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8238 Fuqua Gardens Drive Houston, TX 77075

3 Beds 3 Baths 1,787 sqft Built 2001

$224,900

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $125.85
  • 4 Days on Market
  • MLS # : 5467901
  • Updated Date : 02/05/2021 at 20:31
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,787 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max 5 Star Realty

Listing Agent's Description

Ready for New Owner. MUST SEEE!!!!! High ceiling living area. No carpet here. Tile flooring throughout the house and laminate flooring in bedrooms. Freshley interior paint. Kitchen cabinets have been redone with granite countertops. Some new light fixtures throughout the house. Back yard fully fenced. Clean 2 car garage.

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: Fuqua Gardens

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Fuqua Gardens

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
Jc Mitchell Elementary School Primary Regular 605 29 5
Thomas Middle School Middle Regular 476 32 3
Sterling High School High Magnet 1,060 60 2

Jc Mitchell Elementary School

  • Education Level: Primary
  • # of students: 605
  • # of teachers: 29
5
GreatSchools Rating

Thomas Middle School

  • Education Level: Middle
  • # of students: 476
  • # of teachers: 32
3
GreatSchools Rating

Sterling High School

  • Education Level: High
  • # of students: 1,060
  • # of teachers: 60
2
GreatSchools Rating
 

$202,410$247,390$224,900

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$781
Property Tax -$474
Property Insurance -$148
Property Management Fees -$99
CASH FLOW
$108

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$224,900

PROJECTED PRICE

$1,610

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,349

INVESTMENT

$65,349

Down Payment
$56,225
Rehab Estimate
$5,750
Closing Costs
$3,374

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,225
Loan Amount $168,675
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$11,687

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,649

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,555
1$1,5552$1,5753$1,6004$1,6105$1,650
$1,650
RENT COMPS ANALYSIS
  • 8238 Fuqua Gardens Drive Houston, TX 4
    • 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,787 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $0.90
    •  
  • 8803 Danbury Hollow Lane Houston, TX 1
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 2005
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,555
    • $0.97
    •  
  • 8607 Heather Bluff Court Houston, TX 2
    • 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,810 Sqft ∙ Built 2005
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.87
    •  
  • 10403 Hurst Hill Lane Houston, TX 3
    • 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,824 Sqft ∙ Built 2004
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.88
    •  
  • 8807 Kaeling Meadow Court Houston, TX 5
    • 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,693 Sqft ∙ Built 2009
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.97
    •  
PROPERTY LISTING DETAILS
Joel Arredondo
1.713.545.3135
Re/max 5 Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 5467901
Last Updated: 02/05/2021
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