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PROPERTY INFO
FACTS
- Single Family
- Built In 2013
- Price/Sqft : $114.25
- 7 Days on Market
- MLS # : 7205259
- Updated Date : 11/27/2020 at 09:08
CONSTRUCTION
- Beds : 3
- Floor Size : 1,488 sqft
- Baths : 2 full , 1 half
Listing Agent
Bhgre Gary Greene
Listing Agent's Description
Charming two-story with 3 bedrooms, 2.5 baths, and detached garage in the highly sought after neighborhood of City Park. Recent installed granite and tile flooring in kitchen, kitchen opens to an eat-in breakfast area and the living room as well. Refrigerator included. Game room upstairs. Beautiful archways throughout. Great location with easy access to Medical Center/Universities and Downtown Houston. The neighborhood features a huge open area and gazebo down the street and also a large park and playground.
SEE MORE
- 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: City Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: City Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,480 |
| EXPENSES | Loan Payment | -$627 |
| Property Tax | -$404 | |
| Property Insurance | -$128 | |
| HOA | -$58 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$163
|
||
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.
$170,000
PROJECTED PRICE
$1,480
PROJECTED RENT
0.87%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.99% |
| Appreciation Year (1-5) | 5.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.01% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$50,800
LOAN DETAILS
$627
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $42,500 |
| Loan Amount | $127,500 |
6.67
YEARS SAVED
$16,003
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,480
LIST RENT -
$0.99
LIST RENT PER SQFT
-
$1,473
COMP ESTIMATED VALUE -
$0.99
COMP AVG. RENT PER SQFT
Comps Range
-
1739 Nichole Woods Drive Houston, TX 4
- 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,488 Sqft ∙ Built 2013
![property image]()
- Rent
- Rent Per SQFT
- $1,480
- $0.99
-
11930 Jelicoe Drive Houston, TX 1
- 3 beds 3 baths ∙ 1,380 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,380 Sqft ∙ Built 2014
![property image]()
LEASED 01/02/20- Rent
- Rent Per SQFT
- $1,399
- $1.01
-
11924 Jelicoe Drive Houston, TX 2
- 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,360 Sqft ∙ Built 2013
![property image]()
LEASED 03/31/20- Rent
- Rent Per SQFT
- $1,450
- $1.07
-
1735 Nichole Woods Drive Houston, TX 3
- 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,583 Sqft ∙ Built 2013
![property image]()
LEASED 02/11/20- Rent
- Rent Per SQFT
- $1,450
- $0.92
-
11920 Jelicoe Drive Houston, TX 5
- 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,564 Sqft ∙ Built 2013
![property image]()
LEASED 02/12/20- Rent
- Rent Per SQFT
- $1,500
- $0.96
PROPERTY LISTING DETAILS
1.281.415.8606
Bhgre Gary Greene
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 7205259
Last Updated: 11/27/2020
