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PROPERTY INFO
FACTS
- Single Family
- Built In 1990
- Price/Sqft : $100.87
- 4 Days on Market
- MLS # : 59409643
- Updated Date : 01/30/2021 at 10:07
CONSTRUCTION
- Beds : 4
- Floor Size : 2,180 sqft
- Baths : 2 full , 1 half
Listing Agent
Mark Dimas Properties
Listing Agent's Description
Spacious two-story home with a lovely curb appeal featuring mature trees, an updated roof (2017), and fresh paint! The 1st floor offers a tile entry, vaulted ceilings, a fireplace den, formal dining area with chair rail molding, and a half bath. Also downstairs is the island kitchen that includes granite counter-tops, ample cabinet space, a new garbage disposal, and the utility closet while the master suite features new wood laminate flooring, crown molding, a whirlpool tub, dual sinks, a separate shower, and a walk-in closet! Upstairs holds the 3 secondary bedrooms and the 2nd full bathroom. The manageable backyard includes an open patio and has plenty of landscaping opportunity! This home is situated on a corner lot in a quiet neighborhood only minutes from Highway 6, Sam Houston Tollway, and Bear Creek Park!
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: Concord Bridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Concord Bridge
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,840 |
| EXPENSES | Loan Payment | -$764 |
| Property Tax | -$510 | |
| Property Insurance | -$175 | |
| HOA | -$29 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$263
|
||
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.
$219,900
PROJECTED PRICE
$1,840
PROJECTED RENT
0.84%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 6.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.80% |
| 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
$64,024
LOAN DETAILS
$764
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $54,975 |
| Loan Amount | $164,925 |
7.5
YEARS SAVED
$20,969
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,840
LIST RENT -
$0.84
LIST RENT PER SQFT
-
$1,918
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
13310 Misty Mill Drive Houston, TX 3
- 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,180 Sqft ∙ Built 1990
- Rent
- Rent Per SQFT
- $1,840
- $0.84
-
13602 Klamath Falls Drive Houston, TX 1
- 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,993 Sqft ∙ Built 1985
LEASED 10/05/20- Rent
- Rent Per SQFT
- $1,600
- $0.80
-
5714 Henniker Drive Houston, TX 2
- 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,037 Sqft ∙ Built 1993
LEASED 06/28/20- Rent
- Rent Per SQFT
- $1,650
- $0.81
-
13346 Clayton Hill Drive Houston, TX 4
- 4 beds 3 baths ∙ 2,057 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,057 Sqft ∙ Built 1990
LEASED 01/16/21- Rent
- Rent Per SQFT
- $1,950
- $0.95
-
5715 Pheasant Ridge Lane Houston, TX 5
- 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,085 Sqft ∙ Built 1995
LEASED 12/04/20- Rent
- Rent Per SQFT
- $2,000
- $0.96
PROPERTY LISTING DETAILS
1.281.861.6199
Mark Dimas Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 59409643
Last Updated: 01/30/2021
