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

646 Westcross Street Houston, TX 77018

3 Beds 3 Baths 1,666 sqft Built 2013

$289,900

List Price

$2,090

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $174.01
  • 4 Days on Market
  • MLS # : 6526795
  • Updated Date : 02/26/2021 at 12:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,666 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

NO WATER DAMAGE FROM WINTER STORM or HARVEY. Lovely home in a small gated community with a private parking lot for guests. Your new home features 3 spacious bedrooms, 2.5 bathrooms, a 2-car garage, and an open-concept floor plan with Art Deco details. The first-floor living area is perfect for entertaining with high ceilings, hardwood floors, French doors, a half bath, and an adjoining kitchen and dining space that includes stainless steel appliances. An impressive wooden staircase leads to the Owner’s Suite, which boasts new floors, a vaulted ceiling, a large en-suite private bath with dual sinks and jetted garden tub, and a massive, DREAM walk-in closet with built-in storage. Two more large bedrooms, a second bathroom, and a laundry nook with a new washer/dryer complete the upstairs. Beautiful front and back gardens are custom landscaped with established perennials. GREAT LOCATION: 5 minutes to the Heights and close to major highways and local hotspots.

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

Neighborhood: Independence Heights

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $56k222k

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

Neighborhood: Independence Heights

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7501677

* 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
John F Kennedy Elementary School Primary Regular 800 39 5
Williams Middle School Middle Magnet 533 33 2
Washington High School High Magnet 707 48 2

John F Kennedy Elementary School

  • Education Level: Primary
  • # of students: 800
  • # of teachers: 39
5
GreatSchools Rating

Williams Middle School

  • Education Level: Middle
  • # of students: 533
  • # of teachers: 33
2
GreatSchools Rating

Washington High School

  • Education Level: High
  • # of students: 707
  • # of teachers: 48
2
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,881$2,299$2,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,090
EXPENSES Loan Payment -$1,007
Property Tax -$611
Property Insurance -$140
HOA -$131
Property Management Fees -$99
CASH FLOW
$102

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.

$289,900

PROJECTED PRICE

$2,090

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) -0.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$11,389

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,090

    LIST RENT
  • $1.25

    LIST RENT PER SQFT
  • $2,266

    COMP ESTIMATED VALUE
  • $1.36

    COMP AVG. RENT PER SQFT
Comps Range
$2,090
1$2,0902$2,1003$2,2004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 646 Westcross Street Houston, TX 1
    • 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2013 3 beds 3 baths ∙ 1,666 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,090
    • $1.25
    •  
  • 3959 Tulane Street Houston, TX 2
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2018
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.33
    •  
  • 4023 Tulane Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.39
    •  
  • 4027 Tulane Street Houston, TX 4
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2017
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $1.39
    •  
  • 424 E 41st Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,728 Sqft ∙ Built 2020
    LEASED 01/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.33
    •  
PROPERTY LISTING DETAILS
Christy Schwarz
1.713.213.8744
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 #: 6526795
Last Updated: 02/26/2021
BESbswy