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15211 Lindita Drive Houston, TX 77083

3 Beds 3 Baths 1,924 sqft Built 1982

$219,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $113.83
  • 4 Days on Market
  • MLS # : 44195640
  • Updated Date : 01/28/2021 at 16:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,924 sqft
  • Baths : 2 full , 1 half
Listing Agent

Ab Realty Corp

Listing Agent's Description

TWO-STORY HOUSE READY TO MOVE IN WITH A BEAUTIFUL LARGE BACKYARD FOR MANY POTENTIALS, COVERED PATIO, COZY FAMILY ROOM WITH CEILING FANS AND FIREPLACE, FORMAL DINING, BREAKFAST, KITCHEN HAS TILE FLOORING, BUILT-IN MICROWAVE AND GRANITE COUNTERTOP, ONE SMALL ROOM DOWNSTAIR CAN BE A GUEST ROOM OR STUDY, NICE BATHROOM WITH BOWL HIS/HER VANITIES. GREAT LOCATION, EASY ACCESS TO HIGHWAY 6, WESTPARK TOLLROAD AND I-10.

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: Mission Bend San Miguel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Mission Bend San Miguel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8491677

* 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
Mission Bend Elementary School Primary Regular 839 55 5
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Mission Bend Elementary School

  • Education Level: Primary
  • # of students: 839
  • # of teachers: 55
5
GreatSchools Rating

Hodges Bend Middle School

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

Bush High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 112
6
GreatSchools Rating
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$761
Property Tax -$382
Property Insurance -$138
HOA -$33
Property Management Fees -$99
CASH FLOW
$37

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.

$219,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.2%
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$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,486

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,506

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4494$1,4495$1,450
$1,450
RENT COMPS ANALYSIS
  • 15211 Lindita Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,924 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.75
    •  
  • 15214 Loma Paseo Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1981
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.75
    •  
  • 15618 Barbarossa Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,766 Sqft ∙ Built 1981
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.79
    •  
  • 15307 Gran Vista Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 1981
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.76
    •  
  • 15310 Wildwood Lake Drive Houston, TX 4
    • 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,736 Sqft ∙ Built 1983
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.83
    •  
PROPERTY LISTING DETAILS
Christine Nguyen
1.281.568.9988
Ab Realty Corp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44195640
Last Updated: 01/28/2021
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