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351 W 26th Street Houston, TX 77008

3 Beds 4 Baths 2,405 sqft Built 2013

$425,000

List Price

$2,920

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $176.72
  • 5 Days on Market
  • MLS # : 22945315
  • Updated Date : 11/04/2020 at 15:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,405 sqft
  • Baths : 3 full , 1 half
Listing Agent

Executive Texas Realty

Listing Agent's Description

If you work inside the loop this is your location!! Close to HEB, bike circuits and trails, restaurants and outdoor life in the middle of the city!! Electric car connection. Gym mats. Modern style of life, with open concept kitchen to the family area, first floor room can simply be your home office. Extra large master bed. Real Wood flooring, move-in ready.

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: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k495k

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

Neighborhood: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9692561

* 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
Helms Elementary School Primary Magnet 513 29 4
Hamilton Middle School Middle Magnet 1,248 64 6
Reagan High School High Magnet 2,230 112 4

Helms Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 29
4
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Reagan High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 112
4
GreatSchools Rating
 

$382,500$467,500$425,000

PURCHASE PRICE

$2,628$3,212$2,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,920
EXPENSES Loan Payment -$1,568
Property Tax -$896
Property Insurance -$190
HOA -$115
Property Management Fees -$99
CASH FLOW
$52

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.

$425,000

PROJECTED PRICE

$2,920

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$118,375

INVESTMENT

$118,375

Down Payment
$106,250
Rehab Estimate
$5,750
Closing Costs
$6,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,568

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $106,250
Loan Amount $318,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$10,979

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,920

    LIST RENT
  • $1.21

    LIST RENT PER SQFT
  • $2,898

    COMP ESTIMATED VALUE
  • $1.21

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,9203$3,0004$3,1005$3,200
$3,200
RENT COMPS ANALYSIS
  • 351 W 26th Street Houston, TX 2
    • 3 beds 4 baths ∙ 2,405 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,405 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,920
    • $1.21
    •  
  • 219 W 27th Street Houston, TX 1
    • 3 beds 4 baths ∙ 2,489 Sqft ∙ Built 2008 3 beds 4 baths ∙ 2,489 Sqft ∙ Built 2008
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.08
    •  
  • 211 W 26th Street Houston, TX 3
    • 3 beds 3 baths ∙ 2,604 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,604 Sqft ∙ Built 2015
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.15
    •  
  • 201 W 24th Street Houston, TX 4
    • 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,348 Sqft ∙ Built 2014
    property image
    LEASED 11/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.32
    •  
  • 213 W 26th Street Houston, TX 5
    • 3 beds 3 baths ∙ 2,524 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,524 Sqft ∙ Built 2015
    property image
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.27
    •  
PROPERTY LISTING DETAILS
Vilma Seghesso De Bur
1.832.688.8408
Executive Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22945315
Last Updated: 11/04/2020
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