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19902 Rising Star Drive Humble, TX 77338

3 Beds 2 Baths 1,549 sqft Built 1983

$164,900

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $106.46
  • 2 Days on Market
  • MLS # : 30943051
  • Updated Date : 01/30/2021 at 18:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,549 sqft
  • Baths : 2 full
Listing Agent

R. Alexa Group Llc

Listing Agent's Description

Traditional 1-story 3 bedroom 2 bathroom cozy home nestled in the corner of the subdivision. This home has a 2 car garage and a covered screened-in back porch that overlooks the backyard which has a beautiful fruit-bearing orange tree. Tall ceilings in the living room, open concept living and dining space.

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: Mill Creek

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k255k

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

Neighborhood: Mill Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8561714

* 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
Jones Elementary School Primary Regular 1,105 60 4
Teague Middle School Middle Regular 896 60 4
Nimitz Ninth Grade School High Regular 692 51 2

Jones Elementary School

  • Education Level: Primary
  • # of students: 1,105
  • # of teachers: 60
4
GreatSchools Rating

Teague Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 60
4
GreatSchools Rating

Nimitz Ninth Grade School

  • Education Level: High
  • # of students: 692
  • # of teachers: 51
2
GreatSchools Rating
 

$148,410$181,390$164,900

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$573
Property Tax -$413
Property Insurance -$132
HOA -$25
Property Management Fees -$99
CASH FLOW
$178

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$164,900

PROJECTED PRICE

$1,420

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,449

INVESTMENT

$49,449

Down Payment
$41,225
Rehab Estimate
$5,750
Closing Costs
$2,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,225
Loan Amount $123,675
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$14,636

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,413

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4004$1,4205$1,650
$1,650
RENT COMPS ANALYSIS
  • 19902 Rising Star Drive Humble, TX 4
    • 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,549 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.92
    •  
  • 8515 Sugar Wood Court Humble, TX 1
    • 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,570 Sqft ∙ Built 1983
    property image
    LEASED 05/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.86
    •  
  • 7910 Waxleaf Drive Humble, TX 2
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1979
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.96
    •  
  • 7928 Waxleaf Drive Humble, TX 3
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1979
    property image
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.84
    •  
  • 7922 Birchbark Drive Humble, TX 5
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1979
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Tracy Bisor
1.281.713.0373
R. Alexa Group Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 30943051
Last Updated: 01/30/2021
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