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21430 Colton Cove Drive Houston, TX 77095

3 Beds 2 Baths 1,896 sqft Built 2007

$220,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $116.03
  • 4 Days on Market
  • MLS # : 10844810
  • Updated Date : 02/11/2021 at 16:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,896 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Charming one story starter home in the Falls at White Oak community. This adorable home features 3 bedrooms, 2 bathrooms, and both formal living and dining rooms. The roomy kitchen, with breakfast bar, is open to both the family room and breakfast area. Private owners retreat with double vanity, jetted tub, separate shower enclosure, and a walk-in closet. Beautiful wood laminate and tile flooring can be found throughout. The spacious rear patio is perfect for outdoor entertaining and no neighbors behind means extra privacy. Ideal location with quick access to both Hwy 6 and 290.

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

Zip Code: 77095

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $99k337k

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

Zip Code: 77095

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Fiest Elementary School Primary Regular 1,130 61 5
Labay Middle School Middle Regular 1,478 90 7
Cypress Falls High School High Unknown NA

Fiest Elementary School

  • Education Level: Primary
  • # of students: 1,130
  • # of teachers: 61
5
GreatSchools Rating

Labay Middle School

  • Education Level: Middle
  • # of students: 1,478
  • # of teachers: 90
7
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$764
Property Tax -$465
Property Insurance -$155
HOA -$33
Property Management Fees -$99
CASH FLOW
$124

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.

$220,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$9,841

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5503$1,6404$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 21430 Colton Cove Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.86
    •  
  • 9727 Woody Oaks Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,866 Sqft ∙ Built 2008
    LEASED 07/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.79
    •  
  • 9830 Lynette Falls Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,746 Sqft ∙ Built 2004
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 21419 Mission Falls Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,870 Sqft ∙ Built 2007
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 9926 Driftwood Park Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,859 Sqft ∙ Built 2004
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
PROPERTY LISTING DETAILS
Andrea Curran
1.832.707.4900
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10844810
Last Updated: 02/11/2021
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