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15035 Tramore Drive Houston, TX 77083

4 Beds 2 Baths 2,361 sqft Built 1985

$255,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1985
  • Price/Sqft : $108.01
  • 4 Days on Market
  • MLS # : 25977799
  • Updated Date : 01/22/2021 at 09:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,361 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Picture perfect home in highly sought after Providence subdivision. MOVE IN READY! Gorgeous tile in main living areas and primary bedroom. Vaulted ceilings make this already roomy house feel even bigger. Brand new carpet in the other bedrooms. The primary bathroom has a gorgeous walk in shower, and plenty of closet space. The kitchen is a dream! Open concept with quartz countertops, stainless steel appliances and pantry. Backyard has a fire pit, patio, and your very own fruit tree.! Per seller new AC/Furnace 2020, roof 2015 and windows 2014. All rooms sizes are approximate. Do not miss this one!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Providence

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Providence

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
Fleming Elementary School Primary Regular 728 49 5
Hodges Bend Middle School Middle Regular 1,169 67 5
Kempner High School High Regular 2,397 124 7

Fleming Elementary School

  • Education Level: Primary
  • # of students: 728
  • # of teachers: 49
5
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Kempner High School

  • Education Level: High
  • # of students: 2,397
  • # of teachers: 124
7
GreatSchools Rating
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$886
Property Tax -$504
Property Insurance -$163
HOA -$27
Property Management Fees -$99
CASH FLOW
$21

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.

$255,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$886

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,050

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,729

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7004$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 15035 Tramore Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 1985 4 beds 2 baths ∙ 2,361 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 9102 Kendale Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,265 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,265 Sqft ∙ Built 2005
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 9135 Knightsland Trail Houston, TX 2
    • 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,432 Sqft ∙ Built 2000
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.70
    •  
  • 8930 High Haven Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 1987
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 9107 Knightsland Trail Houston, TX 5
    • 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,420 Sqft ∙ Built 2000
    LEASED 01/10/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
PROPERTY LISTING DETAILS
Ashley Monachelli
1.832.906.0320
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25977799
Last Updated: 01/22/2021
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