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12426 Grossmount Drive Houston, TX 77066

3 Beds 2 Baths 1,435 sqft Built 2005

$169,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $117.77
  • 2 Days on Market
  • MLS # : 21605663
  • Updated Date : 12/12/2020 at 21:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,435 sqft
  • Baths : 2 full
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

COMPLETELY UPDATED One story house W/3 bdrms, 2 full bath and 2 attached garage. Home features NEW PAINT Interior and Exterior. NEW Window blinds, lighting fixtures. Wood floor in living room, front entry. Tile floor in kitchen and all bathrooms. Spacious formal living W/high ceiling. Over-sized master bdrm W/Huge walk-in closet. NO NEIGHBOR behind the house. Washer, dryer and Fridge STAY! Easy access to HWY 249 and BWY 8. Zoned to Klein school district.

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: Timber Meadow

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Timber Meadow

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Kaiser Elementary School Primary Regular 781 67 4
Wunderlich Intermediate School Middle Regular 1,544 110 5
Klein Forest High School High Regular 3,589 258 3

Kaiser Elementary School

  • Education Level: Primary
  • # of students: 781
  • # of teachers: 67
4
GreatSchools Rating

Wunderlich Intermediate School

  • Education Level: Middle
  • # of students: 1,544
  • # of teachers: 110
5
GreatSchools Rating

Klein Forest High School

  • Education Level: High
  • # of students: 3,589
  • # of teachers: 258
3
GreatSchools Rating
 

$152,100$185,900$169,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$624
Property Tax -$356
Property Insurance -$124
Property Management Fees -$99
CASH FLOW
$137

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.

$169,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.1%
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$50,535

INVESTMENT

$50,535

Down Payment
$42,250
Rehab Estimate
$5,750
Closing Costs
$2,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$624

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,250
Loan Amount $126,750
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$15,457

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,356

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3403$1,3504$1,3755$1,385
$1,385
RENT COMPS ANALYSIS
  • 12426 Grossmount Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.93
    •  
  • 13211 Gatton Park Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,435 Sqft ∙ Built 2005
    LEASED 01/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.91
    •  
  • 13103 Gatton Park Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,373 Sqft ∙ Built 2005
    LEASED 08/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.98
    •  
  • 12426 Tracelynn Lane Houston, TX 4
    • 4 beds 3 baths ∙ 1,553 Sqft ∙ Built 1985 4 beds 3 baths ∙ 1,553 Sqft ∙ Built 1985
    LEASED 12/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.89
    •  
  • 12538 Sterlingstone Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,390 Sqft ∙ Built 2006
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,385
    • $1.00
    •  
PROPERTY LISTING DETAILS
Shannon Gao
1.281.690.5900
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 21605663
Last Updated: 12/12/2020
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