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6426 Wilshire Fern Houston, TX 77040

4 Beds 3 Baths 2,013 sqft Built 2012

$242,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $120.22
  • 54 Days on Market
  • MLS # : 75519191
  • Updated Date : 11/17/2020 at 12:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,013 sqft
  • Baths : 3 full
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

AMAZING LOCATION! This 2 story home is waiting for you in the GATED Wilshire Court! CONVENIENTLY LOCATED 1 MILE FROM 290 WITH EASY ACCESS INTO DOWNTOWN. THIS HOME FEATURES ALL THE SPACE YOU NEED. FORMAL DINING IS PERFECT FOR ENTRTAINING. THE KITCHEN AND FAMILY ROOM HAVE THAT WIDE OPEN FEEL YOU HAVE BEEN LOOKING FOR. 3 BEDROOMS, 2 BATHROOMS AND LAUNDRY ROOM ARE UPSTAIRS. THE 4TH BEDROOM OR STUDY AND A FULL BATHROOM ARE ON THE 1ST FLOOR. House was freshly painted, Oct 2020. MARVELOUS HOME!!!! 2 windows have been ordered and the broken windows will be replaced when they arrive. Make your appointment today!

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: Wilshire Court

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k259k

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

Neighborhood: Wilshire Court

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9101835

* 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
Holbrook Elementary School Primary Regular 1,106 67 8
Dean Middle School Middle Regular 1,480 99 5
Jersey Village High School High Regular 3,461 204 6

Holbrook Elementary School

  • Education Level: Primary
  • # of students: 1,106
  • # of teachers: 67
8
GreatSchools Rating

Dean Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 99
5
GreatSchools Rating

Jersey Village High School

  • Education Level: High
  • # of students: 3,461
  • # of teachers: 204
6
GreatSchools Rating
 

$217,800$266,200$242,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$893
Property Tax -$510
Property Insurance -$163
HOA -$70
Property Management Fees -$99
CASH FLOW
$55

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.

$242,000

PROJECTED PRICE

$1,790

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 6.7%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$69,880

INVESTMENT

$69,880

Down Payment
$60,500
Rehab Estimate
$5,750
Closing Costs
$3,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$893

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,500
Loan Amount $181,500
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,776

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7903$1,8004$1,8405$1,850
$1,850
RENT COMPS ANALYSIS
  • 6426 Wilshire Fern Houston, TX 2
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.89
    •  
  • 6318 Wilshire Fern Houston, TX 1
    • 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 2010 4 beds 3 baths ∙ 1,989 Sqft ∙ Built 2010
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 6506 Wilshire Lakes Houston, TX 3
    • 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,013 Sqft ∙ Built 2013
    property image
    LEASED 04/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.89
    •  
  • 6435 Wilshire Lks Houston, TX 4
    • 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 2013 4 beds 3 baths ∙ 1,968 Sqft ∙ Built 2013
    property image
    LEASED 06/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.93
    •  
  • 6322 Wilshire Lakes Houston, TX 5
    • 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2009 4 beds 3 baths ∙ 2,142 Sqft ∙ Built 2009
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
PROPERTY LISTING DETAILS
Brenda Hallock
1.713.907.9396
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 75519191
Last Updated: 11/17/2020
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