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13431 Exton Ln Houston, TX 77070

4 Beds 2 Baths 2,417 sqft Built 2000

$200,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
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.

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MARKET HIGHLIGHTS

  • 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

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Norchester South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Matzke Elementary School Primary Regular 984 57 7
Bleyl Middle School Middle Regular 1,503 91 6
Cypress Creek High School High Regular 3,161 199 7

Matzke Elementary School

  • Education Level: Primary
  • # of students: 984
  • # of teachers: 57
7
GreatSchools Rating

Bleyl Middle School

  • Education Level: Middle
  • # of students: 1,503
  • # of teachers: 91
6
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

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
$1,800
1$1,8002$1,8503$1,8504$1,8505$1,900
$1,900
RENT COMPS ANALYSIS
  • 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
Velvet Harris
1.832.444.5652
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 38256963
Last Updated: 02/26/2021
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