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PROPERTY INFO
FACTS
- Single Family
- Built In 1980
- Price/Sqft : $71.52
- 3 Days on Market
- MLS # : 32439929
- Updated Date : 11/20/2020 at 23:12
CONSTRUCTION
- Beds : 3
- Floor Size : 1,538 sqft
- Baths : 2 full
Listing Agent
Optima Realty
Listing Agent's Description
This is an as is estate sale. The will be an as is sale and there isn't a survey. Home has lots of promise but needs lots of cosmetic work. Current owners have no knowledge of any of the homes systems or condition of the property. They are working on get the current items in the home removed. This would make a great flip for an investor or a nice home for someone who wants to come in and put some sweat equity into making it a really nice home in a great location with access to restaurants, both airports, easy commute to downtown and many local attractions.
SEE MORE
- Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
- 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)
PRICE & RENT TRENDS
Neighborhood: Sterling Green
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Sterling Green
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
INCOME | Rent | $1,350 |
EXPENSES | Loan Payment | -$406 |
Property Tax | -$312 | |
Property Insurance | -$131 | |
Property Management Fees | -$99 | |
CASH FLOW
$402
|
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.
$110,000
PROJECTED PRICE
$1,350
PROJECTED RENT
1.23%
PROJECTED RENT / PRICE RATIO
Expense Inflation | 2.50% |
Rental Growth Year (1-5) | 2.99% |
Appreciation Year (1-5) | 8.9% |
Maintenance Year (1-5) | 8.00% |
Vacancy | 8.01% |
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
$34,900
LOAN DETAILS
$406
MONTHLY LOAN PAYMENT
Term | 30 Years |
Interest | 4.25% |
Down Payment | $27,500 |
Loan Amount | $82,500 |
16.25
YEARS SAVED
$34,805
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,350
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,407
COMP ESTIMATED VALUE -
$0.92
COMP AVG. RENT PER SQFT
Comps Range
PROPERTY LISTING DETAILS
Optima Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 32439929
Last Updated: 11/20/2020