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7611 Round Grove Lane Houston, TX 77095

4 Beds 3 Baths 2,336 sqft Built 1987

$222,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1987
  • Price/Sqft : $95.03
  • 3 Days on Market
  • MLS # : 39498296
  • Updated Date : 03/20/2021 at 13:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,336 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bayou Vista Realty, Llc

Listing Agent's Description

Welcome to this gorgeous 4 bed/2.1 bath home, located in the Cul-De-Sac of the Copperfield Southpark Village! The home has updated bathrooms, flooring and fireplace. No carpet in the house. Double sinks in both primary and secondary bathrooms. Custom built fireplace! All bedrooms and full bathrooms are upstairs! Spacious fenced backyard with a shed. Located in Cy-Fair School District! Access to major highways like 290, Highway 6 and FM 529. NEVER FLOODED!! Schedule your showing today!

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: Copperfield Southcreek Village

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300k320kPrice in $99k329k

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

Neighborhood: Copperfield Southcreek 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
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
 

$199,800$244,200$222,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$771
Property Tax -$500
Property Insurance -$185
HOA -$52
Property Management Fees -$99
CASH FLOW
$193

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.

$222,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.81%

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$700k

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,580

INVESTMENT

$64,580

Down Payment
$55,500
Rehab Estimate
$5,750
Closing Costs
$3,330

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$771

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,500
Loan Amount $166,500
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,629

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,793

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8003$1,8104$1,8305$1,900
$1,900
RENT COMPS ANALYSIS
  • 7611 Round Grove Lane Houston, TX 2
    • 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,336 Sqft ∙ Built 1987
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.77
    •  
  • 7602 Sandygate Lane Houston, TX 1
    • 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,215 Sqft ∙ Built 1987
    property image
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
  • 16302 Hickory Point Road Houston, TX 3
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1986 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1986
    property image
    LEASED 01/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.73
    •  
  • 16923 Poplar Hill Street Houston, TX 4
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1990
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.77
    •  
  • 7630 Evergreen Brook Way Houston, TX 5
    • 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,484 Sqft ∙ Built 1987
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.76
    •  
PROPERTY LISTING DETAILS
Sonali Mansukhani
1.832.403.0558
Bayou Vista Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39498296
Last Updated: 03/20/2021
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