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1314 W 21st Street Houston, TX 77008

3 Beds 4 Baths 2,241 sqft Built 2014

$360,000

List Price

$2,880

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $160.64
  • 3 Days on Market
  • MLS # : 58623677
  • Updated Date : 01/15/2021 at 22:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,241 sqft
  • Baths : 3 full , 1 half
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Close to 610/I-10/290 - Downtown, Heights, Memorial and Energy Corridor. Several restaurants, bars and a new 24 Hour Fitness are walking distance. Homes are gated with a private driveway and NO HOA. Home features high ceilings, wood floors, maple cabinets with granite countertops. High Performance Energy Features include 15 SEER humidity controlled HVAC, high performance windows, cell foam insulation, low flow plumbing fixtures and dual flush commodes. All units are the same, pictures and video are Unit A.

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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: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $99k436k

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

Neighborhood: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9692745

* 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
Sinclair Elementary School Primary Magnet 534 34 6
Black Middle School Middle Regular 907 50 6
Waltrip High School High Magnet 1,663 94 3

Sinclair Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 34
6
GreatSchools Rating

Black Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 50
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$324,000$396,000$360,000

PURCHASE PRICE

$2,592$3,168$2,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,880
EXPENSES Loan Payment -$1,250
Property Tax -$759
Property Insurance -$179
Property Management Fees -$99
CASH FLOW
$593

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.

$360,000

PROJECTED PRICE

$2,880

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.4%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k$25k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,150

INVESTMENT

$101,150

Down Payment
$90,000
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $90,000
Loan Amount $270,000
See What Happens When You Reinvest Cash Flow

10.33

YEARS SAVED

$55,161

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,880

    LIST RENT
  • $1.29

    LIST RENT PER SQFT
  • $2,868

    COMP ESTIMATED VALUE
  • $1.28

    COMP AVG. RENT PER SQFT
Comps Range
$2,650
1$2,6502$2,8003$2,8004$2,8805$2,950
$2,950
RENT COMPS ANALYSIS
  • 1314 W 21st Street Houston, TX 4
    • 3 beds 4 baths ∙ 2,241 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,241 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,880
    • $1.29
    •  
  • 1538 W 23rd Street Houston, TX 1
    • 3 beds 4 baths ∙ 2,334 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,334 Sqft ∙ Built 2012
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.14
    •  
  • 933 W 24th Street Houston, TX 2
    • 3 beds 4 baths ∙ 2,202 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,202 Sqft ∙ Built 2012
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.27
    •  
  • 1328 W 23rd Street Houston, TX 3
    • 3 beds 4 baths ∙ 2,100 Sqft ∙ Built 2020 3 beds 4 baths ∙ 2,100 Sqft ∙ Built 2020
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.33
    •  
  • 1039 W 17th Street Houston, TX 5
    • 3 beds 4 baths ∙ 2,130 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,130 Sqft ∙ Built 2018
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $1.38
    •  
PROPERTY LISTING DETAILS
Alison Mcgallion
1.832.423.3925
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 58623677
Last Updated: 01/15/2021
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