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9027 Ferndale View Drive Houston, TX 77064

4 Beds 3 Baths 2,780 sqft Built 2005

$235,000

List Price

$1,760

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $84.53
  • 26 Days on Market
  • MLS # : 40988677
  • Updated Date : 12/17/2020 at 11:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,780 sqft
  • Baths : 2 full , 1 half
Listing Agent

Gulf-tex Management, Inc

Listing Agent's Description

Located in a gated community for your safety - two story home with spacious family room with corner fireplace - kitchen opens to Breakfast area and Den - Formal L/R and D/R - All bedrooms up - Master with garden tub and shower - upstairs gameroom could be a 5th bedroom - Low Tax rate - Currently occupied until 07/31/2021

SEE MORE

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: Ferndale Estates

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $99k236k

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

Neighborhood: Ferndale Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9231677

* 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
Francone Elementary School Primary Regular 1,068 62 4
Campbell Middle School Middle Regular 1,341 84 5
Cypress Creek High School High Regular 3,161 199 7

Francone Elementary School

  • Education Level: Primary
  • # of students: 1,068
  • # of teachers: 62
4
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,341
  • # of teachers: 84
5
GreatSchools Rating

Cypress Creek High School

  • Education Level: High
  • # of students: 3,161
  • # of teachers: 199
7
GreatSchools Rating
 

$211,500$258,500$235,000

PURCHASE PRICE

$1,584$1,936$1,760

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,760
EXPENSES Loan Payment -$816
Property Tax -$496
Property Insurance -$215
HOA -$58
Property Management Fees -$99
CASH FLOW
$76

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.

$235,000

PROJECTED PRICE

$1,760

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,025

INVESTMENT

$68,025

Down Payment
$58,750
Rehab Estimate
$5,750
Closing Costs
$3,525

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,750
Loan Amount $176,250
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$6,829

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,760

    LIST RENT
  • $0.63

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $0.66

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7604$1,7955$1,800
$1,800
RENT COMPS ANALYSIS
  • 9027 Ferndale View Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,780 Sqft ∙ Built 2005
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,760
    • $0.63
    •  
  • 9011 Ferndale View Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,503 Sqft ∙ Built 2005
    property image
    LEASED 07/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.66
    •  
  • 9126 S Ferndale Place Drive Houston, TX 2
    • 5 beds 3 baths ∙ 2,678 Sqft ∙ Built 2005 5 beds 3 baths ∙ 2,678 Sqft ∙ Built 2005
    property image
    LEASED 11/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.63
    •  
  • 11010 Heron Nest St Street Houston, TX 4
    • 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,747 Sqft ∙ Built 2002
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.65
    •  
  • 11115 Heron Village Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 2004
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.69
    •  
PROPERTY LISTING DETAILS
Henri Lenaerts
1.713.553.4292
Gulf-tex Management, Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40988677
Last Updated: 12/17/2020
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