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6627 Briar Terrace Drive Houston, TX 77072

3 Beds 2 Baths 1,696 sqft Built 1980

$175,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $103.18
  • 5 Days on Market
  • MLS # : 39975025
  • Updated Date : 01/09/2021 at 08:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,696 sqft
  • Baths : 2 full
Listing Agent

Top Guns Realty On Lake Conroe

Listing Agent's Description

Minutes from Sam Houston Tollway, Westpark Tollway, Harwin Park and Westchase District. Interior walls have been freshly painted. Refrigerator stays with house sale.

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: Brays Village East

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Brays Village East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8271677

* 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
Chancellor Elementary School Primary Regular 853 59 4
Alief Middle School Middle Regular 994 73 4
Hastings High School High Regular 3,890 260 4

Chancellor Elementary School

  • Education Level: Primary
  • # of students: 853
  • # of teachers: 59
4
GreatSchools Rating

Alief Middle School

  • Education Level: Middle
  • # of students: 994
  • # of teachers: 73
4
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

$157,500$192,500$175,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$608
Property Tax -$369
Property Insurance -$142
HOA -$25
Property Management Fees -$99
CASH FLOW
$187

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.

$175,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 4.4%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,125

INVESTMENT

$52,125

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

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$608

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $43,750
Loan Amount $131,250
See What Happens When You Reinvest Cash Flow

7.5

YEARS SAVED

$16,571

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,442

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4303$1,4504$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 6627 Briar Terrace Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,696 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.84
    •  
  • 11115 Ashcott Houston, TX 1
    • 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1978 3 beds 3 baths ∙ 1,678 Sqft ∙ Built 1978
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.83
    •  
  • 6439 Briar Glade Drive Houston, TX 3
    • 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,736 Sqft ∙ Built 1978
    LEASED 06/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 6406 Grandvale Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 1980
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
  • 6338 Gladewell Drive Houston, TX 5
    • 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,731 Sqft ∙ Built 1982
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.87
    •  
PROPERTY LISTING DETAILS
Dwight Downing
1.281.770.8174
Top Guns Realty On Lake Conroe
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39975025
Last Updated: 01/09/2021
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