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845 Fisher St Street Houston, TX 77018

3 Beds 4 Baths 2,315 sqft Built 2019

$395,000

List Price

$2,700

$2.5K - $3K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $170.63
  • 6 Days on Market
  • MLS # : 34912096
  • Updated Date : 11/13/2020 at 13:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,315 sqft
  • Baths : 3 full , 1 half
Listing Agent

Mark Dimas Properties

Listing Agent's Description

This New home is tucked away in the center of Fisher Villages. This gated community of 16 homes provides all the modern features a busy lifestyle requires. The standard features in this home include granite counters in the kitchen and baths, lever style handlesets throughout, Ceiling fans in every room and modern chrome fixtures. Couple this with wood flooring throughout and the elegance of the home is must see. Dacasa Homes provides energy efficient construction and attention to details in the design of the plans in Fisher Villages. This plan has first floor living for easy living and Fisher Villages provides easy access to the popular Washington Corridor as well as Downtown and The Galleria and Post Oak areas. Two floor plans currently available!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k492k

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

Neighborhood: Oak Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400Rent in $9692514

* 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
Garden Oaks K-8 School Primary Regular 704 38 6
Black Middle School Middle Regular 907 50 6
Waltrip High School High Magnet 1,663 94 3

Garden Oaks K-8 School

  • Education Level: Primary
  • # of students: 704
  • # of teachers: 38
6
GreatSchools Rating

Black Middle School

  • Education Level: Middle
  • # of students: 907
  • # of teachers: 50
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$355,500$434,500$395,000

PURCHASE PRICE

$2,430$2,970$2,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,700
EXPENSES Loan Payment -$1,457
Property Tax -$833
Property Insurance -$184
HOA -$25
Property Management Fees -$99
CASH FLOW
$102

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$395,000

PROJECTED PRICE

$2,700

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$106,675

INVESTMENT

$106,675

Down Payment
$98,750
Rehab Estimate
$2,000
Closing Costs
$5,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,457

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $98,750
Loan Amount $296,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$14,703

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,700

    LIST RENT
  • $1.17

    LIST RENT PER SQFT
  • $2,697

    COMP ESTIMATED VALUE
  • $1.17

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,4003$2,7004$2,9005$2,900
$2,900
RENT COMPS ANALYSIS
  • 845 Fisher St Street Houston, TX 3
    • 3 beds 4 baths ∙ 2,315 Sqft ∙ Built 2019 3 beds 4 baths ∙ 2,315 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.17
    •  
  • 923 W 35th Street Houston, TX 1
    • 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 2019 3 beds 3 baths ∙ 2,185 Sqft ∙ Built 2019
    property image
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.10
    •  
  • 815 Garden Trace Lane Houston, TX 2
    • 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,120 Sqft ∙ Built 2005
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.13
    •  
  • 955 W 24th Street Houston, TX 4
    • 3 beds 4 baths ∙ 2,427 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,427 Sqft ∙ Built 2015
    property image
    LEASED 08/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.19
    •  
  • 2406 Beall Street Houston, TX 5
    • 3 beds 4 baths ∙ 2,343 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,343 Sqft ∙ Built 2013
    property image
    LEASED 08/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $1.24
    •  
PROPERTY LISTING DETAILS
Mark Dimas
1.281.861.6199
Mark Dimas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 34912096
Last Updated: 11/13/2020
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