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12315 Kings Chase Drive Houston, TX 77044

4 Beds 2 Baths 1,441 sqft Built 1980

$129,999

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $90.21
  • 9 Days on Market
  • MLS # : 47531198
  • Updated Date : 01/05/2021 at 07:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,441 sqft
  • Baths : 2 full
Listing Agent

Pinnacle Real Estate Holding

Listing Agent's Description

4 Bedrooms 2 Bath 2 Car Garage. 1,441 sq ft. House is in good and upgraded condition but needs TLC, build your sweat equity. Sold AS-IS - Seller will make no repairs. Buyers & Agents to verify room dimensions. Sellers do not have a survey - buyer to pay if needed. Low ball offers will not be responded to.

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: Kingslake Forest

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k222k

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

Neighborhood: Kingslake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7451677

* 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
 

$116,999$142,999$129,999

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$452
Property Tax -$407
Property Insurance -$125
HOA -$28
Property Management Fees -$99
CASH FLOW
$280

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.

$129,999

PROJECTED PRICE

$1,390

PROJECTED RENT

1.07%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.5%
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

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$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$40,200

INVESTMENT

$40,200

Down Payment
$32,500
Rehab Estimate
$5,750
Closing Costs
$1,950

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$452

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $32,500
Loan Amount $97,499
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$22,589

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,207

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,095
1$1,0952$1,2003$1,2124$1,3505$1,390
$1,390
RENT COMPS ANALYSIS
  • 12315 Kings Chase Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,441 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,441 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $0.96
    •  
  • 11919 Greenglen Houston, TX 1
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 1983
    property image
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,095
    • $0.74
    •  
  • 11915 Greenspark Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,180 Sqft ∙ Built 2000
    property image
    LEASED 07/11/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.02
    •  
  • 11947 Greenglen Drive Houston, TX 3
    • 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,553 Sqft ∙ Built 1983
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,212
    • $0.78
    •  
  • 14014 Forest Knoll Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1961 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 1961
    property image
    LEASED 02/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
PROPERTY LISTING DETAILS
Barbie Dash
1.832.971.6870
Pinnacle Real Estate Holding
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47531198
Last Updated: 01/05/2021
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