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12114 Parade Park Place Houston, TX 77047

4 Beds 3 Baths 2,410 sqft Built 2017

$285,000

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $118.26
  • 7 Days on Market
  • MLS # : 72531721
  • Updated Date : 02/02/2021 at 12:42
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,410 sqft
  • Baths : 2 full , 1 half
Listing Agent

Floravista Realty, Llc

Listing Agent's Description

Stunning two-story home in the popular City Park neighborhood! Located just south of Houston’s Central Business District, this is the ideal opportunity to improve your quality of life without increasing your daily commute. The light and bright open floor plan is just waiting for your personal touch with neutral finishes and tile flooring to perfectly complement any decor. Mix both meals and memories in the spacious kitchen equipped with stainless steel appliances and a large island with a breakfast bar. The loft offers extra flex space to suit any of your household’s needs as an additional living space, home office, or whatever else you require to live comfortably! Retreat to the spacious master bedroom complete with a large walk-in closet and en-suite bath providing everything you need to relax and recharge after a long day. The privacy fenced backyard, community park, and walking paths offer plenty of ways for your entire family to enjoy some fun in the sun. Schedule a showing 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: Central Southwest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $71k222k

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

Neighborhood: Central Southwest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8881677

* 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
Almeda Elementary School Primary Regular 819 41 3
Dowling Middle School Middle Magnet 1,200 67 2
Worthing High School High Magnet 681 38 2

Almeda Elementary School

  • Education Level: Primary
  • # of students: 819
  • # of teachers: 41
3
GreatSchools Rating

Dowling Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 67
2
GreatSchools Rating

Worthing High School

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

$256,500$313,500$285,000

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$990
Property Tax -$678
Property Insurance -$190
HOA -$42
Property Management Fees -$99
CASH FLOW
$61

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.

$285,000

PROJECTED PRICE

$2,060

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$990

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$8,177

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $2,085

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$2,0604$2,1005$2,350
$2,350
RENT COMPS ANALYSIS
  • 12114 Parade Park Place Houston, TX 3
    • 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,410 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.85
    •  
  • 12703 Boris Cove Trail Houston, TX 1
    • 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,220 Sqft ∙ Built 2008
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 11838 Chanteloup Drive Houston, TX 2
    • 5 beds 4 baths ∙ 2,236 Sqft ∙ Built 2005 5 beds 4 baths ∙ 2,236 Sqft ∙ Built 2005
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 12218 City Trek Lane Houston, TX 4
    • 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,249 Sqft ∙ Built 2018
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
  • 12311 Lake Portal Houston, TX 5
    • 4 beds 4 baths ∙ 2,540 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,540 Sqft ∙ Built 2017
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.93
    •  
PROPERTY LISTING DETAILS
Lucy Knox
1.800.331.0646
Floravista Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 72531721
Last Updated: 02/02/2021
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