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4231 Glenchase Lane Houston, TX 77014

4 Beds 3 Baths 2,197 sqft Built 1984

INVESTimate

$175,000

List Price

$1,570

$1,413 - $1,727

Rent Est.

$185,675  ( +6.10%)   1 YR EST. FORECAST

PROPERTY INFO

August 23, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $79.65
  • 5 Days on Market
  • MLS # : 80920420
  • Updated Date : 08/24/2020 at 09:51
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,197 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Lovely describes this beautiful 4 bedroom 2.5 bathroom home nestled in the heart of the Torrey Pines Subdivision. This home's district architectural features certainly boast that it is one of a kind!!! Enjoy the benefits of an amazing open floor plan, large windows, tons of natural light, and lovely formal dining. Cozy up in the large family room featuring a stunning brick fireplace. This home also features lush landscaping, exquisite curb appeal and so much more! Settle into this exclusive community complete with beautiful trails, lakes, & playgrounds. Home is conveniently located close to Downtown, Willowbrook, 249, and Beltway 8!!! Schedule your showing 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: Torrey Pines

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Torrey Pines

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101689

* 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
Beneke Elementary School Primary Regular 762 50 6
Edwin M. Wells Middle School Middle Regular 1,356 77 3
Westfield High School High Regular 3,268 163 2

Beneke Elementary School

  • Education Level: Primary
  • # of students: 762
  • # of teachers: 50
6
GreatSchools Rating

Edwin M. Wells Middle School

  • Education Level: Middle
  • # of students: 1,356
  • # of teachers: 77
3
GreatSchools Rating

Westfield High School

  • Education Level: High
  • # of students: 3,268
  • # of teachers: 163
2
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$646
Property Tax -$467
Property Insurance -$176
HOA -$52
Property Management Fees -$99
CASH FLOW
$130

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.

$175,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.10%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$11,570

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5503$1,5704$1,5755$1,599
$1,599
RENT COMPS ANALYSIS
  • 4231 Glenchase Lane Houston, TX 3
    • 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,197 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.71
    •  
  • 4706 Geneva Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1977 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 1977
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.70
    •  
  • 12406 Sarti Street Houston, TX 2
    • 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,148 Sqft ∙ Built 1981
    property image
    LEASED 02/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.72
    •  
  • 13914 Sableridge Drive Houston, TX 4
    • 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 1997 3 beds 3 baths ∙ 2,246 Sqft ∙ Built 1997
    property image
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.70
    •  
  • 4222 Hambledon Village Drive Houston, TX 5
    • 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1994 4 beds 2 baths ∙ 2,243 Sqft ∙ Built 1994
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,599
    • $0.71
    •  
PROPERTY LISTING DETAILS
Ryan Jockers
1.281.685.1889
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80920420
Last Updated: 08/24/2020
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