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PROPERTY INFO
FACTS
- Single Family
- Built In 1998
- Price/Sqft : $118.85
- 33 Days on Market
- MLS # : 65354570
- Updated Date : 11/28/2020 at 10:14
CONSTRUCTION
- Beds : 3
- Floor Size : 1,422 sqft
- Baths : 1 full , 1 half
Listing Agent
Neighborhood & Commercial Reo
Listing Agent's Description
Wow! THE HOME HAS A ADDITIONAL LARGE LOT! THIS FAMILY HOME HAS A NICE SIZE KITCHEN AND LIVING AREA. NICE HOME TO ENJOY FRIENDS AND FAMILY. GREAT LOCATION CLOSE TO MAJOR HIGHWAYS, GROCERY STORES, AND SHOPPING.
SEE MORE
- 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: Acres Home
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Acres Home
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,250 |
| EXPENSES | Loan Payment | -$624 |
| Property Tax | -$356 | |
| Property Insurance | -$123 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$48
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.
$169,000
PROJECTED PRICE
$1,250
PROJECTED RENT
0.74%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.99% |
| Appreciation Year (1-5) | 3.7% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 8.01% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$50,535
LOAN DETAILS
$624
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $42,250 |
| Loan Amount | $126,750 |
4.25
YEARS SAVED
$8,047
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,250
LIST RENT -
$0.88
LIST RENT PER SQFT
-
$1,379
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
-
922 Armada Drive Houston, TX 2
- 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 1998
![property image]()
- Rent
- Rent Per SQFT
- $1,250
- $0.88
-
6526 Cohn Street Houston, TX 1
- 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,272 Sqft ∙ Built 2012
![property image]()
LEASED 08/26/20- Rent
- Rent Per SQFT
- $1,250
- $0.98
-
6533 Apollo Street Houston, TX 3
- 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2008
![property image]()
LEASED 07/15/19- Rent
- Rent Per SQFT
- $1,275
- $0.90
-
5310 Creekmont Trace Lane Houston, TX 4
- 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,296 Sqft ∙ Built 2005
![property image]()
LEASED 03/19/20- Rent
- Rent Per SQFT
- $1,350
- $1.04
-
6528 Utah Street Houston, TX 5
- 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,453 Sqft ∙ Built 2013
![property image]()
LEASED 07/17/20- Rent
- Rent Per SQFT
- $1,400
- $0.96
PROPERTY LISTING DETAILS
1.713.826.6293
Neighborhood & Commercial Reo
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 65354570
Last Updated: 11/28/2020
