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4502 Mallory Creek Drive Humble, TX 77396

4 Beds 3 Baths 2,876 sqft Built 2013

$269,900

List Price

$2,240

$2K - $2.5K

Rent Est.

PROPERTY INFO

January 31, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $93.85
  • 2 Days on Market
  • MLS # : 15271032
  • Updated Date : 01/30/2021 at 22:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,876 sqft
  • Baths : 2 full , 1 half
Listing Agent

Glass House Realty Llc

Listing Agent's Description

Welcome Home to 4502 Mallory Creek Drive!! This GORGEOUS home is located in the gated community of The Estates of Park Lakes! Key features include 4 spacious bedrooms, 2 full and 1 half bathroom, home office which can also be utilized as a formal dining room, gameroom and family room with soaring ceilings! The Owner's Retreat showcases a walk-in closet and luxurious master bath with a soaking tub and separate shower. This corner lot offers plenty of space for entertaining right in your back yard! Perfectly situated just a few quick minutes from the Sam Houston Toll Road, you’ll enjoy a stress-free commute in and around town! Don’t miss an opportunity to see this great home!!

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: Canyon Gate at Park Lakes

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k255k

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

Neighborhood: Canyon Gate at Park Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10422771

* 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
Park Lakes Elementary School Primary Regular 716 49 5
Humble Middle School Middle Regular 1,113 75 4
Humble High School High Regular 1,615 112 3

Park Lakes Elementary School

  • Education Level: Primary
  • # of students: 716
  • # of teachers: 49
5
GreatSchools Rating

Humble Middle School

  • Education Level: Middle
  • # of students: 1,113
  • # of teachers: 75
4
GreatSchools Rating

Humble High School

  • Education Level: High
  • # of students: 1,615
  • # of teachers: 112
3
GreatSchools Rating
 

$242,910$296,890$269,900

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$937
Property Tax -$763
Property Insurance -$222
HOA -$88
Property Management Fees -$99
CASH FLOW
$131

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.

$269,900

PROJECTED PRICE

$2,240

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$8,132

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,322

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2003$2,2404$2,2505$2,325
$2,325
RENT COMPS ANALYSIS
  • 4502 Mallory Creek Drive Humble, TX 3
    • 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,876 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.78
    •  
  • 4731 Red Canna Vista Humble, TX 1
    • 4 beds 4 baths ∙ 3,026 Sqft ∙ Built 2007 4 beds 4 baths ∙ 3,026 Sqft ∙ Built 2007
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 14914 Fall Creek Preserve Drive Humble, TX 2
    • 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,679 Sqft ∙ Built 2012
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 9219 Lakeway View Lane Humble, TX 4
    • 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 2005
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 9503 Fossil Canyon Drive Humble, TX 5
    • 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,782 Sqft ∙ Built 2008
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.84
    •  
PROPERTY LISTING DETAILS
Boydeia Glass
1.832.372.4135
Glass House Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 15271032
Last Updated: 01/30/2021
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