more. Come see this one for yourself!! Zoned to HIGHLY acclaimned "Clear Creek ISD" This one is PRICED to MOVE!!! A whole LOT of house for the $$ Call today!!

SEE MORE

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: Village of College Place

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $84k222k

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

Neighborhood: Village of College Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9051677

* 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
North Pointe Elementary School Primary Regular 823 46 7
Westbrook Intermediate School Middle Magnet 1,069 61 10
Clear Brook High School High Regular 2,335 153 7

North Pointe Elementary School

  • Education Level: Primary
  • # of students: 823
  • # of teachers: 46
7
GreatSchools Rating

Westbrook Intermediate School

  • Education Level: Middle
  • # of students: 1,069
  • # of teachers: 61
10
GreatSchools Rating

Clear Brook High School

  • Education Level: High
  • # of students: 2,335
  • # of teachers: 153
7
GreatSchools Rating
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$660
Property Tax -$476
Property Insurance -$134
HOA -$29
Property Management Fees -$99
CASH FLOW
$113

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.

$189,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$8,609

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,551

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,6253$1,6504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 11950 Ramla Place Trail Houston, TX 1
    • 3 beds 3 baths ∙ 1,575 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,575 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.96
    •  
  • 12410 Serene Elm Street Houston, TX 2
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 2009
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.03
    •  
  • 12207 Tawny Court Houston, TX 3
    • 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,605 Sqft ∙ Built 2008
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 12503 Blue Spruce Vale Wa Houston, TX 4
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2005
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 12338 Carmel Dale Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2006
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Nikola Knezevic
1.281.727.0206
Nb Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6598699
Last Updated: 03/12/2021
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