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5415 Fairview Forest Drive Houston, TX 77088

3 Beds 2 Baths 1,561 sqft Built 1982

$165,000

List Price

$1,320

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $105.70
  • 7 Days on Market
  • MLS # : 88984984
  • Updated Date : 01/04/2021 at 23:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,561 sqft
  • Baths : 2 full
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Charming one-story home in cul-de-sac, with three bedrooms and two bathrooms. Expansive Living Room with fireplace, that leads in to the formal dining room. Breakfast area located right off the kitchen overlooks the outdoor patio. Spacious bedrooms with walk-in closets. Convenient Access to 249 and I-45. Scheduled your showing today!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Inwood North

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Inwood North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8301677

* 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
Nitsch Elementary School Primary Regular 768 67 3
Klein Intermediate School Middle Regular 1,232 93 3
Klein Forest High School High Regular 3,589 258 3

Nitsch Elementary School

  • Education Level: Primary
  • # of students: 768
  • # of teachers: 67
3
GreatSchools Rating

Klein Intermediate School

  • Education Level: Middle
  • # of students: 1,232
  • # of teachers: 93
3
GreatSchools Rating

Klein Forest High School

  • Education Level: High
  • # of students: 3,589
  • # of teachers: 258
3
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,188$1,452$1,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,320
EXPENSES Loan Payment -$573
Property Tax -$399
Property Insurance -$133
HOA -$25
Property Management Fees -$99
CASH FLOW
$92

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$165,000

PROJECTED PRICE

$1,320

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
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

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$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

4.83

YEARS SAVED

$8,144

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,320

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,311

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3203$1,4004$1,4505$1,600
$1,600
RENT COMPS ANALYSIS
  • 5415 Fairview Forest Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,561 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,320
    • $0.85
    •  
  • 5422 Briarwood Forest Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1980
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.78
    •  
  • 5414 Fairview Forest Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,697 Sqft ∙ Built 1982
    property image
    LEASED 09/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.82
    •  
  • 6223 Saint Anne Forest Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,726 Sqft ∙ Built 1983
    property image
    LEASED 05/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 8314 Streamside Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,734 Sqft ∙ Built 1980
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Kelley Banks
1.713.686.5454
Berkshire Hathaway Homeservice
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88984984
Last Updated: 01/04/2021
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