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1260 Prince Street Houston, TX 77008

3 Beds 3 Baths 2,202 sqft Built 2006

$409,900

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $186.15
  • 52 Days on Market
  • MLS # : 91742479
  • Updated Date : 01/30/2021 at 09:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,202 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Charming home in the heart of the Heights with incredible walkability to Heights Hike & Bike Trail, M-K-T, Heights Mercantile and Lawrence Park! This 3 bed, 2.5 bath Heights area home has it all! Full of upgraded finishes including granite counter tops, hardwood floors, and stunning double crown molding. New carpet and fresh paint are just a few of the recent improvements made to the home. But the features don't stop there! 2-car detached garage, 1st and 2nd floor front porches, a private, fully-decked back yard... everything you're looking for in the heart of the inner loop! You won't believe your eyes when you see this beautiful home so close to everything great about Houston. Schedule your showing today!

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: Park at Prince

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $99k391k

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

Neighborhood: Park at Prince

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000210022002300Rent in $9692333

* 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
Love Elementary School Primary Regular 428 27 3
Hamilton Middle School Middle Magnet 1,248 64 6
Waltrip High School High Magnet 1,663 94 3

Love Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 27
3
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$368,910$450,890$409,900

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,424
Property Tax -$864
Property Insurance -$176
HOA -$102
Property Management Fees -$99
CASH FLOW
$45

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$409,900

PROJECTED PRICE

$2,710

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$114,374

INVESTMENT

$114,374

Down Payment
$102,475
Rehab Estimate
$5,750
Closing Costs
$6,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,424

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $102,475
Loan Amount $307,425
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$9,055

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,863

    COMP ESTIMATED VALUE
  • $1.3

    COMP AVG. RENT PER SQFT
Comps Range
$2,575
1$2,5752$2,7103$2,8004$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 1260 Prince Street Houston, TX 2
    • 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $1.23
    •  
  • 1256 Prince Street Houston, TX 1
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2005
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,575
    • $1.22
    •  
  • 1306 Dian Street Houston, TX 3
    • 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,151 Sqft ∙ Built 2013
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.30
    •  
  • 1430 Dian Street Houston, TX 4
    • 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2013
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.33
    •  
  • 1264 Prince Street Houston, TX 5
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2008
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.35
    •  
PROPERTY LISTING DETAILS
Jonathan Davis
1.713.724.1685
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91742479
Last Updated: 01/30/2021
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