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914 Companion Drive Crosby, TX 77532

4 Beds 3 Baths 1,948 sqft Built 1984

$189,000

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

October 29, 2020 RECENTLY ADDED
FACTS
  • Built In 1984
  • Price/Sqft : $97.02
  • 6 Days on Market
  • MLS # : 61516104
  • Updated Date : 10/29/2020 at 09:46
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,948 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Platinum

Listing Agent's Description

Nestled in the quiet community of Newport, this 4-bedroom, 2.5-bathroom property boasts wood flooring, a great room with a vaulted beamed ceiling and a brick fireplace, a dining room, and an extra room off the garage. Hone your culinary skills in the amazing kitchen, featuring a gas range and breakfast bar. Feel the stress melt as you relax in the spa-like primary suite, complete with a walk-in closet, dual vanities, and a tub. The spacious backyard with a patio and mature trees is the perfect place to host gatherings with family and friends. Community amenities include access to the Stonebridge at Newport golf club, pool, tennis courts, a 7-acre park with splash pad, boat access to Lake Houston, and more! Located near U.S. 90, residents enjoy easy commutes to the Houston Ship Channel and Deer Park. Schools are zoned to Crosby ISD. This is a home you don’t want to miss – call today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $89k222k

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

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8591677

* 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
Newport Elementary School Primary Regular 683 48 7
Crosby Middle School Middle Regular 809 50 6
Crosby Middle School High Regular 809 50 6

Newport Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 48
7
GreatSchools Rating

Crosby Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating

Crosby Middle School

  • Education Level: High
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating
 

$170,100$207,900$189,000

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$697
Property Tax -$452
Property Insurance -$159
HOA -$55
Property Management Fees -$99
CASH FLOW
$188

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.

$189,000

PROJECTED PRICE

$1,650

PROJECTED RENT

0.87%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.4%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$55,835

INVESTMENT

$55,835

Down Payment
$47,250
Rehab Estimate
$5,750
Closing Costs
$2,835

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$697

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,250
Loan Amount $141,750
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$16,461

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,748

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,645
1$1,6452$1,6503$1,6754$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 914 Companion Drive Crosby, TX 2
    • 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 1984 4 beds 3 baths ∙ 1,948 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.85
    •  
  • 16107 Spinnaker Drive Crosby, TX 1
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1975
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,645
    • $0.91
    •  
  • 16430 N Spinnaker Drive Crosby, TX 3
    • 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,882 Sqft ∙ Built 1977
    LEASED 01/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.89
    •  
  • 15919 Spinnaker Drive Crosby, TX 4
    • 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,954 Sqft ∙ Built 1975
    LEASED 06/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 16206 S Helm Court Crosby, TX 5
    • 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 1983 3 beds 3 baths ∙ 1,856 Sqft ∙ Built 1983
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 61516104
Last Updated: 10/29/2020
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