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9018 Chesney Downs Drive Houston, TX 77083

4 Beds 3 Baths 2,369 sqft Built 1983

$264,900

List Price

$1,750

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $111.82
  • 8 Days on Market
  • MLS # : 33756445
  • Updated Date : 02/04/2021 at 09:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,369 sqft
  • Baths : 2 full , 1 half
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

One of a kind 2 story beautiful Home to buy. New A/C. All Granite counter tops. Kitchen with wood paneling and cabinets. Custom Tile in Kitchen and Breakfast with sliding door to backyard. Den with brick Fireplace. Concrete Chip flooring in Den and Dining with Wet Bar. Spacious Master down with view of the Flagstone Courtyard. Good size 4 bedrooms and a small game room upstairs. Large Backyard. Sprinkler system included. Near all shopping areas on Hwy 6. Won't last long.

SEE MORE

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: Providence

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $99k305k

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

Neighborhood: Providence

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700180019002000Rent in $9692063

* 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
Fleming Elementary School Primary Regular 728 49 5
Hodges Bend Middle School Middle Regular 1,169 67 5
Kempner High School High Regular 2,397 124 7

Fleming Elementary School

  • Education Level: Primary
  • # of students: 728
  • # of teachers: 49
5
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Kempner High School

  • Education Level: High
  • # of students: 2,397
  • # of teachers: 124
7
GreatSchools Rating
 

$238,410$291,390$264,900

PURCHASE PRICE

$1,575$1,925$1,750

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,750
EXPENSES Loan Payment -$920
Property Tax -$524
Property Insurance -$164
HOA -$23
Property Management Fees -$99
CASH FLOW
$20

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.

$264,900

PROJECTED PRICE

$1,750

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.1%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,949

INVESTMENT

$75,949

Down Payment
$66,225
Rehab Estimate
$5,750
Closing Costs
$3,974

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,225
Loan Amount $198,675
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,269

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,750

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,795

    COMP ESTIMATED VALUE
  • $0.76

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$1,7504$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 9018 Chesney Downs Drive Houston, TX 4
    • 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,369 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 14502 Legend Falls Court Houston, TX 1
    • 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 1998 4 beds 2 baths ∙ 2,349 Sqft ∙ Built 1998
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.72
    •  
  • 14823 Knightsway Drive Houston, TX 2
    • 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 1983
    property image
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 8930 High Haven Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 1987 4 beds 3 baths ∙ 2,234 Sqft ∙ Built 1987
    property image
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.78
    •  
  • 14743 Charlmont Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1984
    property image
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
PROPERTY LISTING DETAILS
Ashiqul Talukder
1.832.293.5832
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 33756445
Last Updated: 02/04/2021
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