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8610 Crystal Cove Circle Houston, TX 77044

3 Beds 2 Baths 1,176 sqft Built 1981

$165,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $140.31
  • 4 Days on Market
  • MLS # : 82912275
  • Updated Date : 02/11/2021 at 13:10
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,176 sqft
  • Baths : 2 full
Listing Agent

Century 21 Olympian Central

Listing Agent's Description

A VERY NICE LITTLE STARTER HOME STILL NEEDING A LITTLE TLC. 3 BEDROOM 2 BATH. IN A WELL ESTABLISHED AREA. THIS HOME HAS A LOT OF POTENTIAL COME IN AND LET YOUR CREATIVE SIDE SHINE THROUGH, YOU WILL BE GLAD YOU DID. THIS PROPERTY WOULD ALSO MAKE AN EXCELLANT INVESTMENT PROPERTY. DON'T LET THIS ONE PASS YOU BYE. THIS IS A HANDYMANS DREAM.

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: Parkway Forest

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $59k222k

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

Neighborhood: Parkway Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7781677

* 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
Monahan Elementary School Primary Regular 500 33 4
C.e. King Middle School Middle Regular 924 60 3
C.e. King High School High Regular 1,907 143 2

Monahan Elementary School

  • Education Level: Primary
  • # of students: 500
  • # of teachers: 33
4
GreatSchools Rating

C.e. King Middle School

  • Education Level: Middle
  • # of students: 924
  • # of teachers: 60
3
GreatSchools Rating

C.e. King High School

  • Education Level: High
  • # of students: 1,907
  • # of teachers: 143
2
GreatSchools Rating
 

$148,500$181,500$165,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$573
Property Tax -$425
Property Insurance -$107
HOA -$25
Property Management Fees -$99
CASH FLOW
$121

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.

$165,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 3.5%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$49,475

INVESTMENT

$49,475

Down Payment
$41,250
Rehab Estimate
$5,750
Closing Costs
$2,475

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$573

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,250
Loan Amount $123,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$10,206

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.15

    LIST RENT PER SQFT
  • $1,352

    COMP ESTIMATED VALUE
  • $1.15

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2993$1,3504$1,4355$1,445
$1,445
RENT COMPS ANALYSIS
  • 8610 Crystal Cove Circle Houston, TX 3
    • 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,176 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.15
    •  
  • 8655 Deep Valley Drive Houston, TX 1
    • 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,064 Sqft ∙ Built 1980
    property image
    LEASED 09/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.17
    •  
  • 13138 Crystal Cove Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1982
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.10
    •  
  • 12819 Bamboo Forest Trail Houston, TX 4
    • 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,303 Sqft ∙ Built 1980
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,435
    • $1.10
    •  
  • 8634 Flower Path Street Houston, TX 5
    • 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,178 Sqft ∙ Built 1981
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,445
    • $1.23
    •  
PROPERTY LISTING DETAILS
Dennis Shelton
1.832.553.8300
Century 21 Olympian Central
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82912275
Last Updated: 02/11/2021
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