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6623 Arabella Street Houston, TX 77091

3 Beds 3 Baths 1,700 sqft Built 2006

$169,900

List Price

$1,250

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $99.94
  • 71 Days on Market
  • MLS # : 84195103
  • Updated Date : 12/11/2020 at 18:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full , 1 half
Listing Agent

Umbrella Realty

Listing Agent's Description

Charming, cute, and cozy 3 bedroom home with 2.5 bathrooms for an affordable price. Priced to sell & will not last long. Buyer to confirm room dimensions and square footage independently. Room sizes and square footage are not guaranteed. Use Momentum Title at 25700 I-45 North, Suite 100 Spring, TX 77386 phone: 281-825-4111 Escrow officer is Lisa Villalobos (lisav@momentumtitletx.com)

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: Acres Home

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k222k

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

Neighborhood: Acres Home

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6911677

* 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
Highland Heights Elementary School Primary Charter 567 32 1
Williams Middle School Middle Magnet 533 33 2
Washington High School High Magnet 707 48 2

Highland Heights Elementary School

  • Education Level: Primary
  • # of students: 567
  • # of teachers: 32
1
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
 

$152,910$186,890$169,900

PURCHASE PRICE

$1,125$1,375$1,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,250
EXPENSES Loan Payment -$627
Property Tax -$358
Property Insurance -$125
Property Management Fees -$99
CASH FLOW
$41

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.

$169,900

PROJECTED PRICE

$1,250

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.7%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,774

INVESTMENT

$50,774

Down Payment
$42,475
Rehab Estimate
$5,750
Closing Costs
$2,549

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$627

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,475
Loan Amount $127,425
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$7,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,250

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,368

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2503$1,2504$1,2755$1,400
$1,400
RENT COMPS ANALYSIS
  • 6623 Arabella Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,448 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.86
    •  
  • 7519 Dyer Street Houston, TX 1
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 2017
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.94
    •  
  • 6526 Cohn Street Houston, TX 2
    • 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2012
    property image
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 6533 Apollo Street Houston, TX 4
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2008
    property image
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.90
    •  
  • 6528 Utah Street Houston, TX 5
    • 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2013
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
PROPERTY LISTING DETAILS
Sherrie Jackson
1.281.541.5318
Umbrella Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84195103
Last Updated: 12/11/2020
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