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16711 Rock East Drive Houston, TX 77073

4 Beds 3 Baths 1,892 sqft Built 1995

$175,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $92.49
  • 3 Days on Market
  • MLS # : 10506134
  • Updated Date : 11/14/2020 at 08:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,892 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Beautifully maintained 4 BR / 2.5 Bath with well landscaped and shaded backyard! Huge 20x15 LR can host even the largest family events. The primary BR is also large, but the walk-in closet is massive! An extra flex space upstairs can be a game room, office, play area, or any other use you may need. Utility room is conveniently located in the middle of all 4 bedrooms. A/C is only 4 years old, and all the windows were replaced and upgraded just a few years ago. The neighborhood includes area pool for summer relaxation. This home is immaculate and ready for a new owner. This home is priced right at market value for a quick sale! Book your showing 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

Zip Code: 77073

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Zip Code: 77073

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8981677

* 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
Meyer Elementary School Primary Regular 660 49 5
Rickey C. Bailey Middle School Middle Regular 1,238 72 4
Andy Dekaney High School High Regular 2,855 163 2

Meyer Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 49
5
GreatSchools Rating

Rickey C. Bailey Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 72
4
GreatSchools Rating

Andy Dekaney High School

  • Education Level: High
  • # of students: 2,855
  • # of teachers: 163
2
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$646
Property Tax -$455
Property Insurance -$155
HOA -$33
Property Management Fees -$99
CASH FLOW
$102

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.

$175,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$10,166

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,490

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4503$1,4904$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 16711 Rock East Drive Houston, TX 3
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.79
    •  
  • 16410 N Cross Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,709 Sqft ∙ Built 1982
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 739 N Oak Drive Houston, TX 2
    • 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,760 Sqft ∙ Built 2000
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 16515 N Mist Drive Houston, TX 4
    • 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1997 4 beds 3 baths ∙ 1,892 Sqft ∙ Built 1997
    LEASED 11/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 626 Danbury Park Lane Houston, TX 5
    • 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,081 Sqft ∙ Built 2003
    LEASED 02/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
PROPERTY LISTING DETAILS
Kyle Bergeron
1.713.501.9868
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10506134
Last Updated: 11/14/2020
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