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14610 S Hearthstone Green Drive Houston, TX 77095

3 Beds 3 Baths 2,202 sqft Built 1983

$230,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

December 15, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $104.45
  • 6 Days on Market
  • MLS # : 73717381
  • Updated Date : 12/15/2020 at 12:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,202 sqft
  • Baths : 2 full , 1 half
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

This beautiful home is situated on a gorgeous corner lot with big shade trees in the highly sought after community of Hearthside Green! Great floorplan! The kitchen includes stainless steel appliances, tile, and an ample amount of cabinet space. The breakfast area is located just off the kitchen. The primary bedroom includes tile and a sitting area. The primary bath includes his/her sinks, his/her closets, a large tub, and a stand-up shower. The large family room includes tile flooring, high ceilings, and a fireplace. The formal dining includes a chair rail, crown molding, and tile flooring. The home includes a wet bar located just off the dining room. Two spacious guest bedrooms located up with laminate flooring and walk-in closets. Enjoy relaxing after a hard days work in the peaceful back yard area complete with a covered patio and plenty of green space for the kiddos to play. A must see!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Hearthstone Green

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $99k362k

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

Neighborhood: Hearthstone Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9692147

* 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
Owens Elementary School Primary Regular 971 57 6
Labay Middle School Middle Regular 1,478 90 7
Cypress Falls High School High Regular 3,667 214 NA

Owens Elementary School

  • Education Level: Primary
  • # of students: 971
  • # of teachers: 57
6
GreatSchools Rating

Labay Middle School

  • Education Level: Middle
  • # of students: 1,478
  • # of teachers: 90
7
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students: 3,667
  • # of teachers: 214
NA
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$849
Property Tax -$498
Property Insurance -$176
HOA -$44
Property Management Fees -$99
CASH FLOW
$95

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.

$230,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$9,443

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,894

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,760
1$1,7602$1,8003$1,8004$1,8255$1,900
$1,900
RENT COMPS ANALYSIS
  • 14610 S Hearthstone Green Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.80
    •  
  • 15006 Elmont Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 1976 4 beds 3 baths ∙ 2,184 Sqft ∙ Built 1976
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 7411 Betanna Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 1977 4 beds 2 baths ∙ 2,115 Sqft ∙ Built 1977
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 15015 Moss Boulder Court Houston, TX 4
    • 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,032 Sqft ∙ Built 1994
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.90
    •  
  • 14734 Elmont Drive Houston, TX 5
    • 4 beds 2 baths ∙ 2,191 Sqft ∙ Built 1978 4 beds 2 baths ∙ 2,191 Sqft ∙ Built 1978
    LEASED 02/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
PROPERTY LISTING DETAILS
Cole Lumley
1.281.300.3997
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 73717381
Last Updated: 12/15/2020
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