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14634 Presidents Drive Houston, TX 77047

4 Beds 3 Baths 1,828 sqft Built 1998

$199,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1998
  • Price/Sqft : $108.86
  • 4 Days on Market
  • MLS # : 89423050
  • Updated Date : 11/06/2020 at 10:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,828 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Look no further...This BEAUTIFUL 4-bedroom home shows pride of ownership throughout and boasts laminate wood floors, a butler's pantry and an inviting kitchen with granite counters and a breakfast bar! The open floor plan features a cozy fireplace in the living area and game room upstairs. Enjoy the spacious backyard with NO BACK neighbors. The SPACIOUS owner's retreat includes 9 foot ceilings and a walk-in closet! This home has NEVER FLOODED and includes a New Roof, AC, Water Heater for it's new owner! Schedule a private tour today!

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: Morningside Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k248k

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

Neighborhood: Morningside Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Law Elementary School Primary Magnet 748 39 3
Thomas Middle School Middle Regular 476 32 3
Worthing High School High Magnet 681 38 2

Law Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 39
3
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Worthing High School

  • Education Level: High
  • # of students: 681
  • # of teachers: 38
2
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$734
Property Tax -$493
Property Insurance -$151
HOA -$38
Property Management Fees -$99
CASH FLOW
$126

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$199,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$13,031

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,613

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,6004$1,6405$1,800
$1,800
RENT COMPS ANALYSIS
  • 14634 Presidents Drive Houston, TX 4
    • 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,828 Sqft ∙ Built 1998
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.90
    •  
  • 4003 Portman Glen Lane Houston, TX 1
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2003
    property image
    LEASED 11/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.88
    •  
  • 4106 Geronimo Lake Drive Houston, TX 2
    • 4 beds 3 baths ∙ 1,699 Sqft ∙ Built 1998 4 beds 3 baths ∙ 1,699 Sqft ∙ Built 1998
    property image
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 14207 Prosperity Ridge Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,868 Sqft ∙ Built 2005
    property image
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.86
    •  
  • 3727 Flannery Ridge Lane Houston, TX 5
    • 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,976 Sqft ∙ Built 2004
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
PROPERTY LISTING DETAILS
Venessa James
1.281.889.8292
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 89423050
Last Updated: 11/06/2020
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