Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2019
- Price/Sqft : $198.76
- 6 Days on Market
- MLS # : 71076207
- Updated Date : 11/13/2020 at 16:53
CONSTRUCTION
- Beds : 3
- Floor Size : 2,010 sqft
- Baths : 2 full , 2 half
Listing Agent
Realty Associates
Listing Agent's Description
Welcome to the Gated Community by Arcade Development. Stunning newer home w/a 2 car garage, large foyer, & plenty of closets throughout. Handsome wood "look" tiled floors, welcoming palette, upgraded lighting/ceiling fans, 2 full & 2 half upscale baths, & 3 generous sized bedrooms. Gorgeous chef's kitchen features a center island, quartz counters, high-end SS appliances & a plethora of upgraded wood cabinetry. The dining area is perfect for entertaining as part of the great room. 10' Ceilings! Plush carpet/padding in all bedrooms, wood stairways, lots of natural/sunlight throughout, & impressive bathrooms w/designer touches. Garage service door, low-care landscape, & Close to Shopping, Restaurants, & more This Contemporary home is a must-see on your list! (Some pictures have been virtually modified to include furniture in order to show the distribution and available space).
SEE MORE
- 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: Greater Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Greater Heights
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,720 |
| EXPENSES | Loan Payment | -$1,474 |
| Property Tax | -$842 | |
| Property Insurance | -$163 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$142
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.
$399,500
PROJECTED PRICE
$2,720
PROJECTED RENT
0.68%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 5.6% |
| Maintenance Year (1-5) | 3.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$107,868
LOAN DETAILS
$1,474
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $99,875 |
| Loan Amount | $299,625 |
4.25
YEARS SAVED
$18,433
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,720
LIST RENT -
$1.35
LIST RENT PER SQFT
-
$3,050
COMP ESTIMATED VALUE -
$1.52
COMP AVG. RENT PER SQFT
Comps Range
-
639 W 16th Street Houston, TX 1
- 3 beds 4 baths ∙ 2,010 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,010 Sqft ∙ Built 2019
- Rent
- Rent Per SQFT
- $2,720
- $1.35
-
1430 Dian Street Houston, TX 2
- 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2013
LEASED 03/14/20- Rent
- Rent Per SQFT
- $2,800
- $1.33
-
1418 Dian Street Houston, TX 3
- 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,920 Sqft ∙ Built 2005
LEASED 09/04/20- Rent
- Rent Per SQFT
- $3,000
- $1.56
-
639 W 17th Street Houston, TX 4
- 3 beds 4 baths ∙ 2,128 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,128 Sqft ∙ Built 2013
LEASED 07/15/20- Rent
- Rent Per SQFT
- $3,200
- $1.50
-
632 W 17th Street Houston, TX 5
- 3 beds 4 baths ∙ 2,196 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,196 Sqft ∙ Built 2007
LEASED 01/03/20- Rent
- Rent Per SQFT
- $3,700
- $1.68
PROPERTY LISTING DETAILS
1.713.530.2455
Realty Associates
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 71076207
Last Updated: 11/13/2020
