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3 Regency Lane Houston, TX 77088

3 Beds 3 Baths 1,904 sqft Built 1984

$175,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $91.91
  • 3 Days on Market
  • MLS # : 87509485
  • Updated Date : 11/13/2020 at 21:26
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,904 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Western Realty

Listing Agent's Description

Beautiful 3 bedroom, 2 and a half bath home with no side neighbor to the right. This home is located in a small, quiet, friendly neighborhood with quick access to HW249. Lots of restaurants and shopping nearby. On the first floor is a huge family room and an updated kitchen with granite countertops and lots of natural light. It also features a huge island also with granite, lots of counter space and storage. The back yard is fully fenced and has a covered patio!

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: Inwood North

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Inwood North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8301677

* 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
Nitsch Elementary School Primary Regular 768 67 3
Klein Intermediate School Middle Regular 1,232 93 3
Klein Forest High School High Regular 3,589 258 3

Nitsch Elementary School

  • Education Level: Primary
  • # of students: 768
  • # of teachers: 67
3
GreatSchools Rating

Klein Intermediate School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 93
3
GreatSchools Rating

Klein Forest High School

  • Education Level: High
  • # of students: 3,589
  • # of teachers: 258
3
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$646
Property Tax -$433
Property Insurance -$156
HOA -$21
Property Management Fees -$99
CASH FLOW
$145

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.

$175,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.7%
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

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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$14,318

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,595

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5154$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 3 Regency Lane Houston, TX 2
    • 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,904 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 5915 Bihia Forest Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,765 Sqft ∙ Built 1976
    property image
    LEASED 12/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.82
    •  
  • 6030 Gallant Forest Drive Houston, TX 3
    • 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,975 Sqft ∙ Built 1978
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,515
    • $0.77
    •  
  • 6119 Elkwood Forest Drive Houston, TX 4
    • 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1978 4 beds 2 baths ∙ 1,762 Sqft ∙ Built 1978
    property image
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.88
    •  
  • 5911 Pincay Oaks Street Houston, TX 5
    • 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,828 Sqft ∙ Built 1976
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
PROPERTY LISTING DETAILS
Andrew Trainer
1.281.748.7401
Century 21 Western Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 87509485
Last Updated: 11/13/2020
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