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9107 Chesney Downs Drive Houston, TX 77083

3 Beds 3 Baths 2,257 sqft Built 1982

$235,900

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $104.52
  • 2 Days on Market
  • MLS # : 90299703
  • Updated Date : 01/23/2021 at 00:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,257 sqft
  • Baths : 2 full , 1 half
Listing Agent

Welcome Home Residential, Llc

Listing Agent's Description

THIS HOME FEATURES A HUGE DEN WITH ADJOINING DINING ROOM, VERY OPEN ISLAND KITCHEN AND BREAKFAST ROOM, MASTER SUITE WITH DOORS OUT TO BACK YARD, TWO CAR GARAGE WITH AUTO OPENER, PATIO, FENCED YARD, BEAUTIFUL TREES. GRANITE COUNTERS IN BATHS, TILE & CARPET, NOTE THE LARGE SIZED ROOMS. REFRIGERATOR WASHER AND DRYER INCLUDED. POSSIBLE LEASE PURCHASE OR OWNER FINANCING PLEASE EMAIL ME FOR MORE DETAILS.

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
 

$212,310$259,490$235,900

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$819
Property Tax -$466
Property Insurance -$157
HOA -$25
Property Management Fees -$99
CASH FLOW
$32

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.

$235,900

PROJECTED PRICE

$1,600

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

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

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$68,264

INVESTMENT

$68,264

Down Payment
$58,975
Rehab Estimate
$5,750
Closing Costs
$3,539

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$819

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,975
Loan Amount $176,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,202

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.71

    LIST RENT PER SQFT
  • $1,631

    COMP ESTIMATED VALUE
  • $0.72

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,6004$1,7505$1,850
$1,850
RENT COMPS ANALYSIS
  • 9107 Chesney Downs Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,257 Sqft ∙ Built 1982
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.71
    •  
  • 9115 Woodleigh Drive Houston, TX 1
    • 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 1983
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.70
    •  
  • 9010 Sabastian Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 1981 4 beds 3 baths ∙ 2,275 Sqft ∙ Built 1981
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.66
    •  
  • 14823 Knightsway Drive Houston, TX 4
    • 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 1983 4 beds 2 baths ∙ 2,328 Sqft ∙ Built 1983
    LEASED 07/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.75
    •  
  • 14743 Charlmont Drive Houston, TX 5
    • 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1984 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 1984
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
PROPERTY LISTING DETAILS
Rizwan Adenwalla
1.832.620.2200
Welcome Home Residential, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 90299703
Last Updated: 01/23/2021
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