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6626 Hampden Point Court Houston, TX 77040

3 Beds 2 Baths 1,247 sqft Built 2007

$174,500

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $139.94
  • 2 Days on Market
  • MLS # : 5988625
  • Updated Date : 11/21/2020 at 13:38
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,247 sqft
  • Baths : 2 full
Listing Agent

Abby Realty

Listing Agent's Description

Welcome to your new home! You are greeted with nice landscaping and covered front porch to enjoy a nice breeze. Home features an open floor plan which is perfect for entertaining. Kitchen has all stainless steel appliances and a huge breakfast bar. Tile flooring throughout the home. Primary bedroom is suited for royalty with the space, walk-in closet and en-suite bathroom. The primary shower is upgraded with two shower heads and a sitting area. Both secondary bedrooms are a good size. The garage has been converted into a fourth bedroom. Another bonus is no back neighbors! Backyard has a covered patio and a shed. Conveniently located near major highways, restaurants and entertainment. Schedule 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: Greater Inwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Greater Inwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8231677

* 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
Ermel Elementary School Primary Regular 748 42 4
Caraway Intermediate School Middle Regular 769 48 3
Eisenhower Ninth Grade School High Magnet 671 45 2

Ermel Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 42
4
GreatSchools Rating

Caraway Intermediate School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 48
3
GreatSchools Rating

Eisenhower Ninth Grade School

  • Education Level: High
  • # of students: 671
  • # of teachers: 45
2
GreatSchools Rating
 

$157,050$191,950$174,500

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$644
Property Tax -$368
Property Insurance -$112
HOA -$32
Property Management Fees -$99
CASH FLOW
$106

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.

$174,500

PROJECTED PRICE

$1,360

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$51,993

INVESTMENT

$51,993

Down Payment
$43,625
Rehab Estimate
$5,750
Closing Costs
$2,618

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$644

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $43,625
Loan Amount $130,875
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$12,481

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,185

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,3603$1,4504$1,4755$1,500
$1,500
RENT COMPS ANALYSIS
  • 6626 Hampden Point Court Houston, TX 2
    • 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,247 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.09
    •  
  • 10237 Azalea Village Houston, TX 1
    • 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 2007
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.98
    •  
  • 6818 Hampden Point Court Houston, TX 3
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2011
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 7267 Caracara Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,583 Sqft ∙ Built 2006
    LEASED 09/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.93
    •  
  • 9526 Summer Laurel Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,541 Sqft ∙ Built 2003
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
PROPERTY LISTING DETAILS
Valorie Berry
1.832.286.7457
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 5988625
Last Updated: 11/21/2020
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