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12927 Almeda Crossing Court Houston, TX 77048

3 Beds 2 Baths 1,380 sqft Built 2017

$169,999

List Price

$1,390

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $123.19
  • 6 Days on Market
  • MLS # : 81891571
  • Updated Date : 11/28/2020 at 14:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Womack Development

Listing Agent's Description

Beautifully kept home within a cul-de-sac built in 2017 with 3 bedrroms and 2 full baths and a very open floorplan for great entertainment . This home is located close tot he medical center with close access to 1-45 south. A investors dream home with a tenant still living in the home until April 2021 (on time payments ). A start up home !

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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: South Acres - Crestmont Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $65k222k

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

Neighborhood: South Acres - Crestmont Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8621677

* 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
Frost Elementary School Primary Regular 648 32 5
Thomas Middle School Middle Regular 476 32 3
Sterling High School High Magnet 1,060 60 2

Frost Elementary School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 32
5
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Sterling High School

  • Education Level: High
  • # of students: 1,060
  • # of teachers: 60
2
GreatSchools Rating
 

$152,999$186,999$169,999

PURCHASE PRICE

$1,251$1,529$1,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,390
EXPENSES Loan Payment -$627
Property Tax -$433
Property Insurance -$120
HOA -$33
Property Management Fees -$99
CASH FLOW
$77

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.

$169,999

PROJECTED PRICE

$1,390

PROJECTED RENT

0.82%

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

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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,499
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$8,663

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,390

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,428

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,390
1$1,3902$1,4503$1,4754$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 12927 Almeda Crossing Court Houston, TX 1
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 2017
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,390
    • $1.01
    •  
  • 12819 Fawnway Drive Houston, TX 2
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1997 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1997
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 5211 Penwell Meadow Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2017
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.06
    •  
  • 13110 Ingram Gap Lane Houston, TX 4
    • 3 beds 3 baths ∙ 1,425 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,425 Sqft ∙ Built 2017
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 12910 Rockford Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,478 Sqft ∙ Built 1998 4 beds 2 baths ∙ 1,478 Sqft ∙ Built 1998
    property image
    LEASED 11/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.08
    •  
PROPERTY LISTING DETAILS
Tanesha Richardson
1.713.523.7402
Womack Development
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 81891571
Last Updated: 11/28/2020
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