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PROPERTY INFO
FACTS
- Single Family
- Built In 2017
- Price/Sqft : $180.75
- 5 Days on Market
- MLS # : 2363954
- Updated Date : 01/13/2021 at 07:59
CONSTRUCTION
- Beds : 3
- Floor Size : 2,213 sqft
- Baths : 3 full , 1 half
Listing Agent
Compass Re Texas, Llc
Listing Agent's Description
Nestled in the heart of the Heights, this gorgeous 3 story home sits on a premium corner lot. A beautiful foyer opens to the 1st floor featuring a large bedroom with en-suite bath that could easily double as a study/gameroom. A patio & private side yard are accessible from the 1st floor as is the attached, 2 car garage. The 2nd floor features soaring ceilings & a wonderful open floorplan with great room, dining, kitchen and French doors opening onto a balcony for fantastic indoor/outdoor living. The chef's kitchen features custom cabinets, large island, ss appliances, & granite countertops. An upgraded dry bar including wine fridge is located in the dining room. The huge primary bedroom & luxurious en-suite bath are located on the 3rd floor along with another secondary bedroom with en-suite bath & laundry room. Fantastic location…5 minute walk to Heights Hike/Bike Trail & easy walk to popular shopping & dining on 19th St, Heights Waterworks & neighborhood events like White Linen Night.
SEE MORE
- 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: Greater Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greater Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,550 |
| EXPENSES | Loan Payment | -$1,389 |
| Property Tax | -$866 | |
| Property Insurance | -$177 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$19
|
||
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.
$400,000
PROJECTED PRICE
$2,550
PROJECTED RENT
0.64%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$111,750
LOAN DETAILS
$1,389
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $100,000 |
| Loan Amount | $300,000 |
2.5
YEARS SAVED
$7,502
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,550
LIST RENT -
$1.15
LIST RENT PER SQFT
-
$2,562
COMP ESTIMATED VALUE -
$1.16
COMP AVG. RENT PER SQFT
Comps Range
-
258 W 28th Street Houston, TX 4
- 3 beds 4 baths ∙ 2,213 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,213 Sqft ∙ Built 2017
- Rent
- Rent Per SQFT
- $2,550
- $1.15
-
2705 Rutland Street Houston, TX 1
- 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,035 Sqft ∙ Built 2007
LEASED 05/15/20- Rent
- Rent Per SQFT
- $2,100
- $1.03
-
427 W 26th Street Houston, TX 2
- 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,097 Sqft ∙ Built 2007
LEASED 05/01/20- Rent
- Rent Per SQFT
- $2,250
- $1.07
-
318 W 28th Street Houston, TX 3
- 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,094 Sqft ∙ Built 2008
LEASED 10/19/20- Rent
- Rent Per SQFT
- $2,445
- $1.17
-
221 E 27th Street Houston, TX 5
- 3 beds 4 baths ∙ 2,209 Sqft ∙ Built 2017 3 beds 4 baths ∙ 2,209 Sqft ∙ Built 2017
LEASED 12/05/20- Rent
- Rent Per SQFT
- $3,000
- $1.36
PROPERTY LISTING DETAILS
1.225.335.2877
Compass Re Texas, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 2363954
Last Updated: 01/13/2021
