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13422 Lyndonville Drive Houston, TX 77041

3 Beds 2 Baths 1,278 sqft Built 1982

$171,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $133.80
  • 4 Days on Market
  • MLS # : 52881763
  • Updated Date : 01/15/2021 at 10:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,278 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Never flooded! 3 bed, 2 bath home in highly sought after Concord Bridge! Brand new paint and floors throughout the home. Granite counters in kitchen and bathrooms. Spacious walk in closet in the primary bedroom, and ample storage throughout. Great curb appeal and a huge back yard for the kids and pets! **Showings start on Saturday with an open house 11 a.m. - 1 p.m.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Concord Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $99k250k

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

Neighborhood: Concord Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7831677

* 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
Lee Elementary School Primary Regular 1,011 60 7
Truitt Middle School Middle Regular 1,412 94 5
Cypress Ridge High School High Regular 3,030 195 5

Lee Elementary School

  • Education Level: Primary
  • # of students: 1,011
  • # of teachers: 60
7
GreatSchools Rating

Truitt Middle School

  • Education Level: Middle
  • # of students: 1,412
  • # of teachers: 94
5
GreatSchools Rating

Cypress Ridge High School

  • Education Level: High
  • # of students: 3,030
  • # of teachers: 195
5
GreatSchools Rating
 

$153,900$188,100$171,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$594
Property Tax -$397
Property Insurance -$114
HOA -$31
Property Management Fees -$99
CASH FLOW
$146

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.

$171,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$51,065

INVESTMENT

$51,065

Down Payment
$42,750
Rehab Estimate
$5,750
Closing Costs
$2,565

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$594

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,750
Loan Amount $128,250
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$11,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,380

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3953$1,4754$1,4955$1,585
$1,585
RENT COMPS ANALYSIS
  • 13422 Lyndonville Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,278 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.08
    •  
  • 13403 Bridgepath Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1983
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.97
    •  
  • 6214 Dyer Brook Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 2000
    property image
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.15
    •  
  • 13506 Canaan Bridge Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,360 Sqft ∙ Built 1982
    property image
    LEASED 11/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.10
    •  
  • 13315 Hampton Falls Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,440 Sqft ∙ Built 1982
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,585
    • $1.10
    •  
PROPERTY LISTING DETAILS
Scottie Attaway
1.713.628.9509
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 52881763
Last Updated: 01/15/2021
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