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417 W 27th Street Houston, TX 77008

3 Beds 2 Baths 1,534 sqft Built 2006

$335,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $218.38
  • 13 Days on Market
  • MLS # : 56955778
  • Updated Date : 01/29/2021 at 14:49
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,534 sqft
  • Baths : 2 full
Listing Agent

Move Houston Real Estate

Listing Agent's Description

Beautiful and well kept two story home in a quiet and friendly gated Heights community. Hardwood floors greet you at the door and lead you to the guest bedrooms, shared bath, and utility room. Rooms are more spacious that new construction homes. Upstairs, the wide open and airy floor plan is filled with natural light and perfect for hosting! The fabulous kitchen features all stainless steel appliances including a Jennair slide-in gas range, granite counters, and updated backsplash & faucets. Throughout the well decorated house are newer fans, lights, and plumbing fixtures. You can't beat the location! 3 mins from HEB and close to coffee shops, restaurants, and the hike and bike trails! No HOA, no stucco, and has never flooded! Schedule your appointment to see this beautiful home today!

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: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k495k

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

Neighborhood: Greater Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9692561

* 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
Helms Elementary School Primary Magnet 513 29 4
Hamilton Middle School Middle Magnet 1,248 64 6
Reagan High School High Magnet 2,230 112 4

Helms Elementary School

  • Education Level: Primary
  • # of students: 513
  • # of teachers: 29
4
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Reagan High School

  • Education Level: High
  • # of students: 2,230
  • # of teachers: 112
4
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,164
Property Tax -$706
Property Insurance -$131
HOA -$8
Property Management Fees -$99
CASH FLOW
-$8

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.

$335,000

PROJECTED PRICE

$2,100

PROJECTED RENT

0.63%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$5,568

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $1.37

    LIST RENT PER SQFT
  • $2,155

    COMP ESTIMATED VALUE
  • $1.41

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1954$2,3005$2,400
$2,400
RENT COMPS ANALYSIS
  • 417 W 27th Street Houston, TX 2
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.37
    •  
  • 3959 Tulane Street Houston, TX 1
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2018
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.33
    •  
  • 2503 Beall Street Houston, TX 3
    • 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,542 Sqft ∙ Built 2006
    LEASED 07/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,195
    • $1.42
    •  
  • 210 Marathon Street Houston, TX 4
    • 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,584 Sqft ∙ Built 2017
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.45
    •  
  • 627 W 20th Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2004
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.42
    •  
PROPERTY LISTING DETAILS
Joseph Garcia
1.832.703.5686
Move Houston Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56955778
Last Updated: 01/29/2021
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