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7902 Fortrose Court Houston, TX 77070

3 Beds 2 Baths 1,820 sqft Built 2002

$215,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $118.13
  • 2 Days on Market
  • MLS # : 83868649
  • Updated Date : 01/23/2021 at 18:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Champions Real Estate Group

Listing Agent's Description

Easy Access to HWY 249 and Beltway-8 , This Property was High and Dry. DID NOT FLOOD IN HARVEY OR EVER. All brick home and a beautiful wrought iron privacy front entry gate, featuring an open layout with a large living room with fireplace, open kitchen, and three bedrooms. Primary Bathroom Features Whirlpool Tub Separate Shower and Dual Vanities. This home is located in a Cul-de-sac, quiet neighborhood. Location is great - Close to Vintage Park and Willowbrook Mall. Home has a whole house water softener and new roof September 2020 Buyer to purchase new Survey.

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: Prestonwood Park

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $99k232k

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

Neighborhood: Prestonwood Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q295010001050110011501200125013001350140014501500155016001650Rent in $9451677

* 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
Hancock Elementary School Primary Regular 959 61 6
Bleyl Middle School Middle Regular 1,503 91 6
Cypress Creek High School High Regular 3,161 199 7

Hancock Elementary School

  • Education Level: Primary
  • # of students: 959
  • # of teachers: 61
6
GreatSchools Rating

Bleyl Middle School

  • Education Level: Middle
  • # of students: 1,503
  • # of teachers: 91
6
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$747
Property Tax -$460
Property Insurance -$150
HOA -$33
Property Management Fees -$99
CASH FLOW
$51

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.

$215,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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-$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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$5,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5403$1,6504$1,6505$1,675
$1,675
RENT COMPS ANALYSIS
  • 7902 Fortrose Court Houston, TX 2
    • 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,820 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.85
    •  
  • 13831 Hillingdale Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,648 Sqft ∙ Built 2006
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.93
    •  
  • 8011 Villa De Norte Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2018 3 beds 3 baths ∙ 1,774 Sqft ∙ Built 2018
    property image
    LEASED 10/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 14102 Lindencroft Ct Court Houston, TX 4
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 2004
    property image
    LEASED 12/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.92
    •  
  • 14232 Reissen Lane Houston, TX 5
    • 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,710 Sqft ∙ Built 1984
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.98
    •  
PROPERTY LISTING DETAILS
William Palm
1.281.773.3514
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83868649
Last Updated: 01/23/2021
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