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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $82.75
- 5 Days on Market
- MLS # : 38256963
- Updated Date : 02/26/2021 at 10:09
CONSTRUCTION
- Beds : 4
- Floor Size : 2,417 sqft
- Baths : 2 full
Listing Agent
Bhgre Gary Greene
Listing Agent's Description
HOME NEEDS REPAIRS AND UPDATING. THIS WOULD MAKE A BEAUTIFUL HOME FOR A BUYER OR AS AN INVESTMENT PROPERTY. SITS IN A GREAT LOCATION CLOSE TO MAJOR HIGHWAYS, SHOPPING AND RESTAURANTS. ONE STORY HOME WITH 4 BEDROOMS HAS AN OPEN PLAN WITH HIGH CEILINGS. THE TANDEM FORMALS ARE ADJACENT TO THE KITCHEN. AND KITCHEN IS OPEN TO THE LARGE FAMILY ROOM WITH FIREPLACE. THE PRIMARY BEDROOM IS SPACIOUS AND THE WALK IN CLOSET IS AWESOME! THERE ARE 3 OTHER SECONDARY BEDROOMS IN THIS SPLIT PLAN. PLUS STORAGE SPACE IN THE LAUNDRY ROOM. THE BACK COVERED PATIO IS OVERSIZED. THE BACKYARD HAS PLENTY OF SPACE AS WELL ON THIS LARGE LOT. HOME DID NOT FLOOD PER SELLER.
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: Norchester South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Norchester South
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,800 |
| EXPENSES | Loan Payment | -$695 |
| Property Tax | -$585 | |
| Property Insurance | -$191 | |
| HOA | -$43 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$188
|
||
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.
$200,000
PROJECTED PRICE
$1,800
PROJECTED RENT
0.90%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| 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
$58,750
LOAN DETAILS
$695
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $50,000 |
| Loan Amount | $150,000 |
5.17
YEARS SAVED
$10,801
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,800
LIST RENT -
$0.74
LIST RENT PER SQFT
-
$1,922
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
-
13431 Exton Ln Houston, TX 1
- 4 beds 2 baths ∙ 2,417 Sqft ∙ Built 2000 4 beds 2 baths ∙ 2,417 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $1,800
- $0.74
-
10234 Wildwood Park Lane Houston, TX 2
- 4 beds 2 baths ∙ 2,267 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,267 Sqft ∙ Built 1999
LEASED 08/01/20- Rent
- Rent Per SQFT
- $1,850
- $0.82
-
10434 Hamlet Vale Court Houston, TX 3
- 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,352 Sqft ∙ Built 2006
LEASED 08/31/20- Rent
- Rent Per SQFT
- $1,850
- $0.79
-
10410 Chamomile Green Court Houston, TX 4
- 3 beds 2 baths ∙ 2,387 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,387 Sqft ∙ Built 2009
LEASED 08/01/20- Rent
- Rent Per SQFT
- $1,850
- $0.78
-
13022 Bramford Point Lane Houston, TX 5
- 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 2003
LEASED 01/07/21- Rent
- Rent Per SQFT
- $1,900
- $0.79
PROPERTY LISTING DETAILS
1.832.444.5652
Bhgre Gary Greene
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 38256963
Last Updated: 02/26/2021
