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5807 Cinnamon Creek Circle Houston, TX 77084

3 Beds 3 Baths 1,620 sqft Built 1985

$175,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 04, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $108.02
  • 5 Days on Market
  • MLS # : 49055499
  • Updated Date : 11/05/2020 at 18:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Signature

Listing Agent's Description

Great 2 story home in Charlestown Colony. Home features 3 bedrooms, 2.5 baths, Spacious living area with fireplace, Kitchen with lots of storage and granite counter tops - also features a stunning brick wall that encompasses the stove top. Breakfast/Dining Area. Master has private bath with double sinks and walk in closet. Let this be the next place you call home.

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: Charlestown Colony

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Charlestown Colony

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9631677

* 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
Horne Elementary School Primary Regular 1,091 65 4
Truitt Middle School Middle Regular 1,412 94 5
Cypress Falls High School High Regular 3,667 214 NA

Horne Elementary School

  • Education Level: Primary
  • # of students: 1,091
  • # of teachers: 65
4
GreatSchools Rating

Truitt Middle School

  • Education Level: Middle
  • # of students: 1,412
  • # of teachers: 94
5
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students: 3,667
  • # of teachers: 214
NA
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$646
Property Tax -$416
Property Insurance -$137
HOA -$28
Property Management Fees -$99
CASH FLOW
$85

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$175,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

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$52,125

INVESTMENT

$52,125

Down Payment
$43,750
Rehab Estimate
$5,750
Closing Costs
$2,625

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$646

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$8,367

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,405

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,370
1$1,3702$1,4003$1,4104$1,4955$1,500
$1,500
RENT COMPS ANALYSIS
  • 5807 Cinnamon Creek Circle Houston, TX 3
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.87
    •  
  • 14434 Old Tybee Road Houston, TX 1
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985
    property image
    LEASED 11/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $0.85
    •  
  • 14427 Golden Pond Drive Houston, TX 2
    • 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,620 Sqft ∙ Built 1985
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.86
    •  
  • 14726 Tilley Street Houston, TX 4
    • 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,718 Sqft ∙ Built 1983
    property image
    LEASED 12/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.87
    •  
  • 6215 Summerville Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,687 Sqft ∙ Built 1996
    property image
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.89
    •  
PROPERTY LISTING DETAILS
Traye Wise
1.713.907.4233
Re/max Signature
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 49055499
Last Updated: 11/05/2020
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