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2110 Lacewing Lane Houston, TX 77067

3 Beds 2 Baths 1,638 sqft Built 1980

$173,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $105.62
  • 69 Days on Market
  • MLS # : 64196799
  • Updated Date : 12/18/2020 at 12:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Exit Lone Star Realty

Listing Agent's Description

Nice one story home on a HUGE lot with large shade trees and great curb appeal. Well maintained, laminate floors in main living areas, walk-in bath and walk in closet in primary bedroom, and new ceiling fan in the living room. Call for a showing today! Home is also available to lease.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Lincoln Green East

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $62k222k

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

Neighborhood: Lincoln Green East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Conley Elementary School Primary Regular 872 50 5
Plummer Middle School Middle Regular 962 61 4
Davis Senior High School High Regular 2,542 149 2

Conley Elementary School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 50
5
GreatSchools Rating

Plummer Middle School

  • Education Level: Middle
  • # of students: 962
  • # of teachers: 61
4
GreatSchools Rating

Davis Senior High School

  • Education Level: High
  • # of students: 2,542
  • # of teachers: 149
2
GreatSchools Rating
 

$155,700$190,300$173,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$638
Property Tax -$460
Property Insurance -$138
HOA -$27
Property Management Fees -$99
CASH FLOW
$98

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.

$173,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.0%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$51,595

INVESTMENT

$51,595

Down Payment
$43,250
Rehab Estimate
$5,750
Closing Costs
$2,595

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$638

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,250
Loan Amount $129,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$10,010

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,458

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3253$1,3504$1,4255$1,460
$1,460
RENT COMPS ANALYSIS
  • 2110 Lacewing Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $0.89
    •  
  • 2306 Rhyme Court Road Houston, TX 1
    • 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,564 Sqft ∙ Built 1980
    property image
    LEASED 03/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
  • 11502 Dovedale Court Houston, TX 2
    • 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,558 Sqft ∙ Built 1980
    property image
    LEASED 12/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.85
    •  
  • 11326 Featherstar Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,446 Sqft ∙ Built 1981
    property image
    LEASED 12/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.93
    •  
  • 2202 Snowdrop Lane Houston, TX 4
    • 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,506 Sqft ∙ Built 1981
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
PROPERTY LISTING DETAILS
Raquel Sanchez
1.512.751.6907
Exit Lone Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64196799
Last Updated: 12/18/2020
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