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2619 Ashington Drive Houston, TX 77067

4 Beds 2 Baths 2,012 sqft Built 1981

$195,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $96.92
  • 31 Days on Market
  • MLS # : 13747577
  • Updated Date : 11/25/2020 at 17:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,012 sqft
  • Baths : 2 full
Listing Agent

Evolve Real Estate

Listing Agent's Description

This home is beautiful and will not last long. Fresh paint and wood flooring throughout. This home was recently remodeled, and includes a very spacious living area as well as an oversized patio perfect for entertainment. Schedule your private tour today before its too late.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: McKamy Meadows

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $58k222k

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

Neighborhood: McKamy Meadows

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
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$719
Property Tax -$411
Property Insurance -$163
Property Management Fees -$99
CASH FLOW
$127

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.

$195,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.78%

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$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$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$14,723

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,564

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,4453$1,4994$1,5205$1,545
$1,545
RENT COMPS ANALYSIS
  • 2619 Ashington Drive Houston, TX 4
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1981 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $0.76
    •  
  • 11363 Featherstar Houston, TX 1
    • 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,708 Sqft ∙ Built 1981
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.73
    •  
  • 11431 Stoughton Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,908 Sqft ∙ Built 1980
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $0.76
    •  
  • 11923 Yeatmah Lane Houston, TX 3
    • 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,821 Sqft ∙ Built 1978
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,499
    • $0.82
    •  
  • 11327 Toucan Lane Houston, TX 5
    • 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1980 4 beds 3 baths ∙ 1,922 Sqft ∙ Built 1980
    LEASED 11/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.80
    •  
PROPERTY LISTING DETAILS
Roberto Zamarripa
1.713.530.1983
Evolve Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13747577
Last Updated: 11/25/2020
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