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1906 Athens Drive Roman Forest, TX 77357

4 Beds 2 Baths 1,785 sqft Built 2020

$278,500

List Price

$1,870

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
SINGLE-FAMILY
February 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $156.02
  • 6 Days on Market
  • MLS # : 80158968
  • Updated Date : 02/26/2021 at 11:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,785 sqft
  • Baths : 2 full
Listing Agent

Jd & C Realty

Listing Agent's Description

BRAND NEW CONSTRUCTION. New home warranty is from an Insurance Company, The foundation is above the 500 years flooding elevation. Buyers to verify measurements and information. Master bath w/double vanity and walk-in closet. Granite countertops. 30 years composition roof. Property is fenced. Fire and police stations just minutes away. Commute to Downtown in 45 minutes, Airport within 25 minutes, close to shopping centers, close to major highways (59/69 and 99) and yet secluded. Community pool and splash pad. You will love this house to be your home.

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: Roman Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $79k238k

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

Neighborhood: Roman Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800Rent in $7271816

* 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
Dogwood Elementary School Primary Unknown NA
Keefer Crossing Middle School Middle Regular 795 51 4
New Caney High School High Regular 1,587 115 3

Dogwood Elementary School

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

Keefer Crossing Middle School

  • Education Level: Middle
  • # of students: 795
  • # of teachers: 51
4
GreatSchools Rating

New Caney High School

  • Education Level: High
  • # of students: 1,587
  • # of teachers: 115
3
GreatSchools Rating
 

$250,650$306,350$278,500

PURCHASE PRICE

$1,683$2,057$1,870

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,870
EXPENSES Loan Payment -$967
Property Tax -$558
Property Insurance -$130
Property Management Fees -$99
CASH FLOW
$115

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$278,500

PROJECTED PRICE

$1,870

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 3.00%
Vacancy 8.80%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$75,803

INVESTMENT

$75,803

Down Payment
$69,625
Rehab Estimate
$2,000
Closing Costs
$4,178

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$967

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,625
Loan Amount $208,875
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$12,706

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,870

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,874

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,870
$1,870
RENT COMPS ANALYSIS
  • 1906 Athens Drive Roman Forest, TX 2
    • 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,785 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,870
    • $1.05
    •  
  • 18881 Genova Bay Court New Caney, TX 1
    • 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,575 Sqft ∙ Built 2017
    LEASED 11/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
PROPERTY LISTING DETAILS
Juan Gonzalez
1.713.826.6485
Jd & C Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80158968
Last Updated: 02/26/2021
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