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3607 Macon Place Court Houston, TX 77082

5 Beds 3 Baths 2,441 sqft Built 1981

$186,000

List Price

$1,580

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $76.20
  • 7 Days on Market
  • MLS # : 98853343
  • Updated Date : 11/06/2020 at 22:00
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,441 sqft
  • Baths : 3 full
Listing Agent

Veronica Mendoza Realty, Llc.

Listing Agent's Description

Five bedroom home with 2 baths on a cul de sac just waiting on you to move in.

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: Forestview

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Forestview

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8841677

* 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
Miller Intermediate School Primary Regular 872 63 6
Albright Middle School Middle Regular 1,267 87 6
Hastings High School High Regular 3,890 260 4

Miller Intermediate School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 63
6
GreatSchools Rating

Albright Middle School

  • Education Level: Middle
  • # of students: 1,267
  • # of teachers: 87
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$167,400$204,600$186,000

PURCHASE PRICE

$1,422$1,738$1,580

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$686
Property Tax -$405
Property Insurance -$192
HOA -$21
Property Management Fees -$99
CASH FLOW
$177

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.

$186,000

PROJECTED PRICE

$1,580

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.5%
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$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$55,040

INVESTMENT

$55,040

Down Payment
$46,500
Rehab Estimate
$5,750
Closing Costs
$2,790

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$686

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,500
Loan Amount $139,500
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$17,921

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,599

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4503$1,5454$1,5805$1,850
$1,850
RENT COMPS ANALYSIS
  • 3607 Macon Place Court Houston, TX 4
    • 5 beds 3 baths ∙ 2,441 Sqft ∙ Built 1981 5 beds 3 baths ∙ 2,441 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.65
    •  
  • 15734 Tammany Lane Houston, TX 1
    • 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,245 Sqft ∙ Built 1983
    property image
    LEASED 11/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.63
    •  
  • 15931 Pfeiffer Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,254 Sqft ∙ Built 1981
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.64
    •  
  • 3119 Perrington Houston, TX 3
    • 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,467 Sqft ∙ Built 1995
    property image
    LEASED 05/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.63
    •  
  • 3210 Cherrybark Oak Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,562 Sqft ∙ Built 1998
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.72
    •  
PROPERTY LISTING DETAILS
Veronica Mendoza
1.281.530.0111
Veronica Mendoza Realty, Llc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 98853343
Last Updated: 11/06/2020
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