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1339 Holbech Lane Channelview, TX 77530

3 Beds 2 Baths 1,538 sqft Built 1980

$110,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 21, 2020 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k222k

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

Neighborhood: Sterling Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7581677

* 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
Channelview High School High Regular 2,319 130 4

Channelview High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 130
4
GreatSchools Rating
 

$99,000$121,000$110,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$34,900

INVESTMENT

$34,900

Down Payment
$27,500
Rehab Estimate
$5,750
Closing Costs
$1,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$406

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $27,500
Loan Amount $82,500
See What Happens When You Reinvest Cash Flow

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
$1,300
1$1,3002$1,3503$1,4004$1,4005$1,475
$1,475
RENT COMPS ANALYSIS
  • 1339 Holbech Lane Channelview, TX 2
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.88
    •  
  • 1338 Holbech Lane Channelview, TX 1
    • 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,462 Sqft ∙ Built 1980
    LEASED 04/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.89
    •  
  • 1315 Willersley Lane Channelview, TX 3
    • 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,538 Sqft ∙ Built 1980
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.91
    •  
  • 1414 Littleport Lane Channelview, TX 4
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1983
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 1415 Tenderden Drive Channelview, TX 5
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1982
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.92
    •  
PROPERTY LISTING DETAILS
Nicole Culpepper
Optima Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32439929
Last Updated: 11/20/2020
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