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12003 Sonnet Meadow Court Houston, TX 77047

4 Beds 2 Baths 1,464 sqft Built 2003

INVESTimate

$185,000

List Price

$1,420

$1,278 - $1,562

Rent Est.

$200,041  ( +8.13%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $126.37
  • 6 Days on Market
  • MLS # : 33079623
  • Updated Date : 08/21/2020 at 20:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,464 sqft
  • Baths : 2 full
Listing Agent

Re/max Top Realty

Listing Agent's Description

Lovely one story home, on large corner lot in a quiet cul-de-sac!! Freshly painted throughout, open floor plan and well maintained single story home. Home has high ceilings, new stainless steel appliances, large living area that's open to the kitchen and breakfast area. The kitchen is equipped with new stainless appliances, new cabinet hardware, stainless kitchen faucet , under mounted sink, and new granite counter tops. There's plenty of cabinets and counter top space for multiple chefs to work in the kitchen at the same time. The primary bath has double sinks, and large linen closet. Easy access to Hwy 288, Beltway 8 and 610 Loop! The home is located just minutes away from the Texas Medical Center., Downtown, University of Houston, Texas Southern University and Houston Community College Central Campus. Call today to schedule your personal showing! Hurry this one won't last long!! All room measurements are approximate! (Buyer to verify all room measurements and area schools).

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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: Cullen Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Cullen Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $9001677

* 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
Law Elementary School Primary Magnet 748 39 3
Thomas Middle School Middle Regular 476 32 3
Worthing High School High Magnet 681 38 2

Law Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 39
3
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Worthing High School

  • Education Level: High
  • # of students: 681
  • # of teachers: 38
2
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$683
Property Tax -$390
Property Insurance -$126
HOA -$20
Property Management Fees -$99
CASH FLOW
$102

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.

$185,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.13%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$12,471

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,383

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3753$1,4004$1,4205$1,475
$1,475
RENT COMPS ANALYSIS
  • 12003 Sonnet Meadow Court Houston, TX 4
    • 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,464 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.97
    •  
  • 11931 Panay Village Circle Houston, TX 1
    • 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,324 Sqft ∙ Built 2006
    LEASED 11/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.02
    •  
  • 4203 Heritage Trail Drive Houston, TX 2
    • 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,580 Sqft ∙ Built 2004
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.87
    •  
  • 11918 Panay Village Cir Circle Houston, TX 3
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2005
    LEASED 02/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.95
    •  
  • 4402 Sorsby Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.94
    •  
PROPERTY LISTING DETAILS
Lajonda Mccoy
1.832.885.4435
Re/max Top Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 33079623
Last Updated: 08/21/2020
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