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623 Batten Way Crosby, TX 77532

5 Beds 4 Baths 2,218 sqft Built 2003

$225,000

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $101.44
  • 3 Days on Market
  • MLS # : 76338213
  • Updated Date : 03/05/2021 at 18:43
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,218 sqft
  • Baths : 3 full , 1 half
Listing Agent

Redfin Corporation

Listing Agent's Description

Custom 5 bed, 3.5-bath home in the golf course community of Newport! Home features an open floor plan, 1st floor primary suite with en-suite bath with dual vanities, walk-in closet and tile floors. The 2nd floor is complete with 4 bedrooms that share 2 Jack and Jill baths and a game room. Spacious backyard and storage shed with power. Easy access to Highway 90.

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: Newport

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $89k222k

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

Neighborhood: Newport

NeighborhoodNIR 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 High School High Regular 1,580 98 4

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 High School

  • Education Level: High
  • # of students: 1,580
  • # of teachers: 98
4
GreatSchools Rating
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$782
Property Tax -$538
Property Insurance -$177
HOA -$55
Property Management Fees -$99
CASH FLOW
$100

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.

$225,000

PROJECTED PRICE

$1,750

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.4%
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$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$7,767

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,780

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,7003$1,7504$1,8005$1,825
$1,825
RENT COMPS ANALYSIS
  • 623 Batten Way Crosby, TX 3
    • 5 beds 4 baths ∙ 2,218 Sqft ∙ Built 2003 5 beds 4 baths ∙ 2,218 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 17427 Port O' Call Crosby, TX 1
    • 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,970 Sqft ∙ Built 2005
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.76
    •  
  • 702 Neap Court Crosby, TX 2
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 330 Harbor Mist Drive Crosby, TX 4
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 17107 Scuttle Way Crosby, TX 5
    • 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,196 Sqft ∙ Built 2005
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.83
    •  
PROPERTY LISTING DETAILS
Christopher Johns
1.713.702.2256
Redfin Corporation
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76338213
Last Updated: 03/05/2021
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