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622 Pequin Road Crosby, TX 77532

3 Beds 2 Baths 1,417 sqft Built 2009

$167,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 25, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2009
  • Price/Sqft : $117.85
  • 3 Days on Market
  • MLS # : 25547389
  • Updated Date : 12/26/2020 at 23:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,417 sqft
  • Baths : 2 full
Listing Agent

Re/max 5 Star Realty

Listing Agent's Description

Super adorable opened concept home with split floor plan, formal dining, high ceiling, all tile floor, bronze fixtures throughout, fire place, breakfast bar, plenty of cabinet space, large primary bedroom, and primary bathroom with garden tub, stand up shower and double sink. Home has been well maintained and Never Flooded. Former tenant describes the neighborhood as family friendly and comfortable.

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

Zip Code: 77532

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Zip Code: 77532

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8591677

* 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
Newport Elementary School Primary Regular 683 48 7
Crosby Middle School Middle Regular 809 50 6
Crosby Middle School High Regular 809 50 6

Newport Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 48
7
GreatSchools Rating

Crosby Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating

Crosby Middle School

  • Education Level: High
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating
 

$150,300$183,700$167,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$616
Property Tax -$398
Property Insurance -$123
HOA -$23
Property Management Fees -$99
CASH FLOW
$241

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.

$167,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.90%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.3%
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$50,005

INVESTMENT

$50,005

Down Payment
$41,750
Rehab Estimate
$5,750
Closing Costs
$2,505

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$616

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,750
Loan Amount $125,250
See What Happens When You Reinvest Cash Flow

9.25

YEARS SAVED

$24,851

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,495

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,349
1$1,3492$1,4503$1,5004$1,5005$1,600
$1,600
RENT COMPS ANALYSIS
  • 622 Pequin Road Crosby, TX 4
    • 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,417 Sqft ∙ Built 2009
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.06
    •  
  • 6202 Borage Street Crosby, TX 1
    • 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,306 Sqft ∙ Built 2009
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $1.03
    •  
  • 6030 Lovage Avenue Crosby, TX 2
    • 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,371 Sqft ∙ Built 2009
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.06
    •  
  • 619 Pequin Road Crosby, TX 3
    • 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,328 Sqft ∙ Built 2008
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.13
    •  
  • 6131 Borage Street Crosby, TX 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2007
    LEASED 07/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Stephanie Zamora
1.832.414.1297
Re/max 5 Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 25547389
Last Updated: 12/26/2020
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