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2130 Eagle Point Road Crosby, TX 77532

4 Beds 2 Baths 1,667 sqft Built 1980

$170,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

$50,800

Investment Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 31, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $101.98
  • 5 Days on Market
  • MLS # : 89721727
  • Updated Date : 12/30/2020 at 22:27
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,667 sqft
  • Baths : 2 full
Listing Agent

Martha Turner Sotheby's

Listing Agent's Description

What a great location at an incredible price point. All this home needs is some cosmetic updating. Big ticket items already replaced are: 8 year old Roof, HVAC replaced in recent years, newer appliances. Located in the highly popular Indian Shores subdivision off of Lake Houston. This home has a huge, Texas sized yard, high ceilings, expansive family area. The large primary bedroom is downstairs with 3 additional bedrooms upstairs. One of the bedrooms upstairs could be a flex room used for an office or cozy game room for the kids. Great location off of 2100 close to 1960 and Hwy 90.

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MARKET HIGHLIGHTS

Houston Market Report
  • 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: Indian Shores

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $89k235k

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

Neighborhood: Indian Shores

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8591776

* 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
Huffman Intermediate School Primary Regular 502 30 5
Huffman Middle School Middle Regular 809 45 4
Hargrave High School High Regular 982 64 7

Huffman Intermediate School

  • Education Level: Primary
  • # of students: 502
  • # of teachers: 30
5
GreatSchools Rating

Huffman Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 45
4
GreatSchools Rating

Hargrave High School

  • Education Level: High
  • # of students: 982
  • # of teachers: 64
7
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$153,000$187,000$170,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING
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FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$627
Property Tax -$427
Property Insurance -$140
HOA -$3
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 17% of earned rent to cover both maintenance and periods of vacancy.

$170,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.5%
Maintenance Year (1-5) 8.00%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$50,800

INVESTMENT

$50,800

Down Payment		 $42,500
Rehab Estimate		 $5,750
Closing Costs		 $2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$18,554

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT

  • $0.9

    LIST RENT PER SQFT

  • $1,450

    COMP ESTIMATED VALUE

  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,5003$1,5504$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 2130 Eagle Point Road Crosby, TX 2
    • 4 beds 2 baths ∙ 1,667 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,667 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
  • 2023 Papoose Trail Crosby, TX 1
    • 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,670 Sqft ∙ Built 1977
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.81
    •  
  • 2038 Running Bear Trail Crosby, TX 3
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1967 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1967
    LEASED 11/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.91
    •  
  • 19242 Relay Road Humble, TX 4
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 1984
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 2219 Papoose Crosby, TX 5
    • 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,762 Sqft ∙ Built 1983
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.91
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Dana Olejniczak
1.832.527.2590
Martha Turner Sotheby's
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 89721727
Last Updated: 12/30/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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