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8814 Tierra Park Houston, TX 77034

3 Beds 3 Baths 1,784 sqft Built 2001

$195,000

List Price

$1,490

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $109.30
  • 3 Days on Market
  • MLS # : 44534955
  • Updated Date : 01/09/2021 at 20:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,784 sqft
  • Baths : 2 full , 1 half
Listing Agent

Home Alliance Group

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: Tierra Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Tierra Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8731677

* 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
Genoa Elementary School Primary Regular 776 50 3
Elmer G Bondy Intermediate School Middle Regular 998 59 8
Pasadena Memorial High School High Regular 3,121 177 5

Genoa Elementary School

  • Education Level: Primary
  • # of students: 776
  • # of teachers: 50
3
GreatSchools Rating

Elmer G Bondy Intermediate School

  • Education Level: Middle
  • # of students: 998
  • # of teachers: 59
8
GreatSchools Rating

Pasadena Memorial High School

  • Education Level: High
  • # of students: 3,121
  • # of teachers: 177
5
GreatSchools Rating
 

$175,500$214,500$195,000

PURCHASE PRICE

$1,341$1,639$1,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,490
EXPENSES Loan Payment -$677
Property Tax -$411
Property Insurance -$148
HOA -$17
Property Management Fees -$99
CASH FLOW
$138

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.

$195,000

PROJECTED PRICE

$1,490

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.6%
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

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,425

INVESTMENT

$57,425

Down Payment
$48,750
Rehab Estimate
$5,750
Closing Costs
$2,925

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$677

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $48,750
Loan Amount $146,250
See What Happens When You Reinvest Cash Flow

5.83

YEARS SAVED

$12,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,490

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,525

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4903$1,5004$1,5505$1,650
$1,650
RENT COMPS ANALYSIS
  • 8814 Tierra Park Houston, TX 2
    • 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2001 3 beds 3 baths ∙ 1,784 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,490
    • $0.84
    •  
  • 9043 Wald Road Houston, TX 1
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2002
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 10910 N Hartsook Street Houston, TX 3
    • 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,845 Sqft ∙ Built 2001
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.81
    •  
  • 8818 Iron Springs Drive Houston, TX 4
    • 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2000 4 beds 3 baths ∙ 1,910 Sqft ∙ Built 2000
    LEASED 01/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.81
    •  
  • 11702 Kewalo Basin Lane Houston, TX 5
    • 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2001 4 beds 3 baths ∙ 1,832 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
PROPERTY LISTING DETAILS
Andrew Jones
1.713.826.7049
Home Alliance Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44534955
Last Updated: 01/09/2021
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