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8211 Alabaster Drive Houston, TX 77083

4 Beds 3 Baths 2,093 sqft Built 1990

$218,000

List Price

$1,640

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

December 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $104.16
  • 7 Days on Market
  • MLS # : 26670723
  • Updated Date : 01/02/2021 at 19:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,093 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

This well-kept four bedroom, two and a half bath corner-lot house is everything you've dreamed of for your family! Enter the foyer straight into the sunny and connected living room, kitchen, and dining room. From the back door, a patio leads to a large and secluded backyard. Upstairs, the master suite includes a large walk-in closet, standing shower, bath, and double sinks. The entire house is tile and laminate flooring! Natural light from the large windows lights up the living spaces and bedrooms. The long driveway and two car garage are perfect for having family and friends over. Welcome home!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Chelsea at Mission Bend

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Chelsea at Mission Bend

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9541677

* 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
Mission Glen Elementary School Primary Regular 493 39 4
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Mission Glen Elementary School

  • Education Level: Primary
  • # of students: 493
  • # of teachers: 39
4
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Bush High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 112
6
GreatSchools Rating
 

$196,200$239,800$218,000

PURCHASE PRICE

$1,476$1,804$1,640

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,640
EXPENSES Loan Payment -$804
Property Tax -$475
Property Insurance -$148
HOA -$23
Property Management Fees -$99
CASH FLOW
$91

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.

$218,000

PROJECTED PRICE

$1,640

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.1%
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$700k

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$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,520

INVESTMENT

$63,520

Down Payment
$54,500
Rehab Estimate
$5,750
Closing Costs
$3,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$804

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,500
Loan Amount $163,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,488

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,640

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,5754$1,6405$1,750
$1,750
RENT COMPS ANALYSIS
  • 8211 Alabaster Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,093 Sqft ∙ Built 1990
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.78
    •  
  • 8410 Taraglen Court Richmond, TX 1
    • 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,967 Sqft ∙ Built 2005
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.79
    •  
  • 8215 Alabaster Drive Houston, TX 2
    • 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,929 Sqft ∙ Built 1990
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.80
    •  
  • 8506 Chancellorsville Lane Houston, TX 3
    • 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2001 3 beds 2 baths ∙ 2,001 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.79
    •  
  • 8423 Manassas Lane Houston, TX 5
    • 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 2001
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.81
    •  
PROPERTY LISTING DETAILS
Vincent Tran
1.281.221.7676
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26670723
Last Updated: 01/02/2021
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