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

16111 Forecastle Street Crosby, TX 77532

3 Beds 2 Baths 1,472 sqft Built 2002

$189,900

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $129.01
  • 3 Days on Market
  • MLS # : 18658718
  • Updated Date : 03/20/2021 at 17:51
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,472 sqft
  • Baths : 2 full
Listing Agent

Blackshear Realty

Listing Agent's Description

Beautiful home in the highly popular Newport Subdivision. Enjoy evenings out on your large covered patio with a built in kitchen and cement countertops, propane cooktop, sink, and refrigerator. This is the perfect spot if you love entertaining and spending your evenings relaxing or cooking outside. Once inside, you will feel right at home with an open spacious floor plan. The master suite is tucked away all to itself with a spacious master bath and walk in closet. The kitchen has a separate island nook with storage and space for additional seating! With beautiful glossy wood floors throughout living area and a cozy fireplace, this home has so much to offer! Book your showing today!

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: 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
 

$170,910$208,890$189,900

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$660
Property Tax -$454
Property Insurance -$127
HOA -$50
Property Management Fees -$99
CASH FLOW
$121

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.

$189,900

PROJECTED PRICE

$1,510

PROJECTED RENT

0.80%

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$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$56,074

INVESTMENT

$56,074

Down Payment
$47,475
Rehab Estimate
$5,750
Closing Costs
$2,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$660

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,475
Loan Amount $142,425
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$9,232

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,509

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,4993$1,5104$1,6005$1,600
$1,600
RENT COMPS ANALYSIS
  • 16111 Forecastle Street Crosby, TX 3
    • 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,472 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $1.03
    •  
  • 6202 Borage Street Crosby, TX 1
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2009
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.03
    •  
  • 16306 Ulysses Street Crosby, TX 2
    • 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,545 Sqft ∙ Built 1983
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.97
    •  
  • 16711 Jib Court Crosby, TX 4
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2003
    LEASED 01/25/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 6131 Borage Street Crosby, TX 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2007
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Summer Land
1.713.870.5621
Blackshear Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 18658718
Last Updated: 03/20/2021
BESbswy