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14734 La Rana Drive Houston, TX 77083

4 Beds 3 Baths 2,143 sqft Built 1984

$215,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $100.33
  • 8 Days on Market
  • MLS # : 60100542
  • Updated Date : 01/28/2021 at 10:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,143 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

Beautiful And Spacious Two Story Home with 3 bedroom plus a Extra Bonus room that could be used as a 4th bedroom and 2 and half baths. Vaulted Ceilings And Gas Fireplace. Home Is Light & Bright, Freshly Painted Interior. Separate shower and tub in Master Bathroom. Formal Dining area, with STUDY/OFFICE downstairs. Huge walk in closet in Master bedroom. Front Yard has added flowers to add a New Spruced Up Fresh Look. Attached Garage, with washer and dryer hookups inside the house. Washer, Dryer, and Refrigerator stays with the home. Conveniently Located W/Easy Access To WP Toll, 15 min to hwy 59 and 1-10, Hwy6 & Shopping, Low Taxes, Never Flooded. Super Easy To Show. This home wont last long at this price! COME SEE TODAY YOU DON'T WANT TO MISS OUT ON THIS BEAUTY!

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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: Mission Bend Mission Leona

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Mission Bend Mission Leona

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9691677

* 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
Petrosky Elementary School Primary Regular 652 48 6
Albright Middle School Middle Regular 1,267 87 6
Hastings High School High Regular 3,890 260 4

Petrosky Elementary School

  • Education Level: Primary
  • # of students: 652
  • # of teachers: 48
6
GreatSchools Rating

Albright Middle School

  • Education Level: Middle
  • # of students: 1,267
  • # of teachers: 87
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$193,500$236,500$215,000

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 -$747
Property Tax -$425
Property Insurance -$172
HOA -$42
Property Management Fees -$99
CASH FLOW
$155

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.

$215,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$12k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$13,079

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
  • $0.77

    LIST RENT PER SQFT
  • $1,677

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6404$1,6505$1,700
$1,700
RENT COMPS ANALYSIS
  • 14734 La Rana Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,143 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,143 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.77
    •  
  • 7123 Rio Blanco Drive Houston, TX 1
    • 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,103 Sqft ∙ Built 1978
    property image
    LEASED 07/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.71
    •  
  • 7043 Winkleman Road Houston, TX 2
    • 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 1977 3 beds 2 baths ∙ 2,027 Sqft ∙ Built 1977
    property image
    LEASED 03/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 7223 Mission Court Drive Houston, TX 4
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 1984
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 14443 Summer Garden Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,110 Sqft ∙ Built 2003
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
PROPERTY LISTING DETAILS
Ronda Horton
1.616.633.7654
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 60100542
Last Updated: 01/28/2021
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