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13247 Southpoint Lane Houston, TX 77034

4 Beds 3 Baths 2,119 sqft Built 2007

$230,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 09, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $108.54
  • 7 Days on Market
  • MLS # : 33165513
  • Updated Date : 11/13/2020 at 07:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,119 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Top Realty

Listing Agent's Description

Make your appointment to see this Beautiful house it has a Large Living room and great kitchen with breakfast room. Master BR is downstairs and all other rooms upstairs ROOF IS ONLY 1YR OLD AS IS THE A/C UNIT, IT HAS STORM DOORS AND DOUBLE PANE WINDOWS Easy access to Interstate Freeway 45 and B-8! in Pasadena ISD. Come and see it today! you will love this one!

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: Southway

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Southway

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Genoa Elementary School Primary Regular 776 50 3
Elmer G Bondy Intermediate School Middle Regular 998 59 8
Pasadena Memorial High School High Regular 3,121 177 5

Genoa Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 50
3
GreatSchools Rating

Elmer G Bondy Intermediate School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 59
8
GreatSchools Rating

Pasadena Memorial High School

  • Education Level: High
  • # of students: 3,121
  • # of teachers: 177
5
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$849
Property Tax -$474
Property Insurance -$170
Property Management Fees -$99
CASH FLOW
$48

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.

$230,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 4.5%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

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

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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$9,595

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6403$1,6504$1,6755$1,680
$1,680
RENT COMPS ANALYSIS
  • 13247 Southpoint Lane Houston, TX 2
    • 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.77
    •  
  • 13211 Babbitt Street Houston, TX 1
    • 4 beds 3 baths ∙ 2,165 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,165 Sqft ∙ Built 2007
    property image
    LEASED 06/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.74
    •  
  • 13327 Gardnerville Street Houston, TX 3
    • 4 beds 3 baths ∙ 1,973 Sqft ∙ Built 2009 4 beds 3 baths ∙ 1,973 Sqft ∙ Built 2009
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.84
    •  
  • 10418 Gerlach Street Houston, TX 4
    • 3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,139 Sqft ∙ Built 2009
    property image
    LEASED 02/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.78
    •  
  • 13314 Babbitt Street Houston, TX 5
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2007
    property image
    LEASED 01/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.77
    •  
PROPERTY LISTING DETAILS
Jorge Creado
1.832.875.3001
Re/max Top Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 33165513
Last Updated: 11/13/2020
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