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16143 April Ridge Drive Houston, TX 77083

4 Beds 3 Baths 2,611 sqft Built 1998

$245,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $93.83
  • 2 Days on Market
  • MLS # : 51864821
  • Updated Date : 01/16/2021 at 18:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,611 sqft
  • Baths : 2 full , 1 half
Listing Agent

Turbo Realty Of Texas

Listing Agent's Description

Magnificent 2 story home for sale in Mission Glen Estates. Built in a cul de sac, this 4 bedroom 2.5 bath home boasts with personality! As you enter the home, you will see a formal family room which also opens up to the formal dining room. The first floor has two family rooms, the other is around the corner where it opens up to the breakfast/kitchen. Enjoy a marble tiled fireplace on these cold days! Once you arrive at the top of the staircase, you enter a large open space which could be used as a gameroom/tv room/study. Four bedrooms are upstairs, flooring consists of wood laminate throughout and tile in the bathrooms. Primary bathroom has separate tub/shower. The large walk in closet is quite spacious! Outside in the back yard, you have a few fruit trees to enjoy! Schedule your tour 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: Mission Glen Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Mission Glen Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9691677

* 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
Mission Glen Elementary School Primary Regular 493 39 4
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Mission Glen Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 39
4
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Bush High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 112
6
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$851
Property Tax -$506
Property Insurance -$178
HOA -$33
Property Management Fees -$99
CASH FLOW
$63

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.

$245,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.1%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.66

    LIST RENT PER SQFT
  • $1,815

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,7003$1,7304$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 16143 April Ridge Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,611 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.66
    •  
  • 8234 Worthington Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 1991
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.66
    •  
  • 8415 Spotslyvania Lane Houston, TX 2
    • 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,574 Sqft ∙ Built 2003
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.66
    •  
  • 8202 Cliffshire Court Houston, TX 4
    • 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,655 Sqft ∙ Built 1999
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
  • 16258 Mission Glen Drive Houston, TX 5
    • 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 1995 4 beds 2 baths ∙ 2,442 Sqft ∙ Built 1995
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.76
    •  
PROPERTY LISTING DETAILS
Stacy Johnson
1.832.378.8999
Turbo Realty Of Texas
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 51864821
Last Updated: 01/16/2021
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