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7519 Granite Ridge Lane Houston, TX 77095

4 Beds 3 Baths 1,960 sqft Built 1991

$235,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $119.90
  • 2 Days on Market
  • MLS # : 88291829
  • Updated Date : 01/16/2021 at 13:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,960 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Properties

Listing Agent's Description

Gorgeous 4 bedroom 2.5 bath home in Westcreek Village in Copperfield. Great neighborhood & School district, Spacious backyard to enjoy, Granite countertops in kitchen, newer appliances, Nice size bedrooms. NEVER FLOODED! Recent updates: Roof (2016), New AC/Furnace (2019) Make your appointment today you won't want to pass this beautiful home up

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 Westcreek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $99k335k

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

Neighborhood: Copperfield Westcreek Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Holmsley Elementary School Primary Regular 884 52 5
Aragon Middle School Middle Regular 1,548 84 9
Langham Creek High School High Regular 3,211 194 7

Holmsley Elementary School

  • Education Level: Primary
  • # of students: 884
  • # of teachers: 52
5
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
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$816
Property Tax -$513
Property Insurance -$160
HOA -$62
Property Management Fees -$99
CASH FLOW
$30

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.

$235,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,266

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,651

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,590
1$1,5902$1,5953$1,6804$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 7519 Granite Ridge Lane Houston, TX 3
    • 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1991 4 beds 3 baths ∙ 1,960 Sqft ∙ Built 1991
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.86
    •  
  • 17510 Masonridge Drive Houston, TX 1
    • 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 1986 4 beds 2 baths ∙ 1,952 Sqft ∙ Built 1986
    property image
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.81
    •  
  • 7735 Gable Point Drive Houston, TX 2
    • 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,981 Sqft ∙ Built 1989
    property image
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 7555 Basswood Forest Court Houston, TX 4
    • 3 beds 3 baths ∙ 2,007 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,007 Sqft ∙ Built 1991
    property image
    LEASED 07/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.85
    •  
  • 17326 Masonridge Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1988 3 beds 2 baths ∙ 1,942 Sqft ∙ Built 1988
    property image
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.90
    •  
PROPERTY LISTING DETAILS
Kimberlee Batres
1.832.713.9440
Texas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88291829
Last Updated: 01/16/2021
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