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5735 Lotus Street Houston, TX 77085

3 Beds 2 Baths 1,411 sqft Built 2005

$169,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $120.41
  • 5 Days on Market
  • MLS # : 84520311
  • Updated Date : 11/07/2020 at 18:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,411 sqft
  • Baths : 2 full
Listing Agent

Re/max Grand

Listing Agent's Description

BEAUTIL HOME. PRIMARY BEDROOM DOWN STAIRS AND 2 BEDROOMS UP WITH ONE BATH UPSTAIRS. NEW LAMINATED WOOD UPSTAIRS AND STAIRS. CERAMIC FLOOR DOWN STAIRS, NEW APPLIANCES COMING SOON AS WELL AS NEW A/C UNIT . READY TO MOVE IN, NO GARAGE.

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: Post Oak Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Post Oak Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8341677

* 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
Hines-caldwell Elementary School Primary Regular 807 43 8
Dowling Middle School Middle Magnet 1,200 67 2
Madison High School High Magnet 1,833 107 2

Hines-caldwell Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 43
8
GreatSchools Rating

Dowling Middle School

  • Education Level: Middle
  • # of students: 1,200
  • # of teachers: 67
2
GreatSchools Rating

Madison High School

  • Education Level: High
  • # of students: 1,833
  • # of teachers: 107
2
GreatSchools Rating
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$627
Property Tax -$358
Property Insurance -$123
HOA -$25
Property Management Fees -$99
CASH FLOW
$168

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.

$169,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.9%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$18,066

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,464

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,4454$1,4755$1,525
$1,525
RENT COMPS ANALYSIS
  • 5735 Lotus Street Houston, TX 2
    • 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,411 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
  • 5634 Tiger Lilly Way Houston, TX 1
    • 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,355 Sqft ∙ Built 2003
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.03
    •  
  • 5807 Post Oak Manor Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,307 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,307 Sqft ∙ Built 2014
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.11
    •  
  • 5827 Post Oak Manor Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2014
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.05
    •  
  • 13442 Abide Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,595 Sqft ∙ Built 2014
    property image
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.96
    •  
PROPERTY LISTING DETAILS
Cecilia Cardenas
1.281.994.5700
Re/max Grand
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84520311
Last Updated: 11/07/2020
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