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16022 Upshire Street Channelview, TX 77530

3 Beds 2 Baths 1,268 sqft Built 1980

$155,000

List Price

$1,280

$1.2K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $122.24
  • 18 Days on Market
  • MLS # : 94769177
  • Updated Date : 12/12/2020 at 12:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,268 sqft
  • Baths : 2 full
Listing Agent

Ashoka Lion

Listing Agent's Description

Property received a quick renovation to be ready for the holidays! Years of documented maintenance and an included warranty make this house ready to be your worry-free family home for the new year! Enjoy fresh a fresh start with stylish paint. 2021 will be a fantastic year in an established neighborhood, with a sturdy 3 bedroom 2 bath home. Large living area. Tile throughout the entire home for easy cleaning. Big kitchen has a picture window showcasing the large back yard for more family fun. (Want a coop for chickens or bunnies? You've got it! Want to keep the bonus structure for a playhouse or storage instead? As you wish! Want it gone? Sure thing!) 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

Neighborhood: Old River Acres

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $66k222k

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

Neighborhood: Old River Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6721677

* 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
Channelview High School High Regular 2,319 130 4

Channelview High School

  • Education Level: High
  • # of students: 2,319
  • # of teachers: 130
4
GreatSchools Rating
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,152$1,408$1,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,280
EXPENSES Loan Payment -$572
Property Tax -$339
Property Insurance -$113
Property Management Fees -$99
CASH FLOW
$157

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.

$155,000

PROJECTED PRICE

$1,280

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.4%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$16,923

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,280

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,335

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2503$1,2804$1,3005$1,300
$1,300
RENT COMPS ANALYSIS
  • 16022 Upshire Street Channelview, TX 3
    • 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,268 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $1.01
    •  
  • 1106 Greencroft Street Channelview, TX 1
    • 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,137 Sqft ∙ Built 1999
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.06
    •  
  • 1114 Greencroft Street Channelview, TX 2
    • 4 beds 1 baths ∙ 1,290 Sqft ∙ Built 1995 4 beds 1 baths ∙ 1,290 Sqft ∙ Built 1995
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.97
    •  
  • 16023 Upshire Street Channelview, TX 4
    • 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,121 Sqft ∙ Built 1980
    property image
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.16
    •  
  • 15537 Woodforest Boulevard Channelview, TX 5
    • 3 beds 1 baths ∙ 1,273 Sqft ∙ Built 1965 3 beds 1 baths ∙ 1,273 Sqft ∙ Built 1965
    property image
    LEASED 04/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jay Raman
1.832.295.0541
Ashoka Lion
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 94769177
Last Updated: 12/12/2020
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