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1522 Ridgebriar Drive Houston, TX 77014

3 Beds 2 Baths 1,597 sqft Built 1983

$154,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1983
  • Price/Sqft : $96.99
  • 2 Days on Market
  • MLS # : 57503214
  • Updated Date : 11/03/2020 at 00:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,597 sqft
  • Baths : 2 full
Listing Agent

Champions Real Estate Group

Listing Agent's Description

Light and bright home in good location with open floor plan, High ceilings, lots windows.updated Kitchen with lots of granite countertops, Recent Appliances, spacious master bedroom with walk in shower and bathtub, double sinks and lots of drawers and cabinets, recent energy efficient A/C system,double pane windows and recent Siding and exterior doors. recent water Heater, recent roof. Large Storage room in the back gives lots of options for a work shop or exercise room

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: Cranbrook

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Cranbrook

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Bf. Clark Primary School Primary Regular NA
Stelle Claughton Middle School Middle Regular 1,098 63 3
Andy Dekaney High School High Regular 2,855 163 2

Bf. Clark Primary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Stelle Claughton Middle School

  • Education Level: Middle
  • # of students: 1,098
  • # of teachers: 63
3
GreatSchools Rating

Andy Dekaney High School

  • Education Level: High
  • # of students: 2,855
  • # of teachers: 163
2
GreatSchools Rating
 

$139,410$170,390$154,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$572
Property Tax -$385
Property Insurance -$135
HOA -$33
Property Management Fees -$99
CASH FLOW
$117

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.

$154,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 5.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,799

INVESTMENT

$46,799

Down Payment
$38,725
Rehab Estimate
$5,750
Closing Costs
$2,324

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,725
Loan Amount $116,175
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$11,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,473

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3503$1,3504$1,3955$1,500
$1,500
RENT COMPS ANALYSIS
  • 1522 Ridgebriar Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,597 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.84
    •  
  • 1631 Clear Valley Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1990
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.91
    •  
  • 13551 Forest Pines Village Lane Houston, TX 3
    • 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,587 Sqft ∙ Built 2003
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.85
    •  
  • 13819 Beckwith Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
  • 13914 Beckwith Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1983
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Amir Salehian
1.281.221.7253
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 57503214
Last Updated: 11/03/2020
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