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1426 W 21st Street Houston, TX 77008

3 Beds 4 Baths 1,892 sqft Built 2006

$379,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $200.32
  • 1 Days on Market
  • MLS # : 11466533
  • Updated Date : 07/13/2021 at 15:30
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,892 sqft
  • Baths : 3 full , 1 half
Listing Agent

R. Alexa Group Llc

Listing Agent's Description

Come home daily to this charming and incredible townhome tucked away within a private gated community in a local Heights neighborhood. This Tuscan inspired home has 3 beds, 3.5 baths with a spacious open floor plan ready to entertain. Floors were updated with all hardwood flooring throughout the home, including all rooms that were previously carpet. Gourmet kitchen was updated with a hood/stove system for a gourmet cooking experience. Bathrooms have imported vanities and travertine tile and all existing appliances stay. Live on a wide and comfortable street and within walking distance to several restaurants such as Crisp, Cedar Creek and Rainbow Lodge. The ever popular and growing Heights restaurants, shops and parks are only a short drive away. All current appliances stay. Home is also zoned to acclaimed and amazing schools, including a magnet elementary school. Don't miss out on this amazing home in the city!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $99k436k

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

Neighborhood: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9692745

* 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
Sinclair Elementary School Primary Magnet 534 34 6
Black Middle School Middle Regular 907 50 6
Waltrip High School High Magnet 1,663 94 3

Sinclair Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 34
6
GreatSchools Rating

Black Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 50
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$341,100$416,900$379,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,316
Property Tax -$799
Property Insurance -$155
HOA -$104
Property Management Fees -$99
CASH FLOW
-$4

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.

$379,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.4%
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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,185

INVESTMENT

$106,185

Down Payment
$94,750
Rehab Estimate
$5,750
Closing Costs
$5,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,316

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,750
Loan Amount $284,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.31

    LIST RENT PER SQFT
  • $2,663

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,470
1$2,4702$2,5503$2,6504$2,7005$2,750
$2,750
RENT COMPS ANALYSIS
  • 1426 W 21st Street Houston, TX 1
    • 3 beds 4 baths ∙ 1,892 Sqft ∙ Built 2006 3 beds 4 baths ∙ 1,892 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.31
    •  
  • 1431 W 24th Street Houston, TX 2
    • 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,734 Sqft ∙ Built 2014
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $1.47
    •  
  • 1623 W 23rd Street Houston, TX 3
    • 3 beds 4 baths ∙ 1,996 Sqft ∙ Built 2015 3 beds 4 baths ∙ 1,996 Sqft ∙ Built 2015
    property image
    LEASED 02/23/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $1.33
    •  
  • 1433 W 23rd Houston, TX 4
    • 3 beds 4 baths ∙ 2,000 Sqft ∙ Built 2011 3 beds 4 baths ∙ 2,000 Sqft ∙ Built 2011
    property image
    LEASED 12/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.35
    •  
  • 1540 W 24th Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,862 Sqft ∙ Built 2000
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.48
    •  
PROPERTY LISTING DETAILS
Thy Yu
1.832.277.3725
R. Alexa Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 11466533
Last Updated: 07/13/2021
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