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

16002 Audie Lee Court Crosby, TX 77532

4 Beds 4 Baths 2,406 sqft Built 2016

$249,999

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $103.91
  • 4 Days on Market
  • MLS # : 23224571
  • Updated Date : 02/25/2021 at 15:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,406 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max East

Listing Agent's Description

Luxurious and livable, this remarkable 1.5-story home boasts an open floor plan showcasing beautiful wood floors, expansive windows, tray ceilings, grand entry, crown molding, and neutral paint palette. A light, bright kitchen with oversized Island, stunning cabinetry, granite countertops, handsome backsplash, walk in pantry, gas cooktop and more.. This space flows seamlessly into a substantial living room for family living or entertaining w/ sophisticated decor which opens to the dining. An inviting owner’s retreat with an impressive design, modern tub, elegant shower, and large walk-in closet, provides everything needed for private rest and relaxation. Desirable 4 bedrooms down and huge game room up w/ half bath complete this amazing home. This fine property with large backyard & sizable screened in patio offers a peaceful & private setting. Special features include: lawn sprinkler, rain gutters,granite in all baths,gas stub on patio and more. A must see to fully appreciate this gem!

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: Newport

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $89k222k

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

Neighborhood: Newport

NeighborhoodNIR 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 High School High Regular 1,580 98 4

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 High School

  • Education Level: High
  • # of students: 1,580
  • # of teachers: 98
4
GreatSchools Rating
 

$224,999$274,999$249,999

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$868
Property Tax -$598
Property Insurance -$190
HOA -$55
Property Management Fees -$99
CASH FLOW
$210

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.

$249,999

PROJECTED PRICE

$2,020

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.4%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,500
Loan Amount $187,499
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$15,910

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,020

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,021

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7754$2,0205$2,030
$2,030
RENT COMPS ANALYSIS
  • 16002 Audie Lee Court Crosby, TX 4
    • 4 beds 4 baths ∙ 2,406 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,406 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.84
    •  
  • 702 Neap Court Crosby, TX 1
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 6215 Borage Street Crosby, TX 2
    • 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,290 Sqft ∙ Built 2009
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 17310 Morning Star Avenue Crosby, TX 3
    • 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 2003
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 1319 Tee Time Court Crosby, TX 5
    • 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2016 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2016
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.93
    •  
PROPERTY LISTING DETAILS
Tina Whalen
1.713.451.1733
Re/max East
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 23224571
Last Updated: 02/25/2021
BESbswy