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12922 Redbud Shores Ln Houston, TX 77044

3 Beds 2 Baths 1,595 sqft Built 2006

$198,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $124.70
  • 12 Days on Market
  • MLS # : 26603331
  • Updated Date : 07/13/2021 at 15:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,595 sqft
  • Baths : 2 full
Listing Agent

United Real Estate

Listing Agent's Description

This Home is in the perfect location for you to be able to grab the family and enjoy Great Lake Houston amenities. Located just minutes from Beltway 8, Hwy 59, and an easy commute to Downtown Houston. This 3 bed 2 bath home is full of great features - open kitchen w/ breakfast bar, rich laminate wood floors, formal dining or study w/chair rail, living w/gas fireplace, and covered patio. New paint through out the home and new carpet in your private master retreat with dual vanities and separate tub/shower. Make this a Summer to Remember and request your private viewing today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lakeshore

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Lakeshore

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Lakeshore Elementary School Primary Regular 954 60 6
Woodcreek Middle School Middle Regular 1,313 75 7
Summer Creek High School High Regular 2,427 148 5

Lakeshore Elementary School

  • Education Level: Primary
  • # of students: 954
  • # of teachers: 60
6
GreatSchools Rating

Woodcreek Middle School

  • Education Level: Middle
  • # of students: 1,313
  • # of teachers: 75
7
GreatSchools Rating

Summer Creek High School

  • Education Level: High
  • # of students: 2,427
  • # of teachers: 148
5
GreatSchools Rating
 

$179,010$218,790$198,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$691
Property Tax -$529
Property Insurance -$135
HOA -$71
Property Management Fees -$99
CASH FLOW
$95

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.

$198,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.0%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,459

INVESTMENT

$58,459

Down Payment
$49,725
Rehab Estimate
$5,750
Closing Costs
$2,984

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,725
Loan Amount $149,175
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$5,820

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,6503$1,7504$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 12922 Redbud Shores Ln Houston, TX 1
    • 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,595 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $1.02
    •  
  • 15830 Shoreline Terrace Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2006
    property image
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.08
    •  
  • 13026 Davenport Hills Lane Humble, TX 3
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2013
    property image
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 15823 Scenic Water Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2006
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.15
    •  
  • 15843 Scenic Water Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,676 Sqft ∙ Built 2006
    property image
    LEASED 04/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.07
    •  
PROPERTY LISTING DETAILS
Renee Blake
1.409.420.6019
United Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26603331
Last Updated: 07/13/2021
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