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16155 Barbarossa Drive Houston, TX 77083

3 Beds 3 Baths 1,255 sqft Built 1982

INVESTimate

$169,900

List Price

$1,240

$1,116 - $1,364

Rent Est.

$182,082  ( +7.17%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $135.38
  • 7 Days on Market
  • MLS # : 40228532
  • Updated Date : 08/22/2020 at 11:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,255 sqft
  • Baths : 3 full
Listing Agent

Champions Real Estate Group

Listing Agent's Description

RARE FIND 3 BEDS WITH 3 FULL BATHROOMS: This home was completely renovated a year ago with Granite Counter tops in Kitchen and all 3 bathrooms. Rich Espresso Cabinets with stainless steel double sink, stainless steel dishwasher, Floors in dark high end laminate and tiles in kitchen and bathrooms. Recent water heater and security cameras all around. Extended driveway and walkway. Refrigerator Washer and Dryer included. Check it out before it is gone!!! Easy access to Highway 6 and West Park Tollway. Walk to Elementary school.

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 Bend San Miguel

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Mission Bend San Miguel

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8491677

* 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
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$627
Property Tax -$351
Property Insurance -$100
HOA -$12
Property Management Fees -$99
CASH FLOW
$52

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.

$169,900

PROJECTED PRICE

$1,240

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.17%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$8,635

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,211

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,240
1$1,2402$1,3503$1,4004$1,4005$1,400
$1,400
RENT COMPS ANALYSIS
  • 16155 Barbarossa Drive Houston, TX 1
    • 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,255 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.99
    •  
  • 8626 Elm Lake Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 1984
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 16407 Amargos Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,412 Sqft ∙ Built 1979
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 16115 Cereza Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1985
    property image
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
  • 7927 Manzano Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1984
    property image
    LEASED 06/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
PROPERTY LISTING DETAILS
Rohinton Aga
1.832.423.6973
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40228532
Last Updated: 08/22/2020
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