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16930 Applecross Lane Houston, TX 77084

3 Beds 2 Baths 1,608 sqft Built 1983

$180,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $111.94
  • 4 Days on Market
  • MLS # : 10219729
  • Updated Date : 02/05/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Welcome to 16930 Applecross Ln located in Glencairn community & zoned to Cypress-Fairbanks ISD! This beautiful home features 3 bedrooms, & 2 full baths. As you walk inside you are welcomed by a formal living room with tile floors, a beautiful custom kitchen with granite countertops, appliances & ample space for storage. Extended cover patio in the backyard perfect for entertaining. Call to book your private tour today!

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: Glencairn

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Glencairn

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8171677

* 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
Tipps Elementary School Primary Regular 1,167 64 6
Watkins Middle School Middle Regular 1,305 78 5
Cypress Lakes High School High Regular 3,599 210 5

Tipps Elementary School

  • Education Level: Primary
  • # of students: 1,167
  • # of teachers: 64
6
GreatSchools Rating

Watkins Middle School

  • Education Level: Middle
  • # of students: 1,305
  • # of teachers: 78
5
GreatSchools Rating

Cypress Lakes High School

  • Education Level: High
  • # of students: 3,599
  • # of teachers: 210
5
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$625
Property Tax -$380
Property Insurance -$136
HOA -$27
Property Management Fees -$99
CASH FLOW
$132

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.

$180,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.3%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$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

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 $135,000
See What Happens When You Reinvest Cash Flow

6

YEARS SAVED

$12,160

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,415

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4253$1,4354$1,4955$1,535
$1,535
RENT COMPS ANALYSIS
  • 16930 Applecross Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 16902 Applecross Lane Houston, TX 2
    • 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,680 Sqft ∙ Built 1983
    property image
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.85
    •  
  • 5326 Santrey Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,619 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,619 Sqft ∙ Built 1984
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.89
    •  
  • 5618 Gaffney Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2002
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.83
    •  
  • 17014 Carbridge Drive Houston, TX 5
    • 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1996 3 beds 3 baths ∙ 1,624 Sqft ∙ Built 1996
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,535
    • $0.95
    •  
PROPERTY LISTING DETAILS
Stephany Perez
1.832.758.7697
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10219729
Last Updated: 02/05/2021
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