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5738 Praise Court Houston, TX 77048

3 Beds 2 Baths 1,247 sqft Built 2007

$165,000

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $132.32
  • 3 Days on Market
  • MLS # : 12520250
  • Updated Date : 03/19/2021 at 21:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,247 sqft
  • Baths : 2 full
Listing Agent

Champions Real Estate Group

Listing Agent's Description

Gorgeous rare find in Kingdom Come place. Located on a Cul-De-Sac. Huge back yard. Mrs Clean lives here. Hurry will not last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Kingdom Come Place

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Kingdom Come Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8841677

* 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
Frost Elementary School Primary Regular 648 32 5
Thomas Middle School Middle Regular 476 32 3
Sterling High School High Magnet 1,060 60 2

Frost Elementary School

  • Education Level: Primary
  • # of students: 648
  • # of teachers: 32
5
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Sterling High School

  • Education Level: High
  • # of students: 1,060
  • # of teachers: 60
2
GreatSchools Rating
 

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

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$573
Property Tax -$348
Property Insurance -$112
HOA -$23
Property Management Fees -$99
CASH FLOW
$176

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

$1,330

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.7%
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$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$600k

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 45% 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

7.58

YEARS SAVED

$15,887

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,322

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,330
1$1,3302$1,3503$1,4854$1,4855$1,485
$1,485
RENT COMPS ANALYSIS
  • 5738 Praise Court Houston, TX 1
    • 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.07
    •  
  • 5710 Abundant Life Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,271 Sqft ∙ Built 2010
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.06
    •  
  • 5811 Dawns Height Court Houston, TX 3
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2017
    LEASED 03/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.06
    •  
  • 5810 New Endings Court Houston, TX 4
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2017
    LEASED 01/29/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.06
    •  
  • 12306 Dawns Edge Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2017
    LEASED 03/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,485
    • $1.06
    •  
PROPERTY LISTING DETAILS
Travis Harris
1.713.295.1799
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 12520250
Last Updated: 03/19/2021
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