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1801 Charro Street Friendswood, TX 77546

3 Beds 2 Baths 1,893 sqft Built 1986

$279,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $147.39
  • 4 Days on Market
  • MLS # : 14842805
  • Updated Date : 02/25/2021 at 16:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,893 sqft
  • Baths : 2 full
Listing Agent

Stanfield Properties

Listing Agent's Description

Masterfully updated single story 3 bedroom home on a corner lot in highly acclaimed Friendswood ISD! Enter this freshly repainted open concept design to find beautiful wood-look tile floors laid in a herringbone pattern that makes way to the family room with a soaring 16’ vaulted ceiling, designer chandelier, and an updated fireplace with a marble tile surround and shiplap detailing. A raised breakfast bar with seating leads into the fabulous kitchen with white quartz countertops, all new stainless appliances, white cabinetry, stylish lighting, and dining options in the sunlit breakfast room or adjoining dining room. Additional updates include an updated secondary bathroom, Nest doorbell/thermostat/smoke & carbon monoxide detectors, and all new texture, paint, baseboards, fixtures, and hardware throughout. Outdoors, relax on the backyard deck overlooking a spacious backyard with included storage shed.

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: Carmel Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Carmel Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722091

* 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
Cline Elementary School Primary Regular 912 56 10
Friendswood High School High Regular 2,192 130 9
Windsong Intermediate School Primary Regular 559 29 10

Cline Elementary School

  • Education Level: Primary
  • # of students: 912
  • # of teachers: 56
10
GreatSchools Rating

Friendswood High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 130
9
GreatSchools Rating

Windsong Intermediate School

  • Education Level: Primary
  • # of students: 559
  • # of teachers: 29
10
GreatSchools Rating
 

$251,100$306,900$279,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$969
Property Tax -$590
Property Insurance -$155
HOA -$8
Property Management Fees -$99
CASH FLOW
$128

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.

$279,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.0%
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

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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$11,598

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,822

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8504$1,9505$1,950
$1,950
RENT COMPS ANALYSIS
  • 1801 Charro Street Friendswood, TX 5
    • 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,893 Sqft ∙ Built 1986
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
  • 329 Gleneagles Drive Friendswood, TX 1
    • 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,740 Sqft ∙ Built 1978
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.01
    •  
  • 263 E Castle Harbour Drive Friendswood, TX 2
    • 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 1979 4 beds 2 baths ∙ 2,089 Sqft ∙ Built 1979
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.86
    •  
  • 236 E Castle Harbour Drive Friendswood, TX 3
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1978
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.03
    •  
  • 300 Old Course Drive Friendswood, TX 4
    • 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,049 Sqft ∙ Built 1980
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
PROPERTY LISTING DETAILS
Mary Wise
1.713.705.5254
Stanfield Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 14842805
Last Updated: 02/25/2021
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