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9310 Rustler Ridge Lane Houston, TX 77089

4 Beds 3 Baths 2,286 sqft Built 2003

$249,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $108.92
  • 17 Days on Market
  • MLS # : 77382176
  • Updated Date : 12/05/2020 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,286 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Gorgeous 2 story home in Riverston Ranch with 4 beds, 2.5 baths. Large office on the 1st floor with a french door. Cozy living room with fireplace for family gathering. Beautiful laminate floor. Kitchen with stainless steel appliances and modern color cabinet. Master bedroom with ceiling fan, double sinks, a shower stand, a bathtub, and spacious walk-in closet. Huge backyard with patio. Water heater replaced in 2018, AC replaced in 2019. NEVER FLOODED!!!!!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Riverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $99k270k

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

Neighborhood: Riverstone Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100011001200130014001500160017001800Rent in $9691869

* 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
South Belt Elementary School Primary Regular 542 37 7
Dr Dixie Melillo Middle School Middle Regular 981 64 6
J Frank Dobie High School High Regular 4,010 223 5

South Belt Elementary School

  • Education Level: Primary
  • # of students: 542
  • # of teachers: 37
7
GreatSchools Rating

Dr Dixie Melillo Middle School

  • Education Level: Middle
  • # of students: 981
  • # of teachers: 64
6
GreatSchools Rating

J Frank Dobie High School

  • Education Level: High
  • # of students: 4,010
  • # of teachers: 223
5
GreatSchools Rating
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$919
Property Tax -$529
Property Insurance -$182
HOA -$41
Property Management Fees -$99
CASH FLOW
$91

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.

$249,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.7%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$919

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

4.08

YEARS SAVED

$10,809

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $2,006

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8603$1,9004$1,9555$2,300
$2,300
RENT COMPS ANALYSIS
  • 9310 Rustler Ridge Lane Houston, TX 2
    • 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,286 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.81
    •  
  • 9511 Eddys Edge Court Houston, TX 1
    • 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,122 Sqft ∙ Built 2002
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.85
    •  
  • 8710 Kirksage Drive Houston, TX 3
    • 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,150 Sqft ∙ Built 2006
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.88
    •  
  • 2404 Country Club Drive Pearland, TX 4
    • 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,328 Sqft ∙ Built 1993
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,955
    • $0.84
    •  
  • 2320 Augusta Drive Pearland, TX 5
    • 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,450 Sqft ∙ Built 1993
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.94
    •  
PROPERTY LISTING DETAILS
Thao Nguyen
1.832.513.0028
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77382176
Last Updated: 12/05/2020
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