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PROPERTY INFO
FACTS
- Single Family
- Built In 2000
- Price/Sqft : $120.92
- 2 Days on Market
- MLS # : 31895317
- Updated Date : 01/02/2021 at 17:31
CONSTRUCTION
- Beds : 3
- Floor Size : 1,530 sqft
- Baths : 2 full , 1 half
Listing Agent
Absolute Realty Group Inc.
Listing Agent's Description
BRAND NEW ROOF ! Welcome to this warm Family Dwelling! MOVE IN READY! NEVER FLOOD! This 3 bedrooms, 2.5 baths is nested in a QUIET neighborhood. This house features great floor plan, living dining combo, kitchen breakfast combo, and the utility room located in house. Master bed with robe and ensuite.Clear back yard with a patio makes a great area for gatherings. SCHEDULE YOUR SHOWING TODAY.
SEE MORE
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Tierra Park
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,420 |
| EXPENSES | Loan Payment | -$683 |
| Property Tax | -$388 | |
| Property Insurance | -$131 | |
| HOA | -$21 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$99
|
||
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.
$185,000
PROJECTED PRICE
$1,420
PROJECTED RENT
0.77%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$54,775
LOAN DETAILS
$683
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $46,250 |
| Loan Amount | $138,750 |
5.33
YEARS SAVED
$12,156
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,420
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,423
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
8842 Iron Springs Drive Houston, TX 1
- 3 beds 3 baths ∙ 1,530 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,530 Sqft ∙ Built 2000
- Rent
- Rent Per SQFT
- $1,420
- $0.93
-
9043 Wald Road Houston, TX 2
- 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
-
11519 Tierra Ridge Court Houston, TX 3
- 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 2005
LEASED 12/28/20- Rent
- Rent Per SQFT
- $1,500
- $1.00
-
11302 Palmsprings Drive Houston, TX 4
- 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2003 3 beds 3 baths ∙ 1,673 Sqft ∙ Built 2003
LEASED 05/11/20- Rent
- Rent Per SQFT
- $1,520
- $0.91
-
11706 Dumas Street Houston, TX 5
- 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,698 Sqft ∙ Built 2006
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,550
- $0.91
PROPERTY LISTING DETAILS
1.281.975.7766
Absolute Realty Group Inc.
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 31895317
Last Updated: 01/02/2021
