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7115 Aurora Falls Lane Houston, TX 77083

3 Beds 3 Baths 1,460 sqft Built 2005

$185,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $126.71
  • 2 Days on Market
  • MLS # : 49429402
  • Updated Date : 01/02/2021 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,460 sqft
  • Baths : 2 full , 1 half
Listing Agent

Abby Realty

Listing Agent's Description

Two stories, 3 bedrooms, 2 full bath and 1 half bath. Located in the great ALIEF ISD school district. Home is located in the corner. Great location for shopping and dinning, near High Way 6 south. It is really good investment opportunity. Drive by and check out this great neighborhood, with playground kids friendly. House needs a little work, but it is in a great location.

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: Lakes of Bellaire

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Lakes of Bellaire

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Youngblood Intermediate School Primary Regular 1,094 75 6
Albright Middle School Middle Regular 1,267 87 6
Hastings High School High Regular 3,890 260 4

Youngblood Intermediate School

  • Education Level: Primary
  • # of students: 1,094
  • # of teachers: 75
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
 

$166,500$203,500$185,000

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 -$683
Property Tax -$369
Property Insurance -$126
HOA -$33
Property Management Fees -$99
CASH FLOW
$120

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.

$185,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.2%
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-$2.0k$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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$14,194

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
  • $0.98

    LIST RENT PER SQFT
  • $1,424

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4304$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 7115 Aurora Falls Lane Houston, TX 3
    • 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,460 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $0.98
    •  
  • 7402 Granite Terrace Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2016
    property image
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 7119 Biton Drive Houston, TX 2
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2005
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 14135 Maximos Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,500 Sqft ∙ Built 2006
    property image
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 13816 Magnolia Lake Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2011
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Son Nguyen
1.832.277.2327
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 49429402
Last Updated: 01/02/2021
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