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12507 Roxdale Ridge Drive Houston, TX 77044

3 Beds 2 Baths 1,327 sqft Built 2002

$179,900

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $135.57
  • 6 Days on Market
  • MLS # : 48255970
  • Updated Date : 11/24/2020 at 15:39
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,327 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Perfect family home with 3/2/1 in North Channel (Houston area) All bedrooms are up stairs with 2 baths. Large fenced in back yard big enough for a pool. Great neighborhood. Priced to sell. Sellers can be be out as soon as buyers financing is ready to close but if this is a cash deal can close immediately.

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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: Stonefield Manor

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Stonefield Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8411677

* 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
Monahan Elementary School Primary Regular 500 33 4
C.e. King Middle School Middle Regular 924 60 3
C.e. King High School High Regular 1,907 143 2

Monahan Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 33
4
GreatSchools Rating

C.e. King Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 60
3
GreatSchools Rating

C.e. King High School

  • Education Level: High
  • # of students: 1,907
  • # of teachers: 143
2
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$664
Property Tax -$379
Property Insurance -$117
HOA -$26
Property Management Fees -$99
CASH FLOW
$75

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.

$179,900

PROJECTED PRICE

$1,360

PROJECTED RENT

0.76%

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$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$10,213

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,380

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,3603$1,4504$1,4755$1,500
$1,500
RENT COMPS ANALYSIS
  • 12507 Roxdale Ridge Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,327 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.02
    •  
  • 12526 Garden Gale Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,200 Sqft ∙ Built 2006
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.12
    •  
  • 9502 Fillmont Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,425 Sqft ∙ Built 2004
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.02
    •  
  • 12626 Roxdale Ridge Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,444 Sqft ∙ Built 2002
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.02
    •  
  • 9419 Fillmont Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2002
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Carol Morgan
1.281.300.3998
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 48255970
Last Updated: 11/24/2020
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