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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Chelsea at Mission Bend
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$63,520
LOAN DETAILS
$804
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $54,500 |
| Loan Amount | $163,500 |
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
-
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
1.281.221.7676
Realm Real Estate Professional
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 26670723
Last Updated: 01/02/2021
