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6709 Queensclub Drive Houston, TX 77069

3 Beds 2 Baths 1,773 sqft Built 1984

$175,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $98.70
  • 3 Days on Market
  • MLS # : 49197063
  • Updated Date : 02/12/2021 at 17:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,773 sqft
  • Baths : 2 full
Listing Agent

First Class Realty

Listing Agent's Description

STOP AND LOOK AT THIS GORGEOUS 3 bedroom, 2 bath, 2-story home, BRAND NEW FLOORING,FRESH PAINT! Features open kitchen, Formal Diningrom, Master bedroom downstairs, Master bath with Atrium, Garden tub and Separate Shower, Large Livingroom with fireplace, Secondary Bedrooms upstairs, Indoor utility room, Detached 2 Car Garage, Fenced Backyard! Located in the Champions Creek subdivision, Minutes to 1960, 249, Tollway, Shopping and Restaurants! **HOME WILL BE CLEANED**

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: Champions Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Champions Creek Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Yeager Elementary School Primary Regular 985 58 6
Bleyl Middle School Middle Regular 1,503 91 6
Cypress Creek High School High Regular 3,161 199 7

Yeager Elementary School

  • Education Level: Primary
  • # of students: 985
  • # of teachers: 58
6
GreatSchools Rating

Bleyl Middle School

  • Education Level: Middle
  • # of students: 1,503
  • # of teachers: 91
6
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

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

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$608
Property Tax -$392
Property Insurance -$147
HOA -$125
Property Management Fees -$99
CASH FLOW
$359

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$175,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.99%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.8%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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$14k

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 35% 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

10.67

YEARS SAVED

$28,158

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,733

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,675
1$1,6752$1,6753$1,6804$1,7305$1,795
$1,795
RENT COMPS ANALYSIS
  • 6709 Queensclub Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,773 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.98
    •  
  • 6649 Queensclub Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,785 Sqft ∙ Built 1984
    property image
    LEASED 05/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.94
    •  
  • 14232 Reissen Lane Houston, TX 2
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.98
    •  
  • 6637 Queensclub Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,710 Sqft ∙ Built 1984
    property image
    LEASED 04/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.98
    •  
  • 14304 Reissen Lane Houston, TX 5
    • 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,785 Sqft ∙ Built 1984
    property image
    LEASED 02/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $1.01
    •  
PROPERTY LISTING DETAILS
Trish Ferrier
1.281.807.4700
First Class Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 49197063
Last Updated: 02/12/2021
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