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15342 Reigate Lane Channelview, TX 77530

3 Beds 2 Baths 1,341 sqft Built 1980

$155,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $115.59
  • 5 Days on Market
  • MLS # : 22680844
  • Updated Date : 02/10/2021 at 17:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,341 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

BEAUTIFUL one-story home located in Channelview, TX !! This home is located close to many restaurants, shopping areas, and entertainment with quick access to Beltway-8 and IH-10!! It features 3 Bedrooms, 2 Bathrooms, tile flooring, updated kitchen. It has 1,341 sq/ft with a cozy spacious living room & backyard!! Come take a look at YOUR future home! Schedule your private showing today!! Seller has a survey. Primary Bedroom does NOT have a light fixture installed.

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: Sterling Green

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k222k

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

Neighborhood: Sterling Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7581677

* 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
Channelview High School High Regular 2,319 130 4

Channelview High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 130
4
GreatSchools Rating
 

$139,500$170,500$155,000

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 -$538
Property Tax -$369
Property Insurance -$118
HOA -$23
Property Management Fees -$99
CASH FLOW
$233

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.

$155,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.89%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.9%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$538

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

9.42

YEARS SAVED

$20,468

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
  • $1.03

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $1.12

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,3503$1,3804$1,4255$1,425
$1,425
RENT COMPS ANALYSIS
  • 15342 Reigate Lane Channelview, TX 3
    • 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,341 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $1.03
    •  
  • 1506 Wrotham Lane Channelview, TX 1
    • 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,203 Sqft ∙ Built 1983
    LEASED 02/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $1.10
    •  
  • 15326 Cheshunt Lane Channelview, TX 2
    • 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,162 Sqft ∙ Built 1979
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.16
    •  
  • 15351 Battersea Gardens Drive Channelview, TX 4
    • 4 beds 2 baths ∙ 1,303 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,303 Sqft ∙ Built 1980
    LEASED 12/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.09
    •  
  • 15318 Reigate Lane Channelview, TX 5
    • 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,287 Sqft ∙ Built 1979
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.11
    •  
PROPERTY LISTING DETAILS
Alexander Valero
1.832.260.9954
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22680844
Last Updated: 02/10/2021
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