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16507 Quail Meadow Drive Houston, TX 77489

3 Beds 2 Baths 1,448 sqft Built 1983

$179,999

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $124.31
  • 4 Days on Market
  • MLS # : 83073625
  • Updated Date : 01/23/2021 at 13:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,448 sqft
  • Baths : 2 full
Listing Agent

Ca Modern Realty, Llc

Listing Agent's Description

Stunning one story 3 bedroom & 2 bathroom brick home. TOTALLY UPGRADED! NEW 2021 ROOF, NEW EXTERIOR AND INTERIOR PAINT, NEW FLOORING, and ALL NEW APPLIANCES. Open floor plan with fireplace. Nice white beautiful kitchen with new quartz countertops, exquisite backslash, and tall white cabinets. Master bath is upgraded with new vanity & walk-in closet! You can enjoy the back patio with fully fenced back yard, and much more! Great neighborhood. Easy access to restaurants, shopping areas, Fort Bend toll road, and more. It's Move in Ready, so Pack Your Bags, This Is It!!

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: Quail Run

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $72k274k

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

Neighborhood: Quail Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9021788

* 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
Glover Elementary School Primary Regular 565 40 3
Missouri City Middle School Middle Regular 1,116 79 3
Marshall High School High Regular 1,242 93 2

Glover Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 40
3
GreatSchools Rating

Missouri City Middle School

  • Education Level: Middle
  • # of students: 1,116
  • # of teachers: 79
3
GreatSchools Rating

Marshall High School

  • Education Level: High
  • # of students: 1,242
  • # of teachers: 93
2
GreatSchools Rating
 

$161,999$197,999$179,999

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$625
Property Tax -$356
Property Insurance -$111
HOA -$34
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.

$179,999

PROJECTED PRICE

$1,330

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
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

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $134,999
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$9,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,321

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3303$1,3994$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 16507 Quail Meadow Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,448 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.92
    •  
  • 16711 Lonesome Quail Drive Missouri City, TX 1
    • 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,329 Sqft ∙ Built 1980
    LEASED 01/07/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.94
    •  
  • 2623 Indian Trail Drive Missouri City, TX 3
    • 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,554 Sqft ∙ Built 1981
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.90
    •  
  • 16703 Quail Briar Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,612 Sqft ∙ Built 1980
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 16527 Quail Prairie Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,644 Sqft ∙ Built 1980
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
PROPERTY LISTING DETAILS
Candice Harris
1.713.417.3702
Ca Modern Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83073625
Last Updated: 01/23/2021
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