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14906 N Eldridge Parkway Houston, TX 77070

4 Beds 3 Baths 2,596 sqft Built 1980

$235,000

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $90.52
  • 2 Days on Market
  • MLS # : 23989530
  • Updated Date : 11/02/2020 at 10:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,596 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Integrity

Listing Agent's Description

Stunning Home w/ Cathedral Ceiling in Family Room w/Wood Beams & Hardwood Floors! Rope Lighting In Living Room, 2 Wet Bars/1 Down & 1 Up in game room! NEWER ROOF only 5 years old! UPGRADED Kitchen w/GRANITE Countertops, Travertine Backsplash, Travertine Floors in Kitchen and Breakfast Room, Black Appliance Package w/Side by Side Fridge Included in Price and New Dishwasher! Breakfast Room/Bar, Huge Walk in Pantry, Formal Dining w/Wood Floors, HUGE Master bedroom w/UPDATED Bathroom and Hardwood Floors! Freshly Painted throughout, New 2 inch blinds throughout, NEW CARPET and Padding installed July 2020, Acclaimed Cypress ISD! Huge yard and oversized garage!Community Pool and Park within walking distance! Perfect Location! NEVER FLOODED!

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: Hunterwood Forest

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Hunterwood Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Hamilton Elementary School Primary Regular 966 53 9
Hamilton Middle School Middle Regular 1,641 89 10
Cypress Creek High School High Regular 3,161 199 7

Hamilton Elementary School

  • Education Level: Primary
  • # of students: 966
  • # of teachers: 53
9
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,641
  • # of teachers: 89
10
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$867
Property Tax -$529
Property Insurance -$203
HOA -$58
Property Management Fees -$99
CASH FLOW
$94

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.

$235,000

PROJECTED PRICE

$1,850

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$8,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,856

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8503$1,9004$1,9505$1,975
$1,975
RENT COMPS ANALYSIS
  • 14906 N Eldridge Parkway Houston, TX 2
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 12315 Christy Mill Court Houston, TX 1
    • 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,472 Sqft ∙ Built 1979
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.69
    •  
  • 14719 Cedar Point Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1975
    property image
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.70
    •  
  • 12127 Rocky Lake Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 1982
    property image
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 14619 Forest Lodge Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 1983
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.73
    •  
PROPERTY LISTING DETAILS
Holly Rosser
1.832.631.0651
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 23989530
Last Updated: 11/02/2020
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