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9222 Floral Crest Drive Houston, TX 77083

3 Beds 3 Baths 2,018 sqft Built 2001

$150,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $74.33
  • 3 Days on Market
  • MLS # : 98814962
  • Updated Date : 02/06/2021 at 12:53
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,018 sqft
  • Baths : 2 full , 1 half
Listing Agent

Champion Real Estate

Listing Agent's Description

Investor or handyman special, as is where is, not repairs by seller.

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: Eaglewood

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Eaglewood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001050110011501200125013001350140014501500155016001650Rent in $9691677

* 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
Holley Elementary School Primary Regular 754 52 6
Hodges Bend Middle School Middle Regular 1,169 67 5
Bush High School High Regular 2,192 112 6

Holley Elementary School

  • Education Level: Primary
  • # of students: 754
  • # of teachers: 52
6
GreatSchools Rating

Hodges Bend Middle School

  • Education Level: Middle
  • # of students: 1,169
  • # of teachers: 67
5
GreatSchools Rating

Bush High School

  • Education Level: High
  • # of students: 2,192
  • # of teachers: 112
6
GreatSchools Rating
 

$135,000$165,000$150,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$521
Property Tax -$391
Property Insurance -$144
HOA -$17
Property Management Fees -$99
CASH FLOW
$459

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.

$150,000

PROJECTED PRICE

$1,630

PROJECTED RENT

1.09%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.3%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 20% down payment or higher enables the proceeds from the asset to cover all costs.

$521

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

14.58

YEARS SAVED

$36,433

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,675

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,495
1$1,4952$1,5953$1,6004$1,6305$1,700
$1,700
RENT COMPS ANALYSIS
  • 9222 Floral Crest Drive Houston, TX 4
    • 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,018 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.81
    •  
  • 16110 Darwood Court Houston, TX 1
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 2001
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.79
    •  
  • 16214 Mission Glen Drive Houston, TX 2
    • 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,885 Sqft ∙ Built 1995
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 16206 Mission Glen Drive Houston, TX 3
    • 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1995 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1995
    LEASED 05/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.84
    •  
  • 9255 Eaglewood Glen Trail Houston, TX 5
    • 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,028 Sqft ∙ Built 2001
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.84
    •  
PROPERTY LISTING DETAILS
Jo Krejci
1.281.414.1990
Champion Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 98814962
Last Updated: 02/06/2021
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