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17515 Golden Glade Lane Houston, TX 77095

4 Beds 4 Baths 2,773 sqft Built 1999

$265,000

List Price

$2,140

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1999
  • Price/Sqft : $95.56
  • 3 Days on Market
  • MLS # : 25072772
  • Updated Date : 11/06/2020 at 21:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,773 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Beautiful two-story, four bedroom 3 1/2 bath in Rialto Ranch, not far from Highway 290. Located on a quiet cul-de-sac street. Primary bedroom down, three bedrooms, 2 Full bath upstairs plus game room. All new carpet and fresh paint throughout. AC was replaced last year. Roof replaced 10 years ago. Tile flooring in the entry, kitchen and breakfast area. Wood laminate flooring in family room and dining room. Ceiling fans in all the bedrooms including family room and game room. High ceilings in the family room, rounded corners, gas logs in the fireplace. Huge concrete patio decking. Nice size yard with lots of trees. Large primary bedroom on the first floor, bathroom with separate vanities, walk in closet, whirlpool tub and separate shower.

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: Riata Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k359k

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

Neighborhood: Riata Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Woodard Elementary School Primary Regular NA
Spillane Middle School Middle Regular 1,393 78 10
Cypress Ranch High School High Regular 3,456 194 9

Woodard Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Spillane Middle School

  • Education Level: Middle
  • # of students: 1,393
  • # of teachers: 78
10
GreatSchools Rating

Cypress Ranch High School

  • Education Level: High
  • # of students: 3,456
  • # of teachers: 194
9
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,926$2,354$2,140

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,140
EXPENSES Loan Payment -$978
Property Tax -$631
Property Insurance -$215
HOA -$60
Property Management Fees -$99
CASH FLOW
$159

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.

$265,000

PROJECTED PRICE

$2,140

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.0%
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$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$13,267

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,140

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,101

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0053$2,1004$2,1405$2,200
$2,200
RENT COMPS ANALYSIS
  • 17515 Golden Glade Lane Houston, TX 4
    • 4 beds 4 baths ∙ 2,773 Sqft ∙ Built 1999 4 beds 4 baths ∙ 2,773 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,140
    • $0.77
    •  
  • 17606 Mossy Brook Court Cypress, TX 1
    • 3 beds 3 baths ∙ 2,592 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,592 Sqft ∙ Built 2004
    LEASED 09/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.75
    •  
  • 17526 Brushy River Court Houston, TX 2
    • 4 beds 2 baths ∙ 2,642 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,642 Sqft ∙ Built 1997
    LEASED 08/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,005
    • $0.76
    •  
  • 17630 Riata Springs Lane Cypress, TX 3
    • 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,723 Sqft ∙ Built 2005
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 10418 Sanibel Falls Court Houston, TX 5
    • 4 beds 3 baths ∙ 2,949 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,949 Sqft ∙ Built 1998
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
PROPERTY LISTING DETAILS
Dorothy Yee
1.281.265.5533
Re/max Fine Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25072772
Last Updated: 11/06/2020
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