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12531 Aarons Way Drive Houston, TX 77066

4 Beds 3 Baths 2,344 sqft Built 2006

$197,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $84.04
  • 27 Days on Market
  • MLS # : 94175103
  • Updated Date : 11/02/2020 at 08:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,344 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Universal

Listing Agent's Description

Don't miss this one! Lovely wide open four bedroom two and a half bath home awaits you. Formal living and dining rooms greet you as you enter your new home. Large family room opens to a classic eat-in kitchen that is complete with gas cooking and walk-in pantry. 1/2 bath located on the first floor. Upstairs you will find an enormous master bedroom with a separate space that can be used as a sitting area, home office, nursery, or any other future need you might have. Large master bath with vanity area. Three secondary bedrooms large enough to accommodate your family's growing needs. No lack of storage in this house. Tile and carpet throughout this spacious home. From the den you can exit the sliding glass doors to your oversized backyard where you can throw the ball, plant a garden, sit and relax, or have friends over for a BBQ. Walking distance to Kaiser Elementary, Wunderlich Intermediate, Klein Forest High School. Make an appointment today to make this house your new home. Hurry!

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
 

$177,300$216,700$197,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$727
Property Tax -$415
Property Insurance -$186
HOA -$33
Property Management Fees -$99
CASH FLOW
$110

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.

$197,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.80%

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-$2.0k$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,955

INVESTMENT

$57,955

Down Payment
$49,250
Rehab Estimate
$5,750
Closing Costs
$2,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$727

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,250
Loan Amount $147,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$12,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5853$1,6004$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 12531 Aarons Way Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,344 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.67
    •  
  • 4238 Heritagestone Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,370 Sqft ∙ Built 2006
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $0.67
    •  
  • 13246 Gatton Park Drive Houston, TX 3
    • 5 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,440 Sqft ∙ Built 2005
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.66
    •  
  • 12403 Heritage Grove Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 2004
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 5351 Champions Way Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,398 Sqft ∙ Built 2002
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.75
    •  
PROPERTY LISTING DETAILS
Collette King
1.713.206.7653
Re/max Universal
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 94175103
Last Updated: 11/02/2020
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