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14015 Albany Springs Lane Houston, TX 77044

3 Beds 2 Baths 2,285 sqft Built 2006

INVESTimate

$269,000

List Price

$1,960

$1,764 - $2,156

Rent Est.

$277,474  ( +3.15%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $117.72
  • 20 Days on Market
  • MLS # : 15506045
  • Updated Date : 08/22/2020 at 14:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,285 sqft
  • Baths : 2 full
Listing Agent

Century 21 Parisher Prop.

Listing Agent's Description

Darling home nestled in the popular Master Planned Community of Summerwood just off Beltway 8; this home features 3 bedrooms, 2 full bath, 2 car garage, formal living/dining room, breakfast area, study/office; large family room with fireplace; large master bedroom; with large master bath, his/her sink with separate glass shower; all new appliances, fixtures, breakfast room-shiplap; home sits on lot with no back neighbors; Community Amenities include swimming pools, splash pads, clubhouse, workout facilities, tennis courts, tons of parks and miles of walking trails around the lake; surrounded by shopping, dining, family entertainment and medical facilities; minutes from IAH Airport;

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: 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
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$992
Property Tax -$567
Property Insurance -$182
HOA -$71
Property Management Fees -$99
CASH FLOW
$49

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.

$269,000

PROJECTED PRICE

$1,960

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.15%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$7,276

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,9003$1,9604$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 14015 Albany Springs Lane Houston, TX 3
    • 3 beds 2 baths ∙ 2,285 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,285 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.86
    •  
  • 14302 Morning Lodge Lane Houston, TX 1
    • 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,097 Sqft ∙ Built 2006
    LEASED 04/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.83
    •  
  • 13735 Birney Point Lane Houston, TX 2
    • 3 beds 2 baths ∙ 2,281 Sqft ∙ Built 2008 3 beds 2 baths ∙ 2,281 Sqft ∙ Built 2008
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 13718 Sandy Bend Court Houston, TX 4
    • 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 2006
    LEASED 05/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
  • 13819 Cane Valley Court Houston, TX 5
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 2006
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Hope Tilotta
1.713.962.9338
Century 21 Parisher Prop.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 15506045
Last Updated: 08/22/2020
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