Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

15442 E El Padre Drive Houston, TX 77083

4 Beds 3 Baths 2,786 sqft Built 1980

$229,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $82.20
  • 5 Days on Market
  • MLS # : 84878545
  • Updated Date : 10/30/2020 at 14:26
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,786 sqft
  • Baths : 2 full , 1 half
Listing Agent

George Gayle Properties

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 North

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Mission Bend North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8641677

* 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
Miller Intermediate School Primary Regular 872 63 6
Albright Middle School Middle Regular 1,267 87 6
Hastings High School High Regular 3,890 260 4

Miller Intermediate School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 63
6
GreatSchools Rating

Albright Middle School

  • Education Level: Middle
  • # of students: 1,267
  • # of teachers: 87
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$206,100$251,900$229,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$845
Property Tax -$501
Property Insurance -$215
Property Management Fees -$99
CASH FLOW
$80

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.

$229,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.0%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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-$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$66,435

INVESTMENT

$66,435

Down Payment
$57,250
Rehab Estimate
$5,750
Closing Costs
$3,435

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$845

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,250
Loan Amount $171,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$9,346

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.62

    LIST RENT PER SQFT
  • $1,811

    COMP ESTIMATED VALUE
  • $0.65

    COMP AVG. RENT PER SQFT
Comps Range
$1,740
1$1,7402$1,7453$1,7504$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 15442 E El Padre Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,786 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.62
    •  
  • 14803 Mesa Vista Drive Houston, TX 2
    • 4 beds 4 baths ∙ 2,571 Sqft ∙ Built 1983 4 beds 4 baths ∙ 2,571 Sqft ∙ Built 1983
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $0.68
    •  
  • 7202 Granvia Drive Houston, TX 3
    • 4 beds 4 baths ∙ 2,733 Sqft ∙ Built 1978 4 beds 4 baths ∙ 2,733 Sqft ∙ Built 1978
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.64
    •  
  • 6914 Escondido Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1978 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 1978
    property image
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.66
    •  
  • 14814 Camino Rancho Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 1983
    property image
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.62
    •  
PROPERTY LISTING DETAILS
George Gayle
1.281.660.9440
George Gayle Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84878545
Last Updated: 10/30/2020
BESbswy