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15226 Barbarossa Drive Houston, TX 77083

3 Beds 2 Baths 1,431 sqft Built 1982

$194,999

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $136.27
  • 6 Days on Market
  • MLS # : 81248621
  • Updated Date : 01/27/2021 at 11:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,431 sqft
  • Baths : 2 full
Listing Agent

Trini J & Commerxial Re

Listing Agent's Description

Live with comfort and style! This properties cozy and warm feeling invites its new owners to enjoy the updates as a perfect starter home for their family. Proportional three bedroom, two bath residence offers fresh paint inside and out, zero carpet on the floors, appealing granite counter tops. Near by eateries and convenient access to highway 6.Schedule your tour, because this wont last long!

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 Glen Elementary School Primary Regular 493 39 4
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Mission Glen Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 39
4
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
 

$175,499$214,499$194,999

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$677
Property Tax -$340
Property Insurance -$110
HOA -$38
Property Management Fees -$99
CASH FLOW
$116

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.

$194,999

PROJECTED PRICE

$1,380

PROJECTED RENT

0.71%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,249
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$12,626

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,406

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,375
1$1,3752$1,3803$1,4504$1,4955$1,499
$1,499
RENT COMPS ANALYSIS
  • 15226 Barbarossa Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.96
    •  
  • 8211 Valeta Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,431 Sqft ∙ Built 1981
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.96
    •  
  • 8218 Viny Ridge Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1993
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.00
    •  
  • 15314 Wildwood Lake Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1983
    LEASED 10/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 15330 Lindita Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,488 Sqft ∙ Built 1982
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $1.01
    •  
PROPERTY LISTING DETAILS
Hung Dang
1.713.320.8265
Trini J & Commerxial Re
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 81248621
Last Updated: 01/27/2021
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