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1723 W 14th Street Houston, TX 77008

3 Beds 3 Baths 1,823 sqft Built 2007

$369,000

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $202.41
  • 2 Days on Market
  • MLS # : 78416043
  • Updated Date : 01/16/2021 at 18:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,823 sqft
  • Baths : 3 full
Listing Agent

Beth Wolff, Realtors

Listing Agent's Description

Stunning updated freestanding townhome in highly desired Houston Heights area! Light and bright second level Living Space with wide plank wood floors, high ceilings, and deep crown molding. Amazing Kitchen is open to the Living Room and offers breakfast bar, granite countertops and ample cabinet storage. Oversized Primary Suite located on third floor has a private balcony with breathtaking views. Double vanities, seamless glass shower, soaking tub, and large walk-in closet in Primary Bath. Located in gated community near local restaurants, shops, bars and more!

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: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k495k

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

Neighborhood: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9692561

* 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
Love Elementary School Primary Regular 428 27 3
Hamilton Middle School Middle Magnet 1,248 64 6
Waltrip High School High Magnet 1,663 94 3

Love Elementary School

  • Education Level: Primary
  • # of students: 428
  • # of teachers: 27
3
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$332,100$405,900$369,000

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,282
Property Tax -$837
Property Insurance -$150
Property Management Fees -$99
CASH FLOW
$172

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.

$369,000

PROJECTED PRICE

$2,540

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,282

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $1.39

    LIST RENT PER SQFT
  • $2,703

    COMP ESTIMATED VALUE
  • $1.48

    COMP AVG. RENT PER SQFT
Comps Range
$2,450
1$2,4502$2,5403$2,7254$2,8255$3,000
$3,000
RENT COMPS ANALYSIS
  • 1723 W 14th Street Houston, TX 2
    • 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,823 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $1.39
    •  
  • 1510 Bevis Street Houston, TX 1
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2004
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $1.44
    •  
  • 1317 Prince Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,918 Sqft ∙ Built 2006
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,725
    • $1.42
    •  
  • 1013 W 16th Street Houston, TX 4
    • 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 2007
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $1.51
    •  
  • 1418 Dian Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2005
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.56
    •  
PROPERTY LISTING DETAILS
Courtney Key
1.713.622.9339
Beth Wolff, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 78416043
Last Updated: 01/16/2021
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