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7254 Calcutta Springs Drive Houston, TX 77083

3 Beds 3 Baths 1,440 sqft Built 2005

$183,900

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $127.71
  • 2 Days on Market
  • MLS # : 86878422
  • Updated Date : 01/23/2021 at 09:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,440 sqft
  • Baths : 2 full , 1 half
Listing Agent

Nb Elite Realty

Listing Agent's Description

If you' re looking for a place to call home come see this beautiful three bedroom home. All the spacious bedrooms are upstairs with plenty closet space. It also has 2 1/2 bathroom for you and your guest. The kitchen has a refrigerator and stove in it and a lot of cabinet space. The living room is very cozy and has a lot of space in it also. The home also has a attached two garage also. Come see this home it so beautiful.

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: 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
 

$165,510$202,290$183,900

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$639
Property Tax -$417
Property Insurance -$125
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.

$183,900

PROJECTED PRICE

$1,400

PROJECTED RENT

0.76%

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$54,484

INVESTMENT

$54,484

Down Payment
$45,975
Rehab Estimate
$5,750
Closing Costs
$2,759

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$639

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,975
Loan Amount $137,925
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$11,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,404

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,4003$1,4004$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 7254 Calcutta Springs Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,440 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.97
    •  
  • 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
    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
    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
    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
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
PROPERTY LISTING DETAILS
Teresa Hill
1.346.366.3911
Nb Elite Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 86878422
Last Updated: 01/23/2021
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