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9306 Moorfield Court Houston, TX 77083

3 Beds 2 Baths 1,342 sqft Built 1982

$185,000

List Price

$1,350

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $137.85
  • 23 Days on Market
  • MLS # : 11949920
  • Updated Date : 12/12/2020 at 16:54
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,342 sqft
  • Baths : 2 full
Listing Agent

Meridian Real Estate

Listing Agent's Description

This elegantly upgraded home in such a nice and convenient location has NEW ROOF, NEW LAMINATE FLOOR, NEW HEATING AND COOLING SYSTEM, NEW PAINT INSIDE AND OUT, 2'' wood blinds and a fully screened and spacious porch in the back. Nice large yard in cul-de-sac. Quality construction with brick all around. Wonderful Kitchen and two beautiful Baths. Tennis courts and swimming pool with nicely managed HOA. Highly rated Fort Bend ISD with Kempner High school. Quiet and peaceful neighborhood adjacent to Highway 6 with Shopping malls, hospitals and all other facilities close-by. Grocery stores, restaurants, banks, pharmacies, all just 5 minutes away. Wonderful kitchen, and two beautiful bathrooms. Make arrangements to see this house soon.

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: Dover

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $86k305k

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

Neighborhood: Dover

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8552063

* 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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,215$1,485$1,350

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,350
EXPENSES Loan Payment -$683
Property Tax -$366
Property Insurance -$105
HOA -$31
Property Management Fees -$99
CASH FLOW
$67

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.

$185,000

PROJECTED PRICE

$1,350

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 9.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$8,145

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,350

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,362

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$1,150
1$1,1502$1,3503$1,3504$1,3955$1,525
$1,525
RENT COMPS ANALYSIS
  • 9306 Moorfield Court Houston, TX 3
    • 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,342 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
  • 10010 Bell Towne Drive Sugar Land, TX 1
    • 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,175 Sqft ∙ Built 1981
    property image
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $0.98
    •  
  • 13841 Purplemartin Street Houston, TX 2
    • 3 beds 3 baths ∙ 1,340 Sqft ∙ Built 1997 3 beds 3 baths ∙ 1,340 Sqft ∙ Built 1997
    property image
    LEASED 11/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.01
    •  
  • 10118 Limewood Lane Sugar Land, TX 4
    • 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,356 Sqft ∙ Built 1981
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.03
    •  
  • 14314 Moorfield Drive Houston, TX 5
    • 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,465 Sqft ∙ Built 1984
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.04
    •  
PROPERTY LISTING DETAILS
Riaz Malik
1.832.646.4646
Meridian Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 11949920
Last Updated: 12/12/2020
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