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7015 Maid Stone Drive Pasadena, TX 77505

4 Beds 3 Baths 2,473 sqft Built 1998

$285,000

List Price

$2,200

$2K - $2.4K

Rent Est.

PROPERTY INFO

November 17, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $115.24
  • 6 Days on Market
  • MLS # : 83401681
  • Updated Date : 11/19/2020 at 20:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,473 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

This Kimball Hill recently updated two story with all bedrooms up is just what you are looking for, great school district (Deer Park), community neighborhood home on a cul de sac street! Updates include: AC unit (Carrier), all new wood engineered floors up, recent carpet in living area and stairs, freshly painted walls, interior/exterior, all new kitchen SS appliances, roof replaced in 2011. Open concept with soaring ceilings perfect for entertaining! This home is immaculate and features an extended covered concrete patio for dining al fresco and entertaining friends and family! Landscaping is gorgeous!

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: Baywood Oaks Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280k300kPrice in $76k305k

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

Neighborhood: Baywood Oaks Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200Rent in $8732354

* 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
Fairmont Elementary School Primary Regular 809 48 9
Fairmont Junior High School Middle Regular 759 45 8
Deer Park High School South Campus High Regular 4,103 258 6

Fairmont Elementary School

  • Education Level: Primary
  • # of students: 809
  • # of teachers: 48
9
GreatSchools Rating

Fairmont Junior High School

  • Education Level: Middle
  • # of students: 759
  • # of teachers: 45
8
GreatSchools Rating

Deer Park High School South Campus

  • Education Level: High
  • # of students: 4,103
  • # of teachers: 258
6
GreatSchools Rating
 

$256,500$313,500$285,000

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,052
Property Tax -$691
Property Insurance -$194
HOA -$17
Property Management Fees -$99
CASH FLOW
$148

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.

$285,000

PROJECTED PRICE

$2,200

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.7%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$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$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,750
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,232

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,0004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 7015 Maid Stone Drive Pasadena, TX 4
    • 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,473 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.89
    •  
  • 6022 Spanish Oak Drive Pasadena, TX 1
    • 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,332 Sqft ∙ Built 2002
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.81
    •  
  • 4207 Royal Manor Drive Pasadena, TX 2
    • 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,178 Sqft ∙ Built 1990
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 4602 Oakmont Circle Pasadena, TX 3
    • 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,152 Sqft ∙ Built 1981
    LEASED 03/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.93
    •  
  • 6519 Stone Briar Drive Pasadena, TX 5
    • 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,367 Sqft ∙ Built 1994
    LEASED 10/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Charlotte Broesche
1.713.299.7573
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83401681
Last Updated: 11/19/2020
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