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6507 Bosley Lane Houston, TX 77084

3 Beds 2 Baths 1,543 sqft Built 1997

$165,000

List Price

$1,420

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $106.93
  • 7 Days on Market
  • MLS # : 91769873
  • Updated Date : 01/06/2021 at 10:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,543 sqft
  • Baths : 2 full
Listing Agent

My Castle Realty

Listing Agent's Description

This home is in a Highly desirable Subdivision LANGHAM CREEK COLONY. Zone to Cypress Fairbank ISD schools, Home is Situated near restaurant, park, and entertainment. Home is ready to be rented out. Please email offers and contact me for lock box code.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Langham Creek Colony

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Langham Creek Colony

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8581677

* 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
Horne Elementary School Primary Regular 1,091 65 4
Truitt Middle School Middle Regular 1,412 94 5
Cypress Falls High School High Regular 3,667 214 NA

Horne Elementary School

  • Education Level: Primary
  • # of students: 1,091
  • # of teachers: 65
4
GreatSchools Rating

Truitt Middle School

  • Education Level: Middle
  • # of students: 1,412
  • # of teachers: 94
5
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students: 3,667
  • # of teachers: 214
NA
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,278$1,562$1,420

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,420
EXPENSES Loan Payment -$573
Property Tax -$394
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$222

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.

$165,000

PROJECTED PRICE

$1,420

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.0%
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$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$19,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,420

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,412

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3503$1,4204$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 6507 Bosley Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,543 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,420
    • $0.92
    •  
  • 6434 Bosley Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,464 Sqft ∙ Built 1997
    property image
    LEASED 04/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 15407 Kingfield Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,460 Sqft ∙ Built 2000
    property image
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.92
    •  
  • 15411 W Little York Road Houston, TX 4
    • 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,582 Sqft ∙ Built 1999
    property image
    LEASED 09/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 6422 Alisa Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,667 Sqft ∙ Built 1995
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Michael Greiner
1.713.683.0054
My Castle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91769873
Last Updated: 01/06/2021
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