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

15827 Cambridge View Drive Friendswood, TX 77546

3 Beds 2 Baths 1,621 sqft Built 1989

$215,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $132.63
  • 3 Days on Market
  • MLS # : 58115693
  • Updated Date : 02/06/2021 at 12:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,621 sqft
  • Baths : 2 full
Listing Agent

Entourage Real Estate

Listing Agent's Description

This home boasts of a beautiful floor plan with a cozy fireplace, a large kitchen, a living room with soaring ceilings, fresh interior and exterior paint and laminate and tile flooring throughout. Updates include a recent roof (2016) and A/C unit (2019).

SEE MORE

MARKET HIGHLIGHTS

  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10102091

* 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
Wedgewood Elementary School Primary Regular 795 47 6
Brookside Intermediate School Middle Regular 802 51 5
Clear Brook High School High Regular 2,335 153 7

Wedgewood Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 47
6
GreatSchools Rating

Brookside Intermediate School

  • Education Level: Middle
  • # of students: 802
  • # of teachers: 51
5
GreatSchools Rating

Clear Brook High School

  • Education Level: High
  • # of students: 2,335
  • # of teachers: 153
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$747
Property Tax -$436
Property Insurance -$137
HOA -$28
Property Management Fees -$99
CASH FLOW
$193

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.

$215,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$15,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,662

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,640
1$1,6402$1,6953$1,6954$1,8005$1,800
$1,800
RENT COMPS ANALYSIS
  • 15827 Cambridge View Drive Friendswood, TX 1
    • 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1989 3 beds 2 baths ∙ 1,621 Sqft ∙ Built 1989
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $1.01
    •  
  • 15815 Constitution Lane Friendswood, TX 2
    • 4 beds 2 baths ∙ 1,767 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,767 Sqft ∙ Built 1989
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 15830 Cambridge View Drive Friendswood, TX 3
    • 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,640 Sqft ∙ Built 1990
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.03
    •  
  • 4902 Five Knolls Drive Friendswood, TX 4
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 1991
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
  • 5011 Shady Oaks Lane Friendswood, TX 5
    • 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 1973 4 beds 2 baths ∙ 1,670 Sqft ∙ Built 1973
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.08
    •  
PROPERTY LISTING DETAILS
Marla Lewis
1.832.868.6091
Entourage Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 58115693
Last Updated: 02/06/2021
BESbswy