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PROPERTY INFO
FACTS
- Single Family
- Built In 2019
- Price/Sqft : $118.42
- 2 Days on Market
- MLS # : 41022484
- Updated Date : 12/26/2020 at 12:45
CONSTRUCTION
- Beds : 3
- Floor Size : 1,688 sqft
- Baths : 2 full
Listing Agent
Century 21 Garlington & Assoc.
Listing Agent's Description
ALMOST NEW BEAUTIFUL 3 BEDROOMS - 2 FULL BATHS - KITCHEN WITH GRANITE COUNTERTOPS - LARGE GRANITE ISLAND WITH BAR AREA FOR EATING. THIS NEWER HOME WON'T LAST. LOCATED IN AWESOME SUBDIVSION!!
SEE MORE
- 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: Newport
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Newport
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,780 |
| EXPENSES | Loan Payment | -$738 |
| Property Tax | -$533 | |
| Property Insurance | -$141 | |
| HOA | -$50 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$219
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$199,900
PROJECTED PRICE
$1,780
PROJECTED RENT
0.89%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 8.4% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 8.80% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$54,974
LOAN DETAILS
$738
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $49,975 |
| Loan Amount | $149,925 |
7.08
YEARS SAVED
$21,449
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,780
LIST RENT -
$1.05
LIST RENT PER SQFT
-
$1,781
COMP ESTIMATED VALUE -
$1.06
COMP AVG. RENT PER SQFT
Comps Range
-
15630 E Galley Drive Crosby, TX 4
- 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,688 Sqft ∙ Built 2019
![property image]()
- Rent
- Rent Per SQFT
- $1,780
- $1.05
-
6030 Lovage Avenue Crosby, TX 1
- 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2009
![property image]()
LEASED 12/01/19- Rent
- Rent Per SQFT
- $1,450
- $1.06
-
6131 Borage Street Crosby, TX 2
- 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2007
![property image]()
LEASED 07/06/20- Rent
- Rent Per SQFT
- $1,600
- $1.00
-
16130 Spinnaker Drive Crosby, TX 3
- 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 2017
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,650
- $1.07
-
15627 E Galley Drive Crosby, TX 5
- 3 beds 3 baths ∙ 1,834 Sqft ∙ Built 2019 3 beds 3 baths ∙ 1,834 Sqft ∙ Built 2019
![property image]()
LEASED 12/18/20- Rent
- Rent Per SQFT
- $2,000
- $1.09
PROPERTY LISTING DETAILS
1.281.773.3628
Century 21 Garlington & Assoc.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 41022484
Last Updated: 12/26/2020
