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842 Vista Grove Circle Houston, TX 77073

4 Beds 3 Baths 2,073 sqft Built 2001

$149,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
December 30, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $72.31
  • 5 Days on Market
  • MLS # : 26736623
  • Updated Date : 12/31/2020 at 10:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,073 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty -sw

Listing Agent's Description

Charming 2-story home in highly-desired Northridge Park, complete with 4 beds, 2 1/2 baths & 2-car attached garage. Beautiful wood & tile floors, custom paint & natural light throughout. Cute covered front porch & leaded glass door welcomes you inside to find a formal dining room with soaring ceilings, spacious family room with a stone-surrounded fireplace, & breakfast room, open to the Chef's island kitchen with modern stainless steel appliances; including gas cook top, built-in microwave & dishwasher. Head upstairs to all 4 bedrooms, including Master Suite with en-suite bath; his & her sinks, Whirlpool tub + separate shower & large walk-in closet. Step out back to a patio for grilling & fully-fenced backyard with storage shed. Located near endless shopping, dining & entertainment. Access to I-45 for easy commute to Downtown Houston & The Woodlands. Zoned to Spring ISD schools.

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: Northridge Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Northridge Park

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
Carolee Booker Elementary School Primary Regular 910 59 4
Rickey C. Bailey Middle School Middle Regular 1,238 72 4
Andy Dekaney High School High Regular 2,855 163 2

Carolee Booker Elementary School

  • Education Level: Primary
  • # of students: 910
  • # of teachers: 59
4
GreatSchools Rating

Rickey C. Bailey Middle School

  • Education Level: Middle
  • # of students: 1,238
  • # of teachers: 72
4
GreatSchools Rating

Andy Dekaney High School

  • Education Level: High
  • # of students: 2,855
  • # of teachers: 163
2
GreatSchools Rating
 

$134,910$164,890$149,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$553
Property Tax -$422
Property Insurance -$167
HOA -$33
Property Management Fees -$99
CASH FLOW
$315

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.

$149,900

PROJECTED PRICE

$1,590

PROJECTED RENT

1.06%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.3%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,474

INVESTMENT

$45,474

Down Payment
$37,475
Rehab Estimate
$5,750
Closing Costs
$2,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,475
Loan Amount $112,425
See What Happens When You Reinvest Cash Flow

11.42

YEARS SAVED

$30,261

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,550

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5003$1,5904$1,5955$1,600
$1,600
RENT COMPS ANALYSIS
  • 842 Vista Grove Circle Houston, TX 3
    • 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,073 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.77
    •  
  • 21014 Grovedale Drive Houston, TX 1
    • 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 2001
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.72
    •  
  • 810 Sycamore Ridge Lane Houston, TX 2
    • 3 beds 3 baths ∙ 2,080 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,080 Sqft ∙ Built 2005
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.72
    •  
  • 15810 Pin Oak Ridge Street Houston, TX 4
    • 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,020 Sqft ∙ Built 2006
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.79
    •  
  • 735 Hillock Bluff Circle Houston, TX 5
    • 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,107 Sqft ∙ Built 2003
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
PROPERTY LISTING DETAILS
Sahar Khatib
1.832.630.5020
Keller Williams Realty -sw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26736623
Last Updated: 12/31/2020
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