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8727 Roaring Point Drive Houston, TX 77088

4 Beds 3 Baths 2,270 sqft Built 1998

$180,000

List Price

$1,470

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $79.30
  • 4 Days on Market
  • MLS # : 89216304
  • Updated Date : 11/12/2020 at 12:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,270 sqft
  • Baths : 2 full , 1 half
Listing Agent

Crown Eagle Realty

Listing Agent's Description

Handyman special. Four bedroom, two and a half bath home with an extra room which can be used for a bedroom, office, or other uses. All bedrooms are upstairs.

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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: Inwood Forest Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Inwood Forest Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8361677

* 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
Caraway Intermediate School Primary Regular 769 48 3
Caraway Intermediate School Middle Regular 769 48 3
Eisenhower Ninth Grade School High Magnet 671 45 2

Caraway Intermediate School

  • Education Level: Primary
  • # of students: 769
  • # of teachers: 48
3
GreatSchools Rating

Caraway Intermediate School

  • Education Level: Middle
  • # of students: 769
  • # of teachers: 48
3
GreatSchools Rating

Eisenhower Ninth Grade School

  • Education Level: High
  • # of students: 671
  • # of teachers: 45
2
GreatSchools Rating
 

$162,000$198,000$180,000

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$664
Property Tax -$380
Property Insurance -$181
HOA -$29
Property Management Fees -$99
CASH FLOW
$118

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.

$180,000

PROJECTED PRICE

$1,470

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,000
Loan Amount $135,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$12,578

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.65

    LIST RENT PER SQFT
  • $1,617

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5003$1,5254$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 8727 Roaring Point Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 1998 4 beds 3 baths ∙ 2,270 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.65
    •  
  • 8526 Wild Basin Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,136 Sqft ∙ Built 1996
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.70
    •  
  • 8103 Edgebrook Forest Court Houston, TX 3
    • 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,182 Sqft ∙ Built 1979
    LEASED 04/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.70
    •  
  • 8010 Streamside Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,225 Sqft ∙ Built 2001
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.70
    •  
  • 8810 Wild Basin Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,090 Sqft ∙ Built 1997
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.75
    •  
PROPERTY LISTING DETAILS
Aleksander Koronowski
1.832.593.1218
Crown Eagle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 89216304
Last Updated: 11/12/2020
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