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

1627 Park Harbor Estates Drive Houston, TX 77084

4 Beds 3 Baths 2,836 sqft Built 1999

$265,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $93.76
  • 2 Days on Market
  • MLS # : 54660825
  • Updated Date : 11/21/2020 at 12:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,836 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas United Realty

Listing Agent's Description

LOCATION!! Easy access to I-10 and the Energy Corridor! KATY SCHOOLS! This move-in ready, gorgeous home on a quiet cul de sac has it all! As you enter the front door you will love the versatile floor plan and light in every room. Large open formal living and dining room. A wonderful space to entertain family and friends on the Holidays, with a big kitchen and plenty of storage. A large living area with a beautiful fireplace surrounded by tall windows over looking the relaxing back yard with a beautiful and spacious covered patio, a pool, and a fire pit. Private primary suite with a huge bathroom featuring a shower, spa tub and walking closet. Upstairs you will find 3 bedrooms. A game room that can be also used as an office or schooling room. Laundry room and a huge storage space. This private home has no back neighbors, and did not flood during Harvey.

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: Park Harbor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k302k

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

Neighborhood: Park Harbor Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9691880

* 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
Mayde Creek Elementary School Primary Regular 767 55 5
Mayde Creek Junior High School Middle Regular 1,141 84 8
Mayde Creek High School High Regular 2,755 158 7

Mayde Creek Elementary School

  • Education Level: Primary
  • # of students: 767
  • # of teachers: 55
5
GreatSchools Rating

Mayde Creek Junior High School

  • Education Level: Middle
  • # of students: 1,141
  • # of teachers: 84
8
GreatSchools Rating

Mayde Creek High School

  • Education Level: High
  • # of students: 2,755
  • # of teachers: 158
7
GreatSchools Rating
 

$239,310$292,490$265,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$981
Property Tax -$561
Property Insurance -$219
HOA -$25
Property Management Fees -$99
CASH FLOW
$105

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.

$265,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.0%
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$12k

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$76,214

INVESTMENT

$76,214

Down Payment
$66,475
Rehab Estimate
$5,750
Closing Costs
$3,989

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$981

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,475
Loan Amount $199,425
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,112

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,184

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9903$2,1504$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 1627 Park Harbor Estates Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,836 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.70
    •  
  • 1523 Park Harbor Estates Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,494 Sqft ∙ Built 2000
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.72
    •  
  • 1714 Lake Harbor Way Circle Houston, TX 3
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 1995
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.74
    •  
  • 19115 Packerton Court Houston, TX 4
    • 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,722 Sqft ∙ Built 1996
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
  • 223 Wild Oak Run Houston, TX 5
    • 3 beds 3 baths ∙ 2,832 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,832 Sqft ∙ Built 1997
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lucia Santa Cruz
1.281.777.2062
Texas United Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 54660825
Last Updated: 11/21/2020
BESbswy