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12303 Greencanyon Drive Houston, TX 77044

3 Beds 2 Baths 1,867 sqft Built 2005

$165,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 10, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $88.38
  • 6 Days on Market
  • MLS # : 50828589
  • Updated Date : 11/10/2020 at 10:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,867 sqft
  • Baths : 2 full
Listing Agent

Delcor International Realty

Listing Agent's Description

HURRY!!!! This home will go by quick... Price under market value. Home has tile floors throughout the home, spacious kitchen, spacious rooms, walk-in master closet and cover patio.

SEE MORE

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: 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
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$609
Property Tax -$456
Property Insurance -$153
HOA -$25
Property Management Fees -$99
CASH FLOW
$188

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.

$165,000

PROJECTED PRICE

$1,530

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$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$609

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$17,113

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,643

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5253$1,5304$1,5495$1,550
$1,550
RENT COMPS ANALYSIS
  • 12303 Greencanyon Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,867 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.82
    •  
  • 12319 Greenglen Drive Houston, TX 1
    • 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,794 Sqft ∙ Built 2004
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.84
    •  
  • 12222 Greensbrook Forest Drive Houston, TX 2
    • 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,780 Sqft ∙ Built 2002
    LEASED 01/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.86
    •  
  • 12019 Green Bluff Court Houston, TX 4
    • 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 2011 4 beds 3 baths ∙ 1,690 Sqft ∙ Built 2011
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.92
    •  
  • 12435 Greenmesa Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,721 Sqft ∙ Built 2016
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.90
    •  
PROPERTY LISTING DETAILS
Edna Corona
1.281.376.2971
Delcor International Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50828589
Last Updated: 11/10/2020
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