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1230 W 21st Street Houston, TX 77008

3 Beds 4 Baths 2,160 sqft Built 2020

$439,900

List Price

$2,780

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $203.66
  • 14 Days on Market
  • MLS # : 48158744
  • Updated Date : 12/14/2020 at 16:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,160 sqft
  • Baths : 3 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Welcome to beautiful West 21st Villas in the highly-desired Shady Acres. This is a 12-home community built by Prosperity Homes. It is conveniently located near 610 North, I-10, The Washington Corridor, Memorial Park and The Galleria. Also, it is just a few blocks away from the new HEB Heights on W23rd St and Shepherd Dr. This home features 10-ft ceilings, engineered hardwood floors, Shaker cabinets, a balcony, private driveway and a backyard. This is one home out of 12 homes in this community. This home will be completed by the end of January. 1234 W 21st St will be completed by end of February. 1230, & 1232 W 21st St will be completed by the end of March. The other 8 homes will begin construction soon and will be completed later in 2021. Come get them before they're gone!!!

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: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $99k436k

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

Neighborhood: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9692745

* 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
Sinclair Elementary School Primary Magnet 534 34 6
Hamilton Middle School Middle Magnet 1,248 64 6
Waltrip High School High Magnet 1,663 94 3

Sinclair Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 34
6
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$395,910$483,890$439,900

PURCHASE PRICE

$2,502$3,058$2,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,780
EXPENSES Loan Payment -$1,623
Property Tax -$928
Property Insurance -$173
Property Management Fees -$99
CASH FLOW
-$43

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$439,900

PROJECTED PRICE

$2,780

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.4%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,574

INVESTMENT

$118,574

Down Payment
$109,975
Rehab Estimate
$2,000
Closing Costs
$6,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,623

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $109,975
Loan Amount $329,925
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$8,079

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,780

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,770

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,750
1$2,7502$2,7803$2,8004$2,8005$2,950
$2,950
RENT COMPS ANALYSIS
  • 1230 W 21st Street Houston, TX 2
    • 3 beds 4 baths ∙ 2,160 Sqft ∙ Built 2020 3 beds 4 baths ∙ 2,160 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,780
    • $1.29
    •  
  • 1314 W 21st Street Houston, TX 1
    • 3 beds 4 baths ∙ 2,241 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,241 Sqft ∙ Built 2014
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.23
    •  
  • 812 W 22nd Street Houston, TX 3
    • 3 beds 4 baths ∙ 2,235 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,235 Sqft ∙ Built 2015
    property image
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.25
    •  
  • 933 W 24th Street Houston, TX 4
    • 3 beds 4 baths ∙ 2,202 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,202 Sqft ∙ Built 2012
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.27
    •  
  • 1039 W 17th Street Houston, TX 5
    • 3 beds 4 baths ∙ 2,130 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,130 Sqft ∙ Built 2018
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.38
    •  
PROPERTY LISTING DETAILS
Patrick Burbridge
1.713.551.6597
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 48158744
Last Updated: 12/14/2020
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