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4527 Echo Falls Drive Houston, TX 77345

4 Beds 3 Baths 2,046 sqft Built 1990

INVESTimate

$214,500

List Price

$1,740

$1,566 - $1,914

Rent Est.

$229,022  ( +6.77%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 1990
  • Price/Sqft : $104.84
  • 6 Days on Market
  • MLS # : 55769315
  • Updated Date : 08/21/2020 at 17:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,046 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jla Realty

Listing Agent's Description

Beautiful 4 bedroom home in Mills Branch! This home is move-in ready. Master bedroom down with 3 bedrooms up. Granite counter tops in kitchen and all bathrooms. Fresh paint throughout the interior. White cabinets in kitchen. Flooring recently updated. Large back yard with no back neighbors. This home DID NOT FLOOD during Harvey or Imelda.

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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: Mills Branch Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Mills Branch Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Hidden Hollow Elementary School Primary Regular 521 35 7
Creekwood Middle School Middle Regular 1,094 62 9
Kingwood High School High Regular 2,610 140 9

Hidden Hollow Elementary School

  • Education Level: Primary
  • # of students: 521
  • # of teachers: 35
7
GreatSchools Rating

Creekwood Middle School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 62
9
GreatSchools Rating

Kingwood High School

  • Education Level: High
  • # of students: 2,610
  • # of teachers: 140
9
GreatSchools Rating
 

$193,050$235,950$214,500

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$791
Property Tax -$452
Property Insurance -$165
HOA -$39
Property Management Fees -$99
CASH FLOW
$193

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.

$214,500

PROJECTED PRICE

$1,740

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.77%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,593

INVESTMENT

$62,593

Down Payment
$53,625
Rehab Estimate
$5,750
Closing Costs
$3,218

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$791

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,625
Loan Amount $160,875
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$17,427

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,714

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,545
1$1,5452$1,6503$1,7004$1,7005$1,740
$1,740
RENT COMPS ANALYSIS
  • 4527 Echo Falls Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,046 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.85
    •  
  • 3906 Hidden Glen Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1978
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,545
    • $0.79
    •  
  • 3606 Appalachian Trl Houston, TX 2
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 1991
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
  • 3810 Babbling Creek Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1989 3 beds 3 baths ∙ 1,999 Sqft ∙ Built 1989
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 3911 Sweetgum Hill Lane Kingwood, TX 4
    • 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1989
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.82
    •  
PROPERTY LISTING DETAILS
John Kerr
1.281.413.6425
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55769315
Last Updated: 08/21/2020
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