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12919 Echo Landing Drive Houston, TX 77070

3 Beds 2 Baths 1,676 sqft Built 2006

$205,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $122.32
  • 7 Days on Market
  • MLS # : 33695145
  • Updated Date : 03/13/2021 at 09:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,676 sqft
  • Baths : 2 full
Listing Agent

V-pro Realtors

Listing Agent's Description

Ready for moving in. High ceiling. New paint whole house. Split floor plan. Open combine living and dining area. A convenient study area for working at home right next to master bedroom. Double sink, separate shower and garden bathtub in master bathroom. Walking closet. Bay windows for a bright 2nd bedroom at front. Open kitchen with corner breakfast area. Walking pantry. High brown cabinet. Built-in microwave. Refrigerator is included. Never flooded. Small patio at the back. Very good location - minutes to Willow-Brook malls, Methodist hospital, post office, COSTCO, SAM'S CLUB, Freeway 249, Beltway 8, FM 1960.....Good Cy-Fair ISD Schools......

SEE MORE

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: Willowbrook

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $99k230k

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

Neighborhood: Willowbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9171677

* 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
Hancock Elementary School Primary Regular 959 61 6
Bleyl Middle School Middle Regular 1,503 91 6
Cypress Creek High School High Regular 3,161 199 7

Hancock Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 61
6
GreatSchools Rating

Bleyl Middle School

  • Education Level: Middle
  • # of students: 1,503
  • # of teachers: 91
6
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,480
EXPENSES Loan Payment -$712
Property Tax -$432
Property Insurance -$140
HOA -$33
Property Management Fees -$99
CASH FLOW
$63

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.

$205,000

PROJECTED PRICE

$1,480

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.7%
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$100k$200k$300k$400k$500k$600k

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$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$6,569

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,480

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,534

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,480
1$1,4802$1,5503$1,5504$1,5805$1,650
$1,650
RENT COMPS ANALYSIS
  • 12919 Echo Landing Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,480
    • $0.88
    •  
  • 9707 Farrell Drive Houston, TX 2
    • 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,628 Sqft ∙ Built 2000
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.95
    •  
  • 9518 Glendown Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,789 Sqft ∙ Built 2004
    property image
    LEASED 05/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 9515 Farrell Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,712 Sqft ∙ Built 2000
    property image
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.92
    •  
  • 10218 Mills Pass Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 2005
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
PROPERTY LISTING DETAILS
Jade Ngoc Truong
1.281.808.5307
V-pro Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 33695145
Last Updated: 03/13/2021
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