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8846 Fairbloom Lane Houston, TX 77040

4 Beds 2 Baths 2,087 sqft Built 1993

$239,900

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $114.95
  • 3 Days on Market
  • MLS # : 62887862
  • Updated Date : 02/05/2021 at 18:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,087 sqft
  • Baths : 2 full
Listing Agent

316 Realty Group

Listing Agent's Description

Very nice four bedroom one story in Rolling Fork subdivision. This home offers a formal dining and living room, family room, large island kitchen with breakfast area, split floorplan and a nice size backyard. Laminate floors throughout with carpet in the bedrooms.

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Rolling Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $99k248k

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

Neighborhood: Rolling Oaks

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9691721

* 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
Reed Elementary School Primary Regular 1,106 66 5
Dean Middle School Middle Regular 1,480 99 5
Jersey Village High School High Regular 3,461 204 6

Reed Elementary School

  • Education Level: Primary
  • # of students: 1,106
  • # of teachers: 66
5
GreatSchools Rating

Dean Middle School

  • Education Level: Middle
  • # of students: 1,480
  • # of teachers: 99
5
GreatSchools Rating

Jersey Village High School

  • Education Level: High
  • # of students: 3,461
  • # of teachers: 204
6
GreatSchools Rating
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$833
Property Tax -$524
Property Insurance -$168
HOA -$38
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 17% of earned rent to cover both maintenance and periods of vacancy.

$239,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,271

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,810

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7503$1,7804$1,7955$2,000
$2,000
RENT COMPS ANALYSIS
  • 8846 Fairbloom Lane Houston, TX 3
    • 4 beds 2 baths ∙ 2,087 Sqft ∙ Built 1993 4 beds 2 baths ∙ 2,087 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.85
    •  
  • 9119 Winkbow Drive Houston, TX 1
    • 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 1997 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 1997
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.77
    •  
  • 8727 Wilson Reid Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 1976
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 8019 Clarion Way Houston, TX 4
    • 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 1998
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.86
    •  
  • 8814 Fairbloom Lane Houston, TX 5
    • 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,078 Sqft ∙ Built 1993
    LEASED 08/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
PROPERTY LISTING DETAILS
Dana Newell
1.281.923.7788
316 Realty Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62887862
Last Updated: 02/05/2021
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