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915 W 17th Street Houston, TX 77008

3 Beds 4 Baths 2,258 sqft Built 2018

$389,500

List Price

$2,980

$2.7K - $3.2K

Rent Est.

PROPERTY INFO

November 06, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $172.50
  • 3 Days on Market
  • MLS # : 11523352
  • Updated Date : 11/06/2020 at 16:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,258 sqft
  • Baths : 3 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

Please check out the VIRTUAL LISTING !! Hurry, this home won't last long!! Priced to SELL! This gorgeous home located at highly desired Shady Acres, Heights area. Built on elevated foundation with strong architectural plan and never flooded before! Home comes with all appliances and blinds included! Extras came with standard features!Many recessed lights at home much more then standard!Jacuzzi in master bathroom! Fresh painted Luxury cabinets with soft closing system! Hardwood floors throughout no carpet! !3cm quartz countertops (above standard 2cm) in all kitchen and bathrooms!Frameless shower glasses in all bathrooms!All bedrooms have their own private baths, huge master bath with double vanity and huge walk-in closet, plus guest powder bath.Terrific 3 story floor plan with kitchen/living/dining combo, balcony and many more! Amazing Location! Close to Downtown, restaurants, hospitals, HEB, entertainments...etc!

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: 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
 

$350,550$428,450$389,500

PURCHASE PRICE

$2,682$3,278$2,980

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,980
EXPENSES Loan Payment -$1,437
Property Tax -$903
Property Insurance -$180
Property Management Fees -$99
CASH FLOW
$361

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.

$389,500

PROJECTED PRICE

$2,980

PROJECTED RENT

0.77%

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$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$108,968

INVESTMENT

$108,968

Down Payment
$97,375
Rehab Estimate
$5,750
Closing Costs
$5,843

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,437

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $97,375
Loan Amount $292,125
See What Happens When You Reinvest Cash Flow

6.58

YEARS SAVED

$35,537

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,980

    LIST RENT
  • $1.32

    LIST RENT PER SQFT
  • $2,975

    COMP ESTIMATED VALUE
  • $1.32

    COMP AVG. RENT PER SQFT
Comps Range
$2,700
1$2,7002$2,8503$2,9804$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 915 W 17th Street Houston, TX 3
    • 3 beds 4 baths ∙ 2,258 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,258 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,980
    • $1.32
    •  
  • 848 W 17th Street Houston, TX 1
    • 3 beds 4 baths ∙ 2,231 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,231 Sqft ∙ Built 2014
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.21
    •  
  • 917 W 17th Street Houston, TX 2
    • 3 beds 4 baths ∙ 2,258 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,258 Sqft ∙ Built 2018
    property image
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $1.26
    •  
  • 919 W 17th Street Houston, TX 4
    • 3 beds 4 baths ∙ 2,258 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,258 Sqft ∙ Built 2018
    property image
    LEASED 10/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $1.33
    •  
  • 1134 W 17th Street Houston, TX 5
    • 3 beds 4 baths ∙ 2,170 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,170 Sqft ∙ Built 2015
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $1.47
    •  
PROPERTY LISTING DETAILS
David Dogan
1.346.227.3225
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 11523352
Last Updated: 11/06/2020
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