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7210 W Hearthstone Green Drive Houston, TX 77095

3 Beds 3 Baths 2,447 sqft Built 1983

$280,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $114.43
  • 4 Days on Market
  • MLS # : 5131795
  • Updated Date : 03/19/2021 at 22:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,447 sqft
  • Baths : 2 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

This home is beautiful, well-maintained and comes with a backyard oasis!! Beautiful pool with plenty of area to lounge AND entertain, but not so much yard that you spend your free-time working. Large entry with spiral staircase, open to family room and formal dining. This home has 2 gas log fireplaces!! 1 in the family room and a double sided fireplace between primary bedroom and large soaker tub. Primary bath and upstairs bathrooms have both been updated. Kitchen has an island and gas cooktop for the chef. This is the perfect home. Within walking distance to cart path and country club. Zoned to coveted Cy-Fair schools.

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: Hearthstone Green

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $99k362k

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

Neighborhood: Hearthstone Green

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800190020002100Rent in $9692147

* 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
Owens Elementary School Primary Regular 971 57 6
Labay Middle School Middle Regular 1,478 90 7
Cypress Falls High School High Regular 3,667 214 NA

Owens Elementary School

  • Education Level: Primary
  • # of students: 971
  • # of teachers: 57
6
GreatSchools Rating

Labay Middle School

  • Education Level: Middle
  • # of students: 1,478
  • # of teachers: 90
7
GreatSchools Rating

Cypress Falls High School

  • Education Level: High
  • # of students: 3,667
  • # of teachers: 214
NA
GreatSchools Rating
 

$252,000$308,000$280,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$973
Property Tax -$606
Property Insurance -$193
HOA -$47
Property Management Fees -$99
CASH FLOW
$114

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.

$280,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.9%
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

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$79,950

INVESTMENT

$79,950

Down Payment
$70,000
Rehab Estimate
$5,750
Closing Costs
$4,200

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$973

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,000
Loan Amount $210,000
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$9,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,896

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,730
1$1,7302$1,7953$1,8754$2,0305$2,200
$2,200
RENT COMPS ANALYSIS
  • 7210 W Hearthstone Green Drive Houston, TX 4
    • 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,447 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.83
    •  
  • 6803 Hedgewick Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1994
    LEASED 01/30/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.74
    •  
  • 6918 Canyon Creek Square Houston, TX 2
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 1998
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.74
    •  
  • 15010 Satsuma Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,435 Sqft ∙ Built 1999
    LEASED 07/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.77
    •  
  • 14219 Owens Road Houston, TX 5
    • 4 beds 2 baths ∙ 2,586 Sqft ∙ Built 1990 4 beds 2 baths ∙ 2,586 Sqft ∙ Built 1990
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
PROPERTY LISTING DETAILS
Laura Reagor
1.713.805.4039
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 5131795
Last Updated: 03/19/2021
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