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1739 Nichole Woods Drive Houston, TX 77047

3 Beds 3 Baths 1,488 sqft Built 2013

$170,000

List Price

$1,480

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 27, 2020 RECENTLY ADDED
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

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: City Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k253k

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

Neighborhood: City Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Almeda Elementary School Primary Regular 819 41 3
Dowling Middle School Middle Magnet 1,200 67 2
Worthing High School High Magnet 681 38 2

Almeda Elementary School

  • Education Level: Primary
  • # of students: 819
  • # of teachers: 41
3
GreatSchools Rating

Dowling Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 67
2
GreatSchools Rating

Worthing High School

  • Education Level: High
  • # of students: 681
  • # of teachers: 38
2
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,332$1,628$1,480

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

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
$1,399
1$1,3992$1,4503$1,4504$1,4805$1,500
$1,500
RENT COMPS ANALYSIS
  • 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
Pansy Granberry
1.281.415.8606
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7205259
Last Updated: 11/27/2020
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