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PROPERTY INFO
FACTS
- Single Family
- Built In 2020
- Price/Sqft : $172.54
- 2 Days on Market
- MLS # : 58694886
- Updated Date : 12/12/2020 at 18:43
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Independence Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$73,282
LOAN DETAILS
$992
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $67,248 |
| Loan Amount | $201,743 |
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
-
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
- 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
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
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
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
LEASED 12/04/20- Rent
- Rent Per SQFT
- $1,995
- $1.17
PROPERTY LISTING DETAILS
1.713.868.7226
Urban Living
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 58694886
Last Updated: 12/12/2020
