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2037 Paul Quinn Street Houston, TX 77091

3 Beds 4 Baths 2,428 sqft Built 2019

$359,995

List Price

$2,640

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $148.27
  • 2 Days on Market
  • MLS # : 27765358
  • Updated Date : 03/13/2021 at 16:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,428 sqft
  • Baths : 3 full , 1 half
Listing Agent

Turner Mangum,llc

Listing Agent's Description

New construction! Located in the gated community of Highland Heights Park! Call Today for More Info!!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Acres Home

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k222k

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

Neighborhood: Acres Home

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6911677

* 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
Highland Heights Elementary School Primary Charter 567 32 1
Williams Middle School Middle Magnet 533 33 2
Waltrip High School High Magnet 1,663 94 3

Highland Heights Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 32
1
GreatSchools Rating

Williams Middle School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 33
2
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$323,996$395,995$359,995

PURCHASE PRICE

$2,376$2,904$2,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,640
EXPENSES Loan Payment -$1,250
Property Tax -$759
Property Insurance -$191
HOA -$121
Property Management Fees -$99
CASH FLOW
$219

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.

$359,995

PROJECTED PRICE

$2,640

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.7%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$101,149

INVESTMENT

$101,149

Down Payment
$89,999
Rehab Estimate
$5,750
Closing Costs
$5,400

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,250

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $89,999
Loan Amount $269,996
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$21,264

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,640

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $2,628

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,6403$2,7504$2,7755$3,000
$3,000
RENT COMPS ANALYSIS
  • 2037 Paul Quinn Street Houston, TX 2
    • 3 beds 4 baths ∙ 2,428 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,428 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,640
    • $1.09
    •  
  • 5117 Alba Road Houston, TX 1
    • 3 beds 3 baths ∙ 2,229 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,229 Sqft ∙ Built 2012
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.94
    •  
  • 2017 Paul Quinn Street Houston, TX 3
    • 4 beds 4 baths ∙ 2,443 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,443 Sqft ∙ Built 2019
    LEASED 03/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $1.13
    •  
  • 5006 Ella Boulevard Houston, TX 4
    • 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 2019
    LEASED 09/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,775
    • $1.13
    •  
  • 5118 E Jerad Drive Houston, TX 5
    • 3 beds 3 baths ∙ 2,647 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,647 Sqft ∙ Built 2008
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.13
    •  
PROPERTY LISTING DETAILS
Jared Turner
Turner Mangum,llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 27765358
Last Updated: 03/13/2021
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