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2519 Carriage Lane Stafford, TX 77477

4 Beds 3 Baths 2,305 sqft Built 1983

$230,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $99.78
  • 3 Days on Market
  • MLS # : 18210870
  • Updated Date : 12/18/2020 at 23:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,305 sqft
  • Baths : 3 full
Listing Agent

Stride Real Estate, Llc

Listing Agent's Description

This charming 2 story home awaits you. Walk into your own spacious living area with cathedral ceilings along with a beautiful brick fireplace. This home comes with 2 bedrooms downstairs with 2 full baths. Large windows in the home allow for natural light to flow through. The spacious kitchen comes with built-in seating. Primary bedroom comes with dual closets and vanities. Less than 3 year old AC unit. This home is located in a cul-de-sac. Come see this home today and let’s make it your home-sweet-home!

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: Kingsway

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k235k

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

Neighborhood: Kingsway

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
Stafford Intermediate School Primary Regular 505 29 6
Stafford Intermediate School Middle Regular 505 29 6
Stafford High School High Regular 1,001 68 3

Stafford Intermediate School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 29
6
GreatSchools Rating

Stafford Intermediate School

  • Education Level: Middle
  • # of students: 505
  • # of teachers: 29
6
GreatSchools Rating

Stafford High School

  • Education Level: High
  • # of students: 1,001
  • # of teachers: 68
3
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$849
Property Tax -$403
Property Insurance -$160
HOA -$27
Property Management Fees -$99
CASH FLOW
$142

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.

$230,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.5%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

5.92

YEARS SAVED

$18,236

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $1,660

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5753$1,6804$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 2519 Carriage Lane Stafford, TX 3
    • 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.73
    •  
  • 2011 Whirlaway Drive Stafford, TX 1
    • 3 beds 3 baths ∙ 2,275 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,275 Sqft ∙ Built 1995
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.67
    •  
  • 526 Shady Dale Drive Stafford, TX 2
    • 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1982 3 beds 2 baths ∙ 2,118 Sqft ∙ Built 1982
    LEASED 01/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.74
    •  
  • 118 Kings Way Stafford, TX 4
    • 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 2003
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 3606 Samuel Adams Missouri City, TX 5
    • 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2003
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jobin Johnson
1.832.391.5000
Stride Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 18210870
Last Updated: 12/18/2020
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