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14151 Cascade Falls Drive Houston, TX 77062

3 Beds 2 Baths 2,023 sqft Built 1990

INVESTimate

$245,000

List Price

$1,840

$1,656 - $2,024

Rent Est.

$263,277  ( +7.46%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 1990
  • Price/Sqft : $121.11
  • 10 Days on Market
  • MLS # : 33889289
  • Updated Date : 08/23/2020 at 12:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,023 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

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: Bay Glen

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Bay Glen

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
Ward Elementary School Primary Regular 583 36 7
Clear Lake Intermediate School Middle Regular 1,001 64 6
Clear Brook High School High Regular 2,335 153 7

Ward Elementary School

  • Education Level: Primary
  • # of students: 583
  • # of teachers: 36
7
GreatSchools Rating

Clear Lake Intermediate School

  • Education Level: Middle
  • # of students: 1,001
  • # of teachers: 64
6
GreatSchools Rating

Clear Brook High School

  • Education Level: High
  • # of students: 2,335
  • # of teachers: 153
7
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

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-$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 $1,840
EXPENSES Loan Payment -$904
Property Tax -$591
Property Insurance -$164
HOA -$41
Property Management Fees -$99
CASH FLOW
$42

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.

$245,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.46%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,962

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,892

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,840
1$1,8402$1,8503$1,9004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 14151 Cascade Falls Drive Houston, TX 1
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1990 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.91
    •  
  • 14203 Cascade Falls Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,161 Sqft ∙ Built 1990
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 14558 Oak Chase Houston, TX 3
    • 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 1987 3 beds 3 baths ∙ 1,985 Sqft ∙ Built 1987
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.96
    •  
  • 14211 Oak Chase Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,952 Sqft ∙ Built 1989
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.97
    •  
  • 1419 Thornwood Lane Houston, TX 5
    • 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1988 4 beds 3 baths ∙ 2,055 Sqft ∙ Built 1988
    property image
    LEASED 04/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
PROPERTY LISTING DETAILS
Dionne Sames
1.832.334.7030
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 33889289
Last Updated: 08/23/2020
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