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2013 Cambridge Heights Place Place Houston, TX 77045

3 Beds 4 Baths 2,372 sqft Built 2017

$332,000

List Price

$2,470

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $139.97
  • 6 Days on Market
  • MLS # : 66206790
  • Updated Date : 01/28/2021 at 11:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,372 sqft
  • Baths : 3 full , 1 half
Listing Agent

Ulr Properties

Listing Agent's Description

Stunning townhome in gated community near NRG, Texas Medical Center, Museum District and Downtown Houston. Stunning finishes include a gourmet kitchen with stainless steel appliances. Spacious bedrooms with oversized closets. Fully fenced private yard.

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: Central Southwest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $71k222k

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

Neighborhood: Central Southwest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8881677

* 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
Hobby Elementary School Primary Regular 845 47 4
Dowling Middle School Middle Magnet 1,200 67 2
Madison High School High Magnet 1,833 107 2

Hobby Elementary School

  • Education Level: Primary
  • # of students: 845
  • # of teachers: 47
4
GreatSchools Rating

Dowling Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 67
2
GreatSchools Rating

Madison High School

  • Education Level: High
  • # of students: 1,833
  • # of teachers: 107
2
GreatSchools Rating
 

$298,800$365,200$332,000

PURCHASE PRICE

$2,223$2,717$2,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,470
EXPENSES Loan Payment -$1,153
Property Tax -$701
Property Insurance -$188
HOA -$125
Property Management Fees -$99
CASH FLOW
$204

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.

$332,000

PROJECTED PRICE

$2,470

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.9%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$93,730

INVESTMENT

$93,730

Down Payment
$83,000
Rehab Estimate
$5,750
Closing Costs
$4,980

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,153

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,000
Loan Amount $249,000
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$19,332

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,470

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $2,538

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4703$2,6004$2,7005$2,795
$2,795
RENT COMPS ANALYSIS
  • 2013 Cambridge Heights Place Place Houston, TX 2
    • 3 beds 4 baths ∙ 2,372 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,372 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $2,470
    • $1.04
    •  
  • 2009 Cambridge Heights Place Houston, TX 1
    • 3 beds 3 baths ∙ 2,293 Sqft ∙ Built 2017 3 beds 3 baths ∙ 2,293 Sqft ∙ Built 2017
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.00
    •  
  • 2020 Fannin Station Houston, TX 3
    • 3 beds 4 baths ∙ 2,504 Sqft ∙ Built 2012 3 beds 4 baths ∙ 2,504 Sqft ∙ Built 2012
    LEASED 01/20/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 2018 Fannin Station Houston, TX 4
    • 4 beds 5 baths ∙ 2,426 Sqft ∙ Built 2012 4 beds 5 baths ∙ 2,426 Sqft ∙ Built 2012
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.11
    •  
  • 2031 Fannin Station N Houston, TX 5
    • 3 beds 4 baths ∙ 2,470 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,470 Sqft ∙ Built 2013
    LEASED 01/04/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,795
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jessica St. John
1.713.367.7448
Ulr Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 66206790
Last Updated: 01/28/2021
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