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3910 Forney Ridge Lane Houston, TX 77047

4 Beds 2 Baths 1,380 sqft Built 2005

$179,999

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $130.43
  • 15 Days on Market
  • MLS # : 46689975
  • Updated Date : 02/23/2021 at 12:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,380 sqft
  • Baths : 2 full
Listing Agent

Bengal Realty, Llc

Listing Agent's Description

A fascinating 4 Bed 2 bath home is now ready for immediate move-in. Tiles in kitchen, formal dining and living. 15 minutes from downtown/Medical center. Very convenient location, All shopping malls nearby and close to all major highways. This is a must see!! You will not be disappointed and that could be your last house to see!!!

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: Brunswick Lakes

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k263k

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

Neighborhood: Brunswick Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Law Elementary School Primary Magnet 748 39 3
Thomas Middle School Middle Regular 476 32 3
Worthing High School High Magnet 681 38 2

Law Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 39
3
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Worthing High School

  • Education Level: High
  • # of students: 681
  • # of teachers: 38
2
GreatSchools Rating
 

$161,999$197,999$179,999

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$625
Property Tax -$446
Property Insurance -$120
HOA -$40
Property Management Fees -$99
CASH FLOW
$110

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.

$179,999

PROJECTED PRICE

$1,440

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.8%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $134,999
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$9,527

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.04

    LIST RENT PER SQFT
  • $1,470

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,4503$1,5504$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 3910 Forney Ridge Lane Houston, TX 1
    • 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,380 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.04
    •  
  • 14003 Prosperity Ridge Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 2005
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.97
    •  
  • 3863 St Simon Manor Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,368 Sqft ∙ Built 2007
    LEASED 08/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.13
    •  
  • 4015 Bealey Lane Houston, TX 4
    • 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,405 Sqft ∙ Built 2004
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.10
    •  
  • 3815 Frostdale Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,553 Sqft ∙ Built 2004
    LEASED 12/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.06
    •  
PROPERTY LISTING DETAILS
Mohammed Bhuiyan
1.713.820.8840
Bengal Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 46689975
Last Updated: 02/23/2021
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