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4435 Iron Horse Drive Houston, TX 77069

4 Beds 3 Baths 2,130 sqft Built 2019

$239,000

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $112.21
  • 3 Days on Market
  • MLS # : 34543924
  • Updated Date : 02/06/2021 at 16:09
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,130 sqft
  • Baths : 3 full
Listing Agent

Gill Fine Properties, Llc

Listing Agent's Description

A true retreat in north Houston's highly acclaimed Klein School District. This 2 story home blends tradition with innovative spaces for the way families live. The home features 4 bedrooms, 3 full bathrooms, 2 car garage and an open concept living + kitchen + dining. Downstairs you will find a secondary bedroom + bathroom - perfect for out of town guests or it can also be used as an office. Primary suite plus 2 additional bedrooms can be found on the second floor, along with a spacious game room. Upgrades include 9 feet ceilings, granite countertops, 42-inch cabinets and stainless steel appliances. Primary bath is the perfect place to relax with a double vanity, walk-i shower and bath window. Home sits on an oversized corner lot in a quiet cul-de-sac; centrally located to I-45 and Beltway 8. Call now to schedule your private showing! This one won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Zip Code: 77069

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Zip Code: 77069

ZipNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600170018001900200021002200Rent in $9692237

* 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
Mittelstadt Elementary School Primary Regular 857 55 5
Kleb Intermediate School Middle Regular 1,396 76 6
Klein High School High Regular 3,885 228 6

Mittelstadt Elementary School

  • Education Level: Primary
  • # of students: 857
  • # of teachers: 55
5
GreatSchools Rating

Kleb Intermediate School

  • Education Level: Middle
  • # of students: 1,396
  • # of teachers: 76
6
GreatSchools Rating

Klein High School

  • Education Level: High
  • # of students: 3,885
  • # of teachers: 228
6
GreatSchools Rating
 

$215,100$262,900$239,000

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$830
Property Tax -$504
Property Insurance -$171
HOA -$42
Property Management Fees -$99
CASH FLOW
$194

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.

$239,000

PROJECTED PRICE

$1,840

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.8%
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$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,085

INVESTMENT

$69,085

Down Payment
$59,750
Rehab Estimate
$5,750
Closing Costs
$3,585

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$830

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,750
Loan Amount $179,250
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$14,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,800

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7953$1,8004$1,8005$1,840
$1,840
RENT COMPS ANALYSIS
  • 4435 Iron Horse Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,130 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.86
    •  
  • 4211 False Cypress Lane Houston, TX 1
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2015
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.80
    •  
  • 4434 Champions Landing Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,033 Sqft ∙ Built 2018
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.88
    •  
  • 4402 Champions Landing Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,189 Sqft ∙ Built 2017
    LEASED 10/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 4022 Fernglade Drive Houston, TX 4
    • 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,050 Sqft ∙ Built 2016
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.88
    •  
PROPERTY LISTING DETAILS
Simran Mann
1.281.698.0029
Gill Fine Properties, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 34543924
Last Updated: 02/06/2021
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