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PROPERTY INFO
FACTS
- Single Family
- Built In 1993
- Price/Sqft : $105.17
- 2 Days on Market
- MLS # : 39113133
- Updated Date : 02/13/2021 at 13:48
CONSTRUCTION
- Beds : 4
- Floor Size : 1,759 sqft
- Baths : 2 full , 2 half
Listing Agent
Equity House Properties
Listing Agent's Description
YOUR SEARCH STOPS HERE! Pride in ownership reflected in this 4/2/2. Upon entering you will find the formal living and dining room on the right, proceed down the hall to the grand family room with vaulted ceilings and a cozy wood burning fireplace. On the right is the breakfast area which leads to the galley styled kitchen with recent appliances and nice wood cabinets. If you are an outdoor person go outback and enjoy the enormous covered patio, expansive backyard and a reserve just over the fence! Going down the hall you will find the nice laundry room with built ins to make doing the laundry more convenient with lots of cabinets for storage. Also down this hall you will find the great primary bedroom and the secondary bedrooms. In the primary BR is a sliding glass door to access the patio. The updated master bath has recent cabinets as well as a full shower only with a sliding glass door and floor to ceiling tile for easy cleanup! Add this to your list for your agent today!
SEE MORE
- 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: Sterling Green
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sterling Green
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,540 |
| EXPENSES | Loan Payment | -$643 |
| Property Tax | -$441 | |
| Property Insurance | -$146 | |
| HOA | -$23 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$189
|
||
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.
$185,000
PROJECTED PRICE
$1,540
PROJECTED RENT
0.83%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.99% |
| Appreciation Year (1-5) | 8.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.01% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$54,775
LOAN DETAILS
$643
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $46,250 |
| Loan Amount | $138,750 |
7.17
YEARS SAVED
$16,049
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,540
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,473
COMP ESTIMATED VALUE -
$0.84
COMP AVG. RENT PER SQFT
Comps Range
-
1302 Holbech Lane Channelview, TX 4
- 4 beds 4 baths ∙ 1,759 Sqft ∙ Built 1993 4 beds 4 baths ∙ 1,759 Sqft ∙ Built 1993
- Rent
- Rent Per SQFT
- $1,540
- $0.88
-
944 Holbech Lane Channelview, TX 1
- 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,606 Sqft ∙ Built 1983
LEASED 10/06/20- Rent
- Rent Per SQFT
- $1,395
- $0.87
-
1034 Heathfield Drive Channelview, TX 2
- 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,685 Sqft ∙ Built 1981
LEASED 08/31/20- Rent
- Rent Per SQFT
- $1,420
- $0.84
-
1111 Heathfield Drive Channelview, TX 3
- 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1984
LEASED 06/26/20- Rent
- Rent Per SQFT
- $1,450
- $0.81
-
1418 Somercotes Lane Channelview, TX 5
- 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,864 Sqft ∙ Built 1980
LEASED 11/01/20- Rent
- Rent Per SQFT
- $1,550
- $0.83
PROPERTY LISTING DETAILS
1.713.805.1548
Equity House Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 39113133
Last Updated: 02/13/2021
