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12942 Palm Leaf Court Houston, TX 77044

3 Beds 2 Baths 1,690 sqft Built 2006

$189,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $112.37
  • 2 Days on Market
  • MLS # : 76870911
  • Updated Date : 11/07/2020 at 15:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,690 sqft
  • Baths : 2 full
Listing Agent

Houston Homes Legacy Group Llc

Listing Agent's Description

Cozy home with lots of charm...GREAT Opportunity to turn this into your dream home. Home offers high ceiling in Master bedroom, spacious walk-in closet, arched entry ways and nice size kitchen with view into living area. Have your morning coffee on front porch to enjoy the sunlight. Desirable area. Minutes from Lake Houston, the airport, shopping and Sam Houston Parkway. Schedule your appointment today, won't last long!

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: 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
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$701
Property Tax -$505
Property Insurance -$141
HOA -$75
Property Management Fees -$99
CASH FLOW
$79

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.

$189,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.84%

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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$6,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,597

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6003$1,6504$1,7505$1,950
$1,950
RENT COMPS ANALYSIS
  • 12942 Palm Leaf Court Houston, TX 2
    • 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,690 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
  • 15819 Scenic Water Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 2006
    LEASED 04/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.87
    •  
  • 12934 Palm Leaf Court Houston, TX 3
    • 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,842 Sqft ∙ Built 2006
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 13026 Davenport Hills Lane Humble, TX 4
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2013
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.99
    •  
  • 12918 Leafy Shores Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2007
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.02
    •  
PROPERTY LISTING DETAILS
Rhonda Padilla
1.713.320.9409
Houston Homes Legacy Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76870911
Last Updated: 11/07/2020
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