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7611 Creek Glen Drive Houston, TX 77095

4 Beds 3 Baths 2,720 sqft Built 1981

$269,900

List Price

$2,210

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 25, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $99.23
  • 5 Days on Market
  • MLS # : 6422158
  • Updated Date : 03/24/2021 at 18:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,720 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Mercury Alliance, Llc

Listing Agent's Description

House has "Great" bones, Property has been a rental for 8 years-same tenant. Cosmetic repairs needed. Roof and AC less than 2 years old. Master bedroom down w/his & hers closets and door to backyard/pool area, 3 bedrooms up. Large kitchen w/island. Huge breakfast room with alcove. Pool w/waterfall & spa, koi pond and large covered patio. Gated driveway, oversized detached garage. Owner is selling "AS IS" and will complete no repairs.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,989$2,431$2,210

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,210
EXPENSES Loan Payment -$937
Property Tax -$569
Property Insurance -$211
HOA -$52
Property Management Fees -$99
CASH FLOW
$342

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.

$269,900

PROJECTED PRICE

$2,210

PROJECTED RENT

0.82%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k$18k

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$27,217

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,210

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,176

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,1504$2,2005$2,210
$2,210
RENT COMPS ANALYSIS
  • 7611 Creek Glen Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,720 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $2,210
    • $0.81
    •  
  • 16010 Rainbow Lake Road Houston, TX 1
    • 3 beds 2 baths ∙ 2,582 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,582 Sqft ∙ Built 1988
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.81
    •  
  • 7415 Bull Creek Road Houston, TX 2
    • 3 beds 3 baths ∙ 2,712 Sqft ∙ Built 1978 3 beds 3 baths ∙ 2,712 Sqft ∙ Built 1978
    LEASED 04/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 16310 Rainbow Lake Road Houston, TX 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 1987
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.83
    •  
  • 7403 Manor Bridge Court Houston, TX 4
    • 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,772 Sqft ∙ Built 1989
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.79
    •  
PROPERTY LISTING DETAILS
Becky Spoto
1.713.410.5568
The Mercury Alliance, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6422158
Last Updated: 03/24/2021
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