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1401 Dorothy Street Houston, TX 77008

3 Beds 4 Baths 1,984 sqft Built 2013

$413,000

List Price

$2,630

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $208.17
  • 6 Days on Market
  • MLS # : 24780207
  • Updated Date : 11/07/2020 at 21:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,984 sqft
  • Baths : 3 full , 1 half
Listing Agent

Nexthome Realty Center

Listing Agent's Description

Beautiful 3-story home in The Heights on a corner lot full of upgrades. 3 bedrooms and 3.5 bathrooms. Guest bedroom with en-suite bathroom on the first floor, with the primary and secondary bedrooms and full baths on the third floor. Living room and first floor guest room are wired for surround sound. High ceilings with crown molding throughout, granite counter tops, stainless steel appliances, Carrara marble gas fire place and kitchen back splash, hardwood floors and tankless water heater. This home offers street parking, overlooks a beautiful church steeple, is walking distance from Heights Beer Garten, 19th street shops and restaurants, and blocks away from Nicholson Trail and Love Park. Wrought-iron fenced-in front and side yard offers space for playing, entertaining or pups to run. This home has it all. Let’s make it your NextHome.

SEE MORE

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: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k495k

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

Neighborhood: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9692561

* 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
Love Elementary School Primary Regular 428 27 3
Hamilton Middle School Middle Magnet 1,248 64 6
Reagan High School High Magnet 2,230 112 4

Love Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 27
3
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Reagan High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 112
4
GreatSchools Rating
 

$371,700$454,300$413,000

PURCHASE PRICE

$2,367$2,893$2,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,630
EXPENSES Loan Payment -$1,524
Property Tax -$871
Property Insurance -$161
Property Management Fees -$99
CASH FLOW
-$25

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.

$413,000

PROJECTED PRICE

$2,630

PROJECTED RENT

0.64%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$115,195

INVESTMENT

$115,195

Down Payment
$103,250
Rehab Estimate
$5,750
Closing Costs
$6,195

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,524

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $103,250
Loan Amount $309,750
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,315

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,630

    LIST RENT
  • $1.33

    LIST RENT PER SQFT
  • $2,609

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,6303$2,7254$2,8005$2,850
$2,850
RENT COMPS ANALYSIS
  • 1401 Dorothy Street Houston, TX 2
    • 3 beds 4 baths ∙ 1,984 Sqft ∙ Built 2013 3 beds 4 baths ∙ 1,984 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,630
    • $1.33
    •  
  • 1620 W 14th Street Houston, TX 1
    • 3 beds 4 baths ∙ 2,112 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,112 Sqft ∙ Built 2007
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.16
    •  
  • 1317 Prince Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $1.42
    •  
  • 1430 Dian Street Houston, TX 4
    • 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2013
    LEASED 03/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.33
    •  
  • 1264 Prince Street Houston, TX 5
    • 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,116 Sqft ∙ Built 2008
    LEASED 06/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.35
    •  
PROPERTY LISTING DETAILS
Janan Upshaw
1.281.387.7002
Nexthome Realty Center
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 24780207
Last Updated: 11/07/2020
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