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PROPERTY INFO
FACTS
- Single Family
- Built In 1981
- Price/Sqft : $143.16
- 5 Days on Market
- MLS # : 88981008
- Updated Date : 02/10/2021 at 21:30
CONSTRUCTION
- Beds : 3
- Floor Size : 1,536 sqft
- Baths : 2 full
Listing Agent
Prime Realty Group
Listing Agent's Description
Take a look at this beautiful updated home in Fairmont Park. This home offers 3 bedrooms and 2 full baths. The large living room has brand new laminate flooring and new paint throughout. The kitchen has been completely updated with new cabinets, granite counter tops and recently installed appliances. The master offers a walk-in closet, new laminate flooring and the master bath has been updated with a walk-in shower and a new vanity. Outside you will find a covered back patio and a brand new fence. Foundation work was just completed with a transferable warranty. Don't miss out on this fantastic home!
SEE MORE
- 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: Fairmont Park West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Fairmont Park West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,640 |
| EXPENSES | Loan Payment | -$764 |
| Property Tax | -$532 | |
| Property Insurance | -$131 | |
| HOA | -$10 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$104
|
||
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.
$219,900
PROJECTED PRICE
$1,640
PROJECTED RENT
0.75%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.94% |
| Appreciation Year (1-5) | 8.4% |
| 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
$64,024
LOAN DETAILS
$764
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $54,975 |
| Loan Amount | $164,925 |
4.42
YEARS SAVED
$9,058
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,640
LIST RENT -
$1.07
LIST RENT PER SQFT
-
$1,651
COMP ESTIMATED VALUE -
$1.08
COMP AVG. RENT PER SQFT
Comps Range
-
3827 Rosemont Drive La Porte, TX 3
- 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,536 Sqft ∙ Built 1981
![property image]()
- Rent
- Rent Per SQFT
- $1,640
- $1.07
-
9831 Rocky Hollow Road La Porte, TX 1
- 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,421 Sqft ∙ Built 1980
![property image]()
LEASED 12/02/20- Rent
- Rent Per SQFT
- $1,550
- $1.09
-
10114 Rustic Gate Road La Porte, TX 2
- 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1978
![property image]()
LEASED 05/25/20- Rent
- Rent Per SQFT
- $1,595
- $0.97
-
3815 Willmont Road La Porte, TX 4
- 4 beds 2 baths ∙ 1,406 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,406 Sqft ∙ Built 1981
![property image]()
LEASED 02/29/20- Rent
- Rent Per SQFT
- $1,650
- $1.17
-
9751 Clairmont Drive La Porte, TX 5
- 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981
![property image]()
LEASED 08/01/20- Rent
- Rent Per SQFT
- $1,750
- $1.07
PROPERTY LISTING DETAILS
1.713.299.1882
Prime Realty Group
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 88981008
Last Updated: 02/10/2021
