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2722 Creek Arbor Circle Houston, TX 77084

4 Beds 3 Baths 2,486 sqft Built 2005

$220,000

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $88.50
  • 3 Days on Market
  • MLS # : 39883182
  • Updated Date : 01/22/2021 at 16:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,486 sqft
  • Baths : 2 full , 1 half
Listing Agent

Aroundtown Properties Inc

Listing Agent's Description

COMING SOON!!! This beautiful 2 story home features 4 Bedrooms & 2.5 Baths located in the Lake Ridge Community! This home has an excellent curb appeal that is sure to make a great first impression. Natural light pours into the home making for a very bright & enjoyable living area. The open-concept kitchen features plenty of counter & storage space & built-in Stainless Steel appliances! A Formal Dining room is tucked away at the front of the home, great for hosting friends & family over for dinner parties! Spacious Primary bedroom & bath. Spacious secondary bedrooms. Enjoy your favorite movies and TV shows in the upstairs game room with plenty of room for theater seating! Spend your weekends relaxing in this large backyard with plenty of space for the kids to play!

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: Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k223k

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

Neighborhood: Lake Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9481677

* 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
Rhoads Elementary School Primary Regular 1,126 86 7
Mayde Creek Junior High School Middle Regular 1,141 84 8
Mayde Creek High School High Regular 2,755 158 7

Rhoads Elementary School

  • Education Level: Primary
  • # of students: 1,126
  • # of teachers: 86
7
GreatSchools Rating

Mayde Creek Junior High School

  • Education Level: Middle
  • # of students: 1,141
  • # of teachers: 84
8
GreatSchools Rating

Mayde Creek High School

  • Education Level: High
  • # of students: 2,755
  • # of teachers: 158
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$764
Property Tax -$503
Property Insurance -$195
HOA -$34
Property Management Fees -$99
CASH FLOW
$75

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

$1,670

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.2%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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 60% 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

3.42

YEARS SAVED

$6,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.67

    LIST RENT PER SQFT
  • $1,790

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6703$1,6754$1,8505$1,895
$1,895
RENT COMPS ANALYSIS
  • 2722 Creek Arbor Circle Houston, TX 2
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.67
    •  
  • 19314 Dawn Canyon Road Houston, TX 1
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 2004
    property image
    LEASED 05/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.67
    •  
  • 19219 Buckeye Ridge Way Houston, TX 3
    • 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,486 Sqft ∙ Built 2005
    property image
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.67
    •  
  • 19134 Clevera Walk Lane Houston, TX 4
    • 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,363 Sqft ∙ Built 2010
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
  • 19211 Buckeye Ridge Way Houston, TX 5
    • 4 beds 4 baths ∙ 2,486 Sqft ∙ Built 2005 4 beds 4 baths ∙ 2,486 Sqft ∙ Built 2005
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.76
    •  
PROPERTY LISTING DETAILS
Alex Rezende
1.832.819.4475
Aroundtown Properties Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39883182
Last Updated: 01/22/2021
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