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13115 Aiden Circle Houston, TX 77048

3 Beds 3 Baths 1,638 sqft Built 2010

$185,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $112.94
  • 4 Days on Market
  • MLS # : 88254258
  • Updated Date : 02/26/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full , 1 half
Listing Agent

Offerpad Brokerage, Llc

Listing Agent's Description

Enjoy this great two-story in the quiet neighborhood of Almeda Meadows. No HOA. No MUD. Easy access to Beltway 8/Sam Houston Pkwy. Great starter home or investment property. Open floor plan to living, dining and kitchen with half bath all on first floor. All bedrooms upstairs with small loft area. This home sits in a cul-de-sac with oversized back yard ready with plenty of space for a pool and new outdoor living space. Low taxes. New above range microwave. Recent carpet cleaning. Don't miss out on this home with access to HWY 288, minutes from Pearland, Medical Center, Downtown Houston and with multiple shopping areas nearby.

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: Almeda Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k233k

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

Neighborhood: Almeda Meadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8971677

* 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
Law Elementary School Primary Magnet 748 39 3
Thomas Middle School Middle Regular 476 32 3
Sterling High School High Magnet 1,060 60 2

Law Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 39
3
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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$643
Property Tax -$390
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$230

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

$1,500

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.7%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

8.58

YEARS SAVED

$21,469

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,507

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,4703$1,4754$1,5005$1,550
$1,550
RENT COMPS ANALYSIS
  • 13115 Aiden Circle Houston, TX 4
    • 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,638 Sqft ∙ Built 2010
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.92
    •  
  • 5107 Kilkenny Drive Houston, TX 1
    • 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 2000 4 beds 2 baths ∙ 1,511 Sqft ∙ Built 2000
    property image
    LEASED 03/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.91
    •  
  • 4219 Richmeadow Drive Houston, TX 2
    • 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,539 Sqft ∙ Built 2013
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.96
    •  
  • 4402 Sorsby Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,568 Sqft ∙ Built 2005
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.94
    •  
  • 4318 Almeda Meadows Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,777 Sqft ∙ Built 2013
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
PROPERTY LISTING DETAILS
Pamela Adkins
1.346.375.4611
Offerpad Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88254258
Last Updated: 02/26/2021
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