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12515 Ashford River Houston, TX 77072

4 Beds 3 Baths 1,488 sqft Built 2005

$175,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $117.61
  • 7 Days on Market
  • MLS # : 24916342
  • Updated Date : 02/23/2021 at 16:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,488 sqft
  • Baths : 2 full , 1 half
Listing Agent

Champions Real Estate Group

Listing Agent's Description

INVESTORS ONLY. TENANT OCCUPIED AND SELLING TO INVESTORS ONLY THAT CAN ACQUIRE THE CURRENT TENANT. MONTH TO MONTH LEASE. LEASED BELOW MARKET AT $1,250 PER MONTH. NO SHOWINGS AT THIS TIME. Charming 2 story home located in Alief's desirable Ashford Garden subdivision. Adorable front facade with stone accents & black shutters. Enter into the spacious but cozy living area with vinyl tile flooring for easy upkeep leading into the open concept kitchen. Black appliances, bar seating & an abundant amount of cabinet space! Kitchen is designed w/timeless neutral color tones! The dining area is open to the kitchen and living room. All 4 bedrooms & both full baths are located upstairs, plus utility room for washer/dryer. Primary suite features a private spa-like bath. Spacious secondary bedrooms with vinyl tile flooring and great closet space. Huge fully fenced backyard! **Stable long term tenant in place.

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: Ashford Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Ashford Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8581677

* 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
Liestman Elementary School Primary Regular 896 63 3
Killough Middle School Middle Regular 1,034 72 4
Hastings High School High Regular 3,890 260 4

Liestman Elementary School

  • Education Level: Primary
  • # of students: 896
  • # of teachers: 63
3
GreatSchools Rating

Killough Middle School

  • Education Level: Middle
  • # of students: 1,034
  • # of teachers: 72
4
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$608
Property Tax -$369
Property Insurance -$128
HOA -$23
Property Management Fees -$99
CASH FLOW
$233

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.

$175,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.3%
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$700k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

9

YEARS SAVED

$21,380

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,436

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4603$1,4904$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 12515 Ashford River Houston, TX 2
    • 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.98
    •  
  • 12666 Ashford River Houston, TX 1
    • 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,488 Sqft ∙ Built 2005
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 12535 Ashford River Houston, TX 3
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 2007
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.99
    •  
  • 12523 Prosperity River Court Houston, TX 4
    • 4 beds 3 baths ∙ 1,537 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,537 Sqft ∙ Built 2006
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.98
    •  
  • 12530 Jade Treasure Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,680 Sqft ∙ Built 2006
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Evan Compean
1.281.901.0140
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 24916342
Last Updated: 02/23/2021
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