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

15931 Newport Place Crosby, TX 77532

4 Beds 2 Baths 1,833 sqft Built 2018

$199,999

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $109.11
  • 16 Days on Market
  • MLS # : 71738431
  • Updated Date : 11/11/2020 at 10:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,833 sqft
  • Baths : 2 full
Listing Agent

Abby Realty

Listing Agent's Description

Enjoy your new home in this quiet Crosby community! This spacious one-story home sits on the tranquil neighborhood of Newport, just minutes away from your favorite shopping areas. The open concept kitchen includes stainless steel appliances, granite countertops, and crown molding. The breakfast room by the kitchen exhibits a bay window which allows plenty of natural light to enter. The living room has been freshly painted and features beautiful French doors that open to a room which can be used as a bedroom or study. The primary bedroom contains French doors leading to the backyard. It also includes a private bathroom with a standing shower, large bathtub and grand walk-in closet. The home has an ample two-car attached garage and room for two more cars in the driveway. HOME HAS NEVER FLOODED. The Newport community includes golf courses, swimming pool, tennis courts, hike and bike trails, splash pad, and much more! Call to schedule your showing today!

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

Zip Code: 77532

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Zip Code: 77532

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8591677

* 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
Newport Elementary School Primary Regular 683 48 7
Crosby Middle School Middle Regular 809 50 6
Crosby Middle School High Regular 809 50 6

Newport Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 48
7
GreatSchools Rating

Crosby Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating

Crosby Middle School

  • Education Level: High
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating
 

$179,999$219,999$199,999

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$738
Property Tax -$478
Property Insurance -$151
HOA -$50
Property Management Fees -$99
CASH FLOW
$104

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.

$199,999

PROJECTED PRICE

$1,620

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.3%
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$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $149,999
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$11,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4503$1,5494$1,5505$1,620
$1,620
RENT COMPS ANALYSIS
  • 15931 Newport Place Crosby, TX 5
    • 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,833 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.88
    •  
  • 519 Aweigh Drive Crosby, TX 1
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2005
    LEASED 09/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 731 Aweigh Drive Crosby, TX 2
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2005
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 715 Pequin Road Crosby, TX 3
    • 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,806 Sqft ∙ Built 2010
    LEASED 01/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,549
    • $0.86
    •  
  • 6114 Borage Street Crosby, TX 4
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2017
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.93
    •  
PROPERTY LISTING DETAILS
Miriam Valencia
1.346.233.6958
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 71738431
Last Updated: 11/11/2020
BESbswy