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5115 Del Sur Street Houston, TX 77018

3 Beds 3 Baths 1,650 sqft Built 2021

$289,990

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
FACTS
  • Built In 2021
  • Price/Sqft : $175.75
  • 9 Days on Market
  • MLS # : 71158763
  • Updated Date : 10/27/2020 at 15:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,650 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Living

Listing Agent's Description

These spacious freestanding homes have more than 1,600 square feet featuring 3 bedrooms and 2.5 baths. The 1st floor features an open concept living, kitchen, and dining space providing a great space for entertaining guests. The island kitchen is finished with top tier appliances, soft close drawers. The luxurious master suite features dual closets. The Bathroom features a frameless shower, free-standing tub, and dual sinks. This location provides you with easy access to highways 610 and 45, as well as Shepherd Drive, Tidwell Road, and Yale Street. Close to some of Independence Heights favorite restaurants such as Esther's Cajun Cafe, Chacho's, and Mambo Seafood.

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: Independence Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $56k222k

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

Neighborhood: Independence Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7501677

* 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
Highland Heights Elementary School Primary Charter 567 32 1
Williams Middle School Middle Magnet 533 33 2
Washington High School High Magnet 707 48 2

Highland Heights Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 32
1
GreatSchools Rating

Williams Middle School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 33
2
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 707
  • # of teachers: 48
2
GreatSchools Rating
 

$260,991$318,989$289,990

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$1,070
Property Tax -$636
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
$87

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 11% of earned rent to cover both maintenance and periods of vacancy.

$289,990

PROJECTED PRICE

$2,030

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) -0.7%
Maintenance Year (1-5) 3.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$78,847

INVESTMENT

$78,847

Down Payment
$72,498
Rehab Estimate
$2,000
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,498
Loan Amount $217,493
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$14,694

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $1.23

    LIST RENT PER SQFT
  • $2,009

    COMP ESTIMATED VALUE
  • $1.22

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9503$1,9954$2,0005$2,030
$2,030
RENT COMPS ANALYSIS
  • 5115 Del Sur Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2021 3 beds 3 baths ∙ 1,650 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $1.23
    •  
  • 6105 Yale Street Houston, TX 1
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.27
    •  
  • 6061 Yale Street Houston, TX 2
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2008
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.30
    •  
  • 646 Westcross Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2013
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.17
    •  
  • 650 Westcross Street Houston, TX 4
    • 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,772 Sqft ∙ Built 2013
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.13
    •  
PROPERTY LISTING DETAILS
Vinod Ramani
1.713.868.7226
Urban Living
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 71158763
Last Updated: 10/27/2020
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