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905 W 19th Street Houston, TX 77008

3 Beds 3 Baths 1,776 sqft Built 2014

$349,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $196.51
  • 3 Days on Market
  • MLS # : 50407364
  • Updated Date : 01/22/2021 at 11:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,776 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Wonderful detached single-family home with first floor living! Terrific walkable location within a gated community located in The Greater Heights. Open concept living area with beautiful hardwood floors. Kitchen opens to living room and features granite countertops, plenty of cabinets, and stainless steel appliances. Large dining space with easy access to the kitchen, living room, and patio. Private, fully fenced patio is a perfect place for a grill, outdoor furniture or to let pets out. Upstairs, all bedrooms are on one level with a private master bedroom and en suite bath, featuring a separate tub and shower, his and her closets, and dual sink vanity! Two additional bedrooms are spacious with a jack and jill bath. Laundry room is also located on the second floor and the washer and dryer are furnished. If you're looking for easy access to popular restaurants and the new grocery stores, this is the place! Plenty of additional parking right outside community and home has never flooded!

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: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400kPrice in $99k436k

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

Neighborhood: Shady Acres

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600Rent in $9692745

* 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
Sinclair Elementary School Primary Magnet 534 34 6
Hamilton Middle School Middle Magnet 1,248 64 6
Waltrip High School High Magnet 1,663 94 3

Sinclair Elementary School

  • Education Level: Primary
  • # of students: 534
  • # of teachers: 34
6
GreatSchools Rating

Hamilton Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 64
6
GreatSchools Rating

Waltrip High School

  • Education Level: High
  • # of students: 1,663
  • # of teachers: 94
3
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,212
Property Tax -$736
Property Insurance -$147
HOA -$50
Property Management Fees -$99
CASH FLOW
$246

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.

$349,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.4%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$21,021

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $1.4

    LIST RENT PER SQFT
  • $2,486

    COMP ESTIMATED VALUE
  • $1.4

    COMP AVG. RENT PER SQFT
Comps Range
$2,395
1$2,3952$2,4003$2,4904$2,6005$2,825
$2,825
RENT COMPS ANALYSIS
  • 905 W 19th Street Houston, TX 3
    • 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2014 3 beds 3 baths ∙ 1,776 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $1.40
    •  
  • 902b W 20th Houston, TX 1
    • 3 beds 4 baths ∙ 1,950 Sqft ∙ Built 2016 3 beds 4 baths ∙ 1,950 Sqft ∙ Built 2016
    LEASED 07/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.23
    •  
  • 627 W 20th Street Houston, TX 2
    • 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,690 Sqft ∙ Built 2004
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.42
    •  
  • 617 W 20th Street Houston, TX 4
    • 3 beds 3 baths ∙ 1,801 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,801 Sqft ∙ Built 2004
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.44
    •  
  • 1013 W 16th Street Houston, TX 5
    • 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,867 Sqft ∙ Built 2007
    LEASED 09/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,825
    • $1.51
    •  
PROPERTY LISTING DETAILS
Amanda Ruchti
1.832.524.7637
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50407364
Last Updated: 01/22/2021
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