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17727 Garnercrest Drive Houston, TX 77095

4 Beds 3 Baths 2,156 sqft Built 1987

$225,000

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $104.36
  • 4 Days on Market
  • MLS # : 17453892
  • Updated Date : 01/23/2021 at 13:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,156 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Charming two story situated on over a quarter-acre lot at the end of a cul-de-sac street! Upon entering the home are the formal living & dining rooms - both have upgraded laminate wood flooring & high ceilings. The kitchen boasts stainless steel appliances, granite countertops, undermount sink & breakfast area. Vaulted ceilings, cozy fireplace & tile flooring in the family room. The owners suite is on the 1st floor & has upgraded flooring, a jetted tub, oversized shower & dual sinks. Huge backyard with patio & mature trees. Walking/biking distance to the elementary school, high school & community pool/tennis courts. Minutes from Hwy 6, 290 & more. Don't miss this one!

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: Copperfield Westcreek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $99k335k

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

Neighborhood: Copperfield Westcreek Village

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
Holmsley Elementary School Primary Regular 884 52 5
Aragon Middle School Middle Regular 1,548 84 9
Langham Creek High School High Regular 3,211 194 7

Holmsley Elementary School

  • Education Level: Primary
  • # of students: 884
  • # of teachers: 52
5
GreatSchools Rating

Aragon Middle School

  • Education Level: Middle
  • # of students: 1,548
  • # of teachers: 84
9
GreatSchools Rating

Langham Creek High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 194
7
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$782
Property Tax -$491
Property Insurance -$173
HOA -$62
Property Management Fees -$99
CASH FLOW
$103

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.

$225,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$7,739

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,768

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6473$1,7004$1,7105$1,775
$1,775
RENT COMPS ANALYSIS
  • 17727 Garnercrest Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,156 Sqft ∙ Built 1987
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.79
    •  
  • 7735 Gable Point Drive Houston, TX 1
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1989
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 7427 Sheffield Bend Court Houston, TX 2
    • 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,131 Sqft ∙ Built 2003
    LEASED 05/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,647
    • $0.77
    •  
  • 7506 Alpine Park Lane Cypress, TX 3
    • 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,992 Sqft ∙ Built 2003
    LEASED 02/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 17923 Calm Brook Court Houston, TX 5
    • 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,080 Sqft ∙ Built 1993
    LEASED 08/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jimmy Franklin
1.281.949.6362
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 #: 17453892
Last Updated: 01/23/2021
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