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PROPERTY INFO
FACTS
- Single Family
- Built In 2002
- Price/Sqft : $107.44
- 3 Days on Market
- MLS # : 42684858
- Updated Date : 01/23/2021 at 08:00
CONSTRUCTION
- Beds : 3
- Floor Size : 2,178 sqft
- Baths : 2 full
Listing Agent
Shug Realty Group
Listing Agent's Description
A New Home for 2021! Beautiful move-in ready 1-story/3 bdrm/2 bath home situated on an impressive 7,744 sf lot. Island Kitchen boasts Corian counters, gas stove, 18” tile floor, plenty of counter & cabinet space, pantry, and breakfast room with window seat. Spacious Family Room (located off kitchen) features corner fireplace. Formal Living & Dining Rooms (great flexible space…could be used as a home office or gameroom). Primary Bedroom with sitting area features jetted tub, separate shower, double sinks, and linen closet. Sprinkler system. Attached 2 Car Garage w/plenty of parking. Lush Backyard w/Extended Concrete Patio (perfect for BBQs). Double pane windows. Tech-shield. Fans. Blinds. Other upgrades incl: recent paint; laminate wood floors; tile in entry, kitchen, laundry, and baths; cab hardware; lighting; and faucets. Cement-board siding. French drain. Minutes to Lone Start College, Berry Center, restaurants/shopping, Hwy 290, I-10, Hwy 6! Community Pool & Park. NEVER FLOODED!
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: Lone Oak
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lone Oak
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,720 |
| EXPENSES | Loan Payment | -$813 |
| Property Tax | -$532 | |
| Property Insurance | -$174 | |
| HOA | -$63 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$39
|
||
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.
$234,000
PROJECTED PRICE
$1,720
PROJECTED RENT
0.74%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| 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
$67,760
LOAN DETAILS
$813
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $58,500 |
| Loan Amount | $175,500 |
2.5
YEARS SAVED
$4,296
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,720
LIST RENT -
$0.79
LIST RENT PER SQFT
-
$1,742
COMP ESTIMATED VALUE -
$0.8
COMP AVG. RENT PER SQFT
Comps Range
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- $1,750
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- 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,095 Sqft ∙ Built 2007
LEASED 08/07/20- Rent
- Rent Per SQFT
- $1,795
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18227 Amalfi Coast Drive Cypress, TX 5
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LEASED 12/17/20- Rent
- Rent Per SQFT
- $1,795
- $0.83
PROPERTY LISTING DETAILS
1.832.474.8170
Shug Realty Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 42684858
Last Updated: 01/23/2021
