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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $113.08
- 2 Days on Market
- MLS # : 86249812
- Updated Date : 02/20/2021 at 21:06
CONSTRUCTION
- Beds : 3
- Floor Size : 1,812 sqft
- Baths : 2 full
Listing Agent
Re/max Associates Northeast
Listing Agent's Description
Beautifully updated family home featuring wide plank wood floors in family room, dining room and master bedroom. Family Room boasts soaring gas log fireplace and cathedral ceilings. Master Suite has cathedral ceilings as well as en-suite bath with frameless shower and quartz countertops. Modern Kitchen with stainless appliances, quartz counters and mosaic backsplash, double ss undermount sink and tile floors. Open concept Kitchen, Breakfast Room and Family Room with access to the large fully fenced backyard with covered patio and large paver patio area for entertaining. Home did NOT flood.
SEE MORE
- 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: Hunters Ridge Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Hunters Ridge Village
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,590 |
| EXPENSES | Loan Payment | -$712 |
| Property Tax | -$487 | |
| Property Insurance | -$150 | |
| HOA | -$35 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$107
|
||
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.
$204,900
PROJECTED PRICE
$1,590
PROJECTED RENT
0.78%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 7.3% |
| 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
$60,049
LOAN DETAILS
$712
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $51,225 |
| Loan Amount | $153,675 |
4.17
YEARS SAVED
$7,714
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,590
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,599
COMP ESTIMATED VALUE -
$0.88
COMP AVG. RENT PER SQFT
Comps Range
-
2707 Golden Leaf Drive Kingwood, TX 4
- 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,590
- $0.88
-
3114 Brookdale Drive Humble, TX 1
- 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,617 Sqft ∙ Built 1979
LEASED 07/14/20- Rent
- Rent Per SQFT
- $1,450
- $0.90
-
3919 Forest Bluff Drive Kingwood, TX 2
- 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,812 Sqft ∙ Built 1977
LEASED 10/28/20- Rent
- Rent Per SQFT
- $1,495
- $0.83
-
3119 Glade Springs Drive Houston, TX 3
- 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 1979
LEASED 06/24/20- Rent
- Rent Per SQFT
- $1,550
- $0.91
-
2619 Brookdale Drive Kingwood, TX 5
- 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,963 Sqft ∙ Built 1985
LEASED 05/20/20- Rent
- Rent Per SQFT
- $1,750
- $0.89
PROPERTY LISTING DETAILS
1.832.236.8539
Re/max Associates Northeast
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 86249812
Last Updated: 02/20/2021
