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5116 Del Sur Street Houston, TX 77018

3 Beds 3 Baths 1,559 sqft Built 2020

$268,990

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $172.54
  • 2 Days on Market
  • MLS # : 85375698
  • Updated Date : 12/12/2020 at 18:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,559 sqft
  • Baths : 2 full , 1 half
Listing Agent

Urban Living

Listing Agent's Description

These spacious freestanding homes have more than 1,500 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 a beautiful arctic white quartz, top tier appliances, soft close drawers, and a wine fridge, perfect for any chef! The luxurious master suite features a large closet and attached is a beautifully tiled master bathroom with a frameless shower, a 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
 

$242,091$295,889$268,990

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$992
Property Tax -$567
Property Insurance -$133
Property Management Fees -$99
CASH FLOW
$139

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.

$268,990

PROJECTED PRICE

$1,930

PROJECTED RENT

0.72%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,282

INVESTMENT

$73,282

Down Payment
$67,248
Rehab Estimate
$2,000
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,248
Loan Amount $201,743
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$18,863

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $1.23

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,8503$1,9304$1,9505$1,995
$1,995
RENT COMPS ANALYSIS
  • 5116 Del Sur Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,559 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $1.24
    •  
  • 836 Paul Quinn Street Houston, TX 1
    • 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,260 Sqft ∙ Built 2016
    property image
    LEASED 05/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.19
    •  
  • 6105 Yale Street Houston, TX 2
    • 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,452 Sqft ∙ Built 2007
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.27
    •  
  • 6061 Yale Street Houston, TX 4
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2008
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.30
    •  
  • 646 Westcross Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,709 Sqft ∙ Built 2013
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $1.17
    •  
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 #: 85375698
Last Updated: 12/12/2020
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