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5910 Pinacle Point Houston, TX 77085

3 Beds 2 Baths 1,732 sqft Built 2000

$180,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 06, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $103.93
  • 2 Days on Market
  • MLS # : 53091093
  • Updated Date : 12/05/2020 at 17:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,732 sqft
  • Baths : 2 full
Listing Agent

Quest Real Estate

Listing Agent's Description

WELCOME HOME!! THIS CAN BE YOUR ADDRESS!! 2 car attached garage welcomes you to this cozy traditional home with plenty to offer. Three spacious carpeted bedrooms. Engineered wood floors in formal and living rooms, and a tiled kitchen. Tiled framed natural gas fire place with crown molded mantle. Spacious backyard. Home has never flooded.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Corinthian Pointe

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Corinthian Pointe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8631677

* 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
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$664
Property Tax -$380
Property Insurance -$144
HOA -$33
Property Management Fees -$99
CASH FLOW
$170

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.

$180,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.3%
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$12k

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$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$17,953

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,650

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,490
1$1,4902$1,5003$1,5254$1,5255$1,550
$1,550
RENT COMPS ANALYSIS
  • 5910 Pinacle Point Houston, TX 1
    • 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,732 Sqft ∙ Built 2000
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.86
    •  
  • 5915 Pinacle Point Houston, TX 2
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2000
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.93
    •  
  • 13442 Abide Drive Houston, TX 3
    • 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
    •  
  • 5731 Post Oak Manor Drive Houston, TX 4
    • 4 beds 2 baths ∙ 1,589 Sqft ∙ Built 2014 4 beds 2 baths ∙ 1,589 Sqft ∙ Built 2014
    property image
    LEASED 06/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.96
    •  
  • 5822 James Place Houston, TX 5
    • 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,611 Sqft ∙ Built 2000
    property image
    LEASED 07/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
PROPERTY LISTING DETAILS
Waland Walsh
1.832.527.1815
Quest Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 53091093
Last Updated: 12/05/2020
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