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PROPERTY INFO
FACTS
- Single Family
- Built In 1982
- Price/Sqft : $89.80
- 2 Days on Market
- MLS # : 94841309
- Updated Date : 11/14/2020 at 16:33
CONSTRUCTION
- Beds : 5
- Floor Size : 2,784 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Premier Realty
Listing Agent's Description
This one won’t last long! Owners lovingly & diligently maintained the home. Video walk through is linked to this listing. Highlights include an open floor plan great for hosting with lots of natural light, spacious deck & private pool, large bedrooms, open kitchen with lots of cabinets. Study/office. French doors, wet bar, chalk board wall, custom built table can stay. Utility has space for freezer. Custom wood work in primary. Recent updates include ’15 (new garage door/motor, kitchen remodel) ’16 (gutters whole house, outdoor deck) ’17 (new pool liner/painting) ’18 (new fence, paint kitchen cabinets/new hardware, new windows upstairs) ’20 (new pool motor, front landscaping, new Primary sink/counter, Primary wall design, new high-eff A/C for upstairs) No high water or flooding from storms per the sellers. Short walk to park & community pool. Great central location, energy corridor, great restaurants & shopping- Hwy 6 - Westpark - 99 - 90 - Bltwy 8
SEE MORE
- 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: Providence
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Providence
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,820 |
| EXPENSES | Loan Payment | -$922 |
| Property Tax | -$504 | |
| Property Insurance | -$188 | |
| HOA | -$29 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$78
|
||
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.
$249,999
PROJECTED PRICE
$1,820
PROJECTED RENT
0.73%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 7.1% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$72,000
LOAN DETAILS
$922
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $62,500 |
| Loan Amount | $187,499 |
3.5
YEARS SAVED
$9,339
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,820
LIST RENT -
$0.65
LIST RENT PER SQFT
-
$1,761
COMP ESTIMATED VALUE -
$0.63
COMP AVG. RENT PER SQFT
Comps Range
-
14839 Delbarton Drive Houston, TX 5
- 5 beds 3 baths ∙ 2,784 Sqft ∙ Built 1982 5 beds 3 baths ∙ 2,784 Sqft ∙ Built 1982
- Rent
- Rent Per SQFT
- $1,820
- $0.65
-
15415 La Paloma Drive Houston, TX 1
- 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 1981
LEASED 07/02/20- Rent
- Rent Per SQFT
- $1,700
- $0.60
-
16111 Soaring Eagle Drive Houston, TX 2
- 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2002
LEASED 01/28/20- Rent
- Rent Per SQFT
- $1,700
- $0.65
-
8914 Norham Drive Houston, TX 3
- 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 1997
LEASED 02/17/20- Rent
- Rent Per SQFT
- $1,700
- $0.63
-
14307 Berrington Drive Houston, TX 4
- 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 1996
LEASED 03/31/20- Rent
- Rent Per SQFT
- $1,800
- $0.65
PROPERTY LISTING DETAILS
1.281.961.0700
Keller Williams Premier Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 94841309
Last Updated: 11/14/2020
