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7047 Camino Verde Drive Houston, TX 77083

3 Beds 2 Baths 1,584 sqft Built 1982

$166,900

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1982
  • Price/Sqft : $105.37
  • 2 Days on Market
  • MLS # : 44921868
  • Updated Date : 11/02/2020 at 17:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,584 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Designed for family living, this charming one story, traditional style, three-bedroom, and two full bathroom home is designed around a large, open concept living room. The kitchen and raised dining room and flow seamlessly into the living room, which has a vaulted ceiling. The kitchen has updated cabinet fronts, stone countertops, and backsplash. The primary bedroom has a spacious, en suite bathroom with two sinks and two, large closets. The back yard is fenced in and is perfect for children playing and/or pets. You will have peace of mind knowing that the roof, HVAC system, and plumbing have been recently replaced.

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: Mission Bend los Patios

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $87k222k

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

Neighborhood: Mission Bend los Patios

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8291677

* 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
Miller Intermediate School Primary Regular 872 63 6
Albright Middle School Middle Regular 1,267 87 6
Hastings High School High Regular 3,890 260 4

Miller Intermediate School

  • Education Level: Primary
  • # of students: 872
  • # of teachers: 63
6
GreatSchools Rating

Albright Middle School

  • Education Level: Middle
  • # of students: 1,267
  • # of teachers: 87
6
GreatSchools Rating

Hastings High School

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

$150,210$183,590$166,900

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$616
Property Tax -$365
Property Insurance -$134
HOA -$42
Property Management Fees -$99
CASH FLOW
$84

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.

$166,900

PROJECTED PRICE

$1,340

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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

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$49,979

INVESTMENT

$49,979

Down Payment
$41,725
Rehab Estimate
$5,750
Closing Costs
$2,504

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$616

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $41,725
Loan Amount $125,175
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$8,438

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,434

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,340
1$1,3402$1,3503$1,4004$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 7047 Camino Verde Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,584 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.85
    •  
  • 6807 Zapata Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,420 Sqft ∙ Built 1978
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.95
    •  
  • 16219 Condessa Drive Houston, TX 3
    • 4 beds 2 baths ∙ 1,499 Sqft ∙ Built 1982 4 beds 2 baths ∙ 1,499 Sqft ∙ Built 1982
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.93
    •  
  • 16106 Mission Village Drive Houston, TX 4
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 1998
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.88
    •  
  • 16022 Sierra Vista Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,692 Sqft ∙ Built 1982
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.86
    •  
PROPERTY LISTING DETAILS
William Harris
1.832.577.5825
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44921868
Last Updated: 11/02/2020
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