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3710 Misty Ridge Drive Humble, TX 77396

3 Beds 3 Baths 1,773 sqft Built 1984

$146,500

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $82.63
  • 6 Days on Market
  • MLS # : 64520557
  • Updated Date : 12/02/2020 at 15:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gen Stone Realty

Listing Agent's Description

Large living area with a fireplace! Dining room, plus breakfast area. Large gameroom upstairs! Master down and check out the amazing backyard with the pool!!! Call or text for your showing today!!

SEE MORE

MARKET HIGHLIGHTS

  • 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: Atascocita Forest

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k255k

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

Neighborhood: Atascocita Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100010501100115012001250130013501400145015001550160016501700Rent in $9981714

* 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
Whispering Pines Elementary School Primary Regular 749 51 3
Humble Middle School Middle Regular 1,113 75 4
Humble High School High Regular 1,615 112 3

Whispering Pines Elementary School

  • Education Level: Primary
  • # of students: 749
  • # of teachers: 51
3
GreatSchools Rating

Humble Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 75
4
GreatSchools Rating

Humble High School

  • Education Level: High
  • # of students: 1,615
  • # of teachers: 112
3
GreatSchools Rating
 

$131,850$161,150$146,500

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$541
Property Tax -$430
Property Insurance -$147
HOA -$29
Property Management Fees -$99
CASH FLOW
$174

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.

$146,500

PROJECTED PRICE

$1,420

PROJECTED RENT

0.97%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,573

INVESTMENT

$44,573

Down Payment
$36,625
Rehab Estimate
$5,750
Closing Costs
$2,198

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$541

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,625
Loan Amount $109,875
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$13,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,538

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4203$1,4354$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 3710 Misty Ridge Drive Humble, TX 2
    • 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,773 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.80
    •  
  • 3618 Village Grove Drive Humble, TX 1
    • 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,691 Sqft ∙ Built 1982
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.82
    •  
  • 3818 Liles Lane Humble, TX 3
    • 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,585 Sqft ∙ Built 1994
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.91
    •  
  • 3802 Woodlace Drive Humble, TX 4
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 1994
    LEASED 07/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.83
    •  
  • 3710 Beckett Ridge Drive Humble, TX 5
    • 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,811 Sqft ∙ Built 1983
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
PROPERTY LISTING DETAILS
Deanna Parsons
1.832.444.8219
Gen Stone Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64520557
Last Updated: 12/02/2020
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