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6936 Foxmont Lane Humble, TX 77338

3 Beds 2 Baths 1,700 sqft Built 1982

INVESTimate

$169,900

List Price

$1,430

$1,287 - $1,573

Rent Est.

$185,565  ( +9.22%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $99.94
  • 5 Days on Market
  • MLS # : 47547170
  • Updated Date : 08/23/2020 at 15:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,700 sqft
  • Baths : 2 full
Listing Agent

Motivated Realty

Listing Agent's Description

Imagine yourself and your family making great memories in this beautiful 3-bedroom 2-bathroom home, located in the Foxwood subdivision. This charming single-story home features a formal dining, large family room with high ceilings and with great views to the front yard. The well-appointed kitchen overlooks the family room and boasts nice cabinets and adjacent breakfast area. Spacious living area with high ceilings and cozy floor-to-ceiling brick fireplace.The secondary bedrooms are spacious and offer nicely sized walk-in closets. The cozy master bedroom features ensuite bath with tub/shower combo. New roof installed in 2020. Come get your new home before it's gone!

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: Foxwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240kPrice in $74k255k

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

Neighborhood: Foxwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8801714

* 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
Magrill Elementary School Primary Regular 1,189 63 4
Teague Middle School Middle Regular 896 60 4
Nimitz Ninth Grade School High Regular 692 51 2

Magrill Elementary School

  • Education Level: Primary
  • # of students: 1,189
  • # of teachers: 63
4
GreatSchools Rating

Teague Middle School

  • Education Level: Middle
  • # of students: 896
  • # of teachers: 60
4
GreatSchools Rating

Nimitz Ninth Grade School

  • Education Level: High
  • # of students: 692
  • # of teachers: 51
2
GreatSchools Rating
 

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

PURCHASE PRICE

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

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$627
Property Tax -$428
Property Insurance -$142
HOA -$29
Property Management Fees -$99
CASH FLOW
$105

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

$1,430

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.22%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

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

5.17

YEARS SAVED

$10,674

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
  • $1,420

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2803$1,4004$1,4305$1,435
$1,435
RENT COMPS ANALYSIS
  • 6936 Foxmont Lane Humble, TX 4
    • 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,700 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.84
    •  
  • 6903 Fox Mesa Lane Humble, TX 1
    • 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,602 Sqft ∙ Built 1984
    LEASED 01/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.78
    •  
  • 7002 Foxbrook Drive Humble, TX 2
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 1983
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,280
    • $0.84
    •  
  • 6924 Foxmont Lane Humble, TX 3
    • 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,571 Sqft ∙ Built 1982
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.89
    •  
  • 7010 Foxmont Lane Humble, TX 5
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 1983
    LEASED 08/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $0.83
    •  
PROPERTY LISTING DETAILS
Nina Smith
Motivated Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47547170
Last Updated: 08/23/2020
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