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7202 Palisades Heights Drive Houston, TX 77095

4 Beds 3 Baths 2,914 sqft Built 1989

$299,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1989
  • Price/Sqft : $102.61
  • 3 Days on Market
  • MLS # : 56746678
  • Updated Date : 12/12/2020 at 14:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,914 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Stunning 4 bedroom, 2.5 bath house ideally located in the great community of Copperfield. This home has soaring high ceilings, an open formal dining room, and a spacious study/library that greets you as you enter. The open-concept floor plan throughout is perfect for entertaining! Island kitchen with beautiful granite countertops and stainless-steel appliances with plenty of cabinet counter space. Windows overlooking the backyard bring in tons of natural light all homeowner's desire. Don't miss the luxurious primary retreat with jetted tub, dual vanities, and his and hers walk in closets. Complete with beautiful curb appeal and a spectacular backyard oasis with a pool, covered back patio, spa/hot tub, and not to mention the outdoor kitchen. Come and See!!

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: Copperfield Southdown Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340kPrice in $99k355k

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

Neighborhood: Copperfield Southdown Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692090

* 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
Lowery Elementary School Primary Regular 890 47 7
Aragon Middle School Middle Regular 1,548 84 9
Langham Creek High School High Regular 3,211 194 7

Lowery Elementary School

  • Education Level: Primary
  • # of students: 890
  • # of teachers: 47
7
GreatSchools Rating

Aragon Middle School

  • Education Level: Middle
  • # of students: 1,548
  • # of teachers: 84
9
GreatSchools Rating

Langham Creek High School

  • Education Level: High
  • # of students: 3,211
  • # of teachers: 194
7
GreatSchools Rating
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,103
Property Tax -$631
Property Insurance -$224
HOA -$48
Property Management Fees -$99
CASH FLOW
$115

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.

$299,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.6%
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$800k

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,088

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,011

    COMP ESTIMATED VALUE
  • $0.69

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$1,9504$2,0005$2,220
$2,220
RENT COMPS ANALYSIS
  • 7202 Palisades Heights Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,914 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,914 Sqft ∙ Built 1989
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.76
    •  
  • 7510 Creek Glen Drive Houston, TX 1
    • 5 beds 3 baths ∙ 2,948 Sqft ∙ Built 1980 5 beds 3 baths ∙ 2,948 Sqft ∙ Built 1980
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.64
    •  
  • 15622 Valley Creek Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,741 Sqft ∙ Built 1997
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 15810 Mesa Gardens Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,763 Sqft ∙ Built 1981
    property image
    LEASED 08/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.71
    •  
  • 7107 Benwich Circle Houston, TX 4
    • 3 beds 3 baths ∙ 2,854 Sqft ∙ Built 1977 3 beds 3 baths ∙ 2,854 Sqft ∙ Built 1977
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
PROPERTY LISTING DETAILS
Ana Tallackson
1.832.239.7934
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 #: 56746678
Last Updated: 12/12/2020
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