Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

13122 Crystal Cove Drive Houston, TX 77044

3 Beds 2 Baths 1,256 sqft Built 1981

$150,000

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $119.43
  • 53 Days on Market
  • MLS # : 19940681
  • Updated Date : 12/11/2020 at 08:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,256 sqft
  • Baths : 2 full
Listing Agent

Texas United Realty

Listing Agent's Description

Nice home in Parkway Forest subdivision. Home has potential. Tile throughout this house. Gate has double doors to drive car in to the back with a carport for car to park under and still leaves plenty of room for kids to run around and play.

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: Parkway Forest

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $59k222k

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

Neighborhood: Parkway Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7781677

* 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
Monahan Elementary School Primary Regular 500 33 4
C.e. King Middle School Middle Regular 924 60 3
C.e. King High School High Regular 1,907 143 2

Monahan Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 33
4
GreatSchools Rating

C.e. King Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 60
3
GreatSchools Rating

C.e. King High School

  • Education Level: High
  • # of students: 1,907
  • # of teachers: 143
2
GreatSchools Rating
 

$135,000$165,000$150,000

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$553
Property Tax -$387
Property Insurance -$112
HOA -$17
Property Management Fees -$99
CASH FLOW
$82

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.

$150,000

PROJECTED PRICE

$1,250

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.5%
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$50k$100k$150k$200k$250k$300k$350k$400k$450k

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$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$8,855

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,335

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2503$1,3054$1,4355$1,450
$1,450
RENT COMPS ANALYSIS
  • 13122 Crystal Cove Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,256 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.00
    •  
  • 8655 Deep Valley Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1980
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.17
    •  
  • 12814 Crystal Cove Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,380 Sqft ∙ Built 1982
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,305
    • $0.95
    •  
  • 12819 Bamboo Forest Trail Houston, TX 4
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1980
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $1.10
    •  
  • 12838 Abalone Way Houston, TX 5
    • 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,402 Sqft ∙ Built 1980
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
PROPERTY LISTING DETAILS
Filadelfo Martinez
1.281.507.9040
Texas United Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 19940681
Last Updated: 12/11/2020
BESbswy