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PROPERTY INFO
FACTS
- Single Family
- Built In 1983
- Price/Sqft : $126.32
- 95 Days on Market
- MLS # : 84293037
- Updated Date : 12/02/2020 at 15:22
CONSTRUCTION
- Beds : 3
- Floor Size : 1,702 sqft
- Baths : 2 full
Listing Agent
Re/max Space Center-clear Lake
Listing Agent's Description
Outdoor lovers will enjoy this property with a cozy 3 bedroom, 2 bath house with 2 car attached garage with easy access to I-45. Spacious family room, located just off dining room, includes a wood-burning fireplace and a wet bar. Kitchen features quartz countertops, breakfast bar, gas range and a door leading to the back covered patio. Primary bedroom has high ceilings with door and storm door leading to covered back patio and gas-fired hot tub. Primary bath has garden tub and shower, vanity and walk-in closet. Large utility area inside the house (rare for Piper's Meadow) for washer &dryer, plus counter space for folding clothes next to kitchen. 18x10 Hardi Plank shed is surrounded by fruit trees (pear, orange & lemon) and 20x20 raised vegetable garden bed. Generator attached to the house. 30 year transferable warranty on roof.
SEE MORE
- 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)
- 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)
PRICE & RENT TRENDS
Neighborhood: Pipers Meadow
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Pipers Meadow
* 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 | -$793 |
| Property Tax | -$453 | |
| Property Insurance | -$142 | |
| HOA | -$26 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$76
|
||
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.
$215,000
PROJECTED PRICE
$1,590
PROJECTED RENT
0.74%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 7.4% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.80% |
| 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
$62,725
LOAN DETAILS
$793
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
4.25
YEARS SAVED
$9,604
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 -
$0.93
LIST RENT PER SQFT
-
$1,693
COMP ESTIMATED VALUE -
$1
COMP AVG. RENT PER SQFT
Comps Range
-
359 Elder Vista Drive Houston, TX 3
- 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,702 Sqft ∙ Built 1983
- Rent
- Rent Per SQFT
- $1,590
- $0.93
-
422 Reseda Drive Houston, TX 1
- 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,556 Sqft ∙ Built 1980
LEASED 07/17/20- Rent
- Rent Per SQFT
- $1,550
- $1.00
-
15731 Castorglen Webster, TX 2
- 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 1983
LEASED 12/01/19- Rent
- Rent Per SQFT
- $1,590
- $0.96
-
315 Wedgerock Drive Houston, TX 4
- 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,598 Sqft ∙ Built 1982
LEASED 03/27/20- Rent
- Rent Per SQFT
- $1,600
- $1.00
-
347 Elder Vista Drive Houston, TX 5
- 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,723 Sqft ∙ Built 1983
LEASED 05/23/20- Rent
- Rent Per SQFT
- $1,750
- $1.02
PROPERTY LISTING DETAILS
1.281.204.1001
Re/max Space Center-clear Lake
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 84293037
Last Updated: 12/02/2020
