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13826 Barrett Ridge Lane Houston, TX 77044

4 Beds 3 Baths 2,796 sqft Built 2010

$315,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $112.66
  • 3 Days on Market
  • MLS # : 36490686
  • Updated Date : 02/05/2021 at 20:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,796 sqft
  • Baths : 3 full
Listing Agent

Ihouzz Realty, Llc

Listing Agent's Description

Location, Location, Location! This one story immaculate Lennar home is conveniently located across the street from park/pool, near shopping, easy access to Beltway 8/Hwy 59, IAH Airport, Downtown Houston and just blocks away from Lake Houston. This home has it all - welcoming front porch, 4 bedrooms, 3 full bathrooms, formal dining, study with French doors, living room with cozy fireplace and walls of windows filled with sunlight. High ceilings, extensive crown moulding, tile & gleaming hardwood floors in all the living areas. Gourmet island kitchen with granite counter-tops, stainless steel appliances, abundance of cabinets, breakfast bar & breakfast room. Spacious master bedroom with ensuite and large walk in-closet. Private backyard has a screened covered patio to enjoy the outdoors minus the bugs. 3 car tandem garage + full sprinkler system. Amazing attic in garage has flooring and ample room for storage. This is a home you'll love living in as well as showing off!

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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: Lake Houston

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Lake Houston

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9692290

* 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
Lakeshore Elementary School Primary Regular 954 60 6
Woodcreek Middle School Middle Regular 1,313 75 7
Summer Creek High School High Regular 2,427 148 5

Lakeshore Elementary School

  • Education Level: Primary
  • # of students: 954
  • # of teachers: 60
6
GreatSchools Rating

Woodcreek Middle School

  • Education Level: Middle
  • # of students: 1,313
  • # of teachers: 75
7
GreatSchools Rating

Summer Creek High School

  • Education Level: High
  • # of students: 2,427
  • # of teachers: 148
5
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,094
Property Tax -$823
Property Insurance -$216
HOA -$74
Property Management Fees -$99
CASH FLOW
$54

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.

$315,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.2%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,118

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,342

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3503$2,3604$2,3755$2,500
$2,500
RENT COMPS ANALYSIS
  • 13826 Barrett Ridge Lane Houston, TX 3
    • 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,796 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.84
    •  
  • 13407 Popes Creek Lane Houston, TX 1
    • 4 beds 2 baths ∙ 2,723 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,723 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 14402 Country Haven Court Houston, TX 2
    • 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,904 Sqft ∙ Built 2007
    LEASED 01/16/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.81
    •  
  • 13802 Mckinney Houston, TX 4
    • 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,685 Sqft ∙ Built 2010
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,375
    • $0.88
    •  
  • 14410 Morning Lodge Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,935 Sqft ∙ Built 2007
    LEASED 01/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.85
    •  
PROPERTY LISTING DETAILS
Ansuya Hesse
1.281.723.4547
Ihouzz Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 36490686
Last Updated: 02/05/2021
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