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2935 Bassingham Drive Houston, TX 77339

3 Beds 3 Baths 1,620 sqft Built 1983

$189,000

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $116.67
  • 7 Days on Market
  • MLS # : 9503235
  • Updated Date : 02/09/2021 at 12:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Welcome to your new home! It’s located in the highly sought subdivision Elm Grove Village of Kingwood! If you are looking for a home with great potential that is move in ready, this is it!  This is a 2 story 3 bedrooms, 21/2 bath house, it has a high ceiling in the living room with a gas log fireplace to keep you warm. All ceramic tile downstairs and wood floors upstairs with a sprinkler system in the front and backyard. Kitchen is equipped with brand new appliances and silestone countertops. The community offers multiple parks, pool, recreational center, and walking distance to miles of greenbelt trails. Close to Hwy 59 and Hwy 99, airport, and much more. Schedule your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Elm Grove Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Elm Grove Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10692063

* 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
Elm Grove Elementary School Primary Regular 488 35 6
Kingwood Middle School Middle Regular 1,025 58 7
Kingwood Park High School High Regular 1,768 110 8

Elm Grove Elementary School

  • Education Level: Primary
  • # of students: 488
  • # of teachers: 35
6
GreatSchools Rating

Kingwood Middle School

  • Education Level: Middle
  • # of students: 1,025
  • # of teachers: 58
7
GreatSchools Rating

Kingwood Park High School

  • Education Level: High
  • # of students: 1,768
  • # of teachers: 110
8
GreatSchools Rating
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$656
Property Tax -$399
Property Insurance -$137
HOA -$32
Property Management Fees -$99
CASH FLOW
$227

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.

$189,000

PROJECTED PRICE

$1,550

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$656

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$17,749

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,547

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5504$1,5505$1,625
$1,625
RENT COMPS ANALYSIS
  • 2935 Bassingham Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 5214 Village Springs Drive Humble, TX 1
    • 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,479 Sqft ∙ Built 1982
    LEASED 05/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.98
    •  
  • 5230 Shady Gardens Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1983
    LEASED 06/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.94
    •  
  • 2927 Royal Glen Drive Kingwood, TX 3
    • 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1982 3 beds 3 baths ∙ 1,600 Sqft ∙ Built 1982
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.97
    •  
  • 3114 Cascade Creek Drive Kingwood, TX 5
    • 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,754 Sqft ∙ Built 1978
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.93
    •  
PROPERTY LISTING DETAILS
Melchor Garcia
1.713.621.8001
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 9503235
Last Updated: 02/09/2021
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