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9572 Longmont Drive Houston, TX 77063

3 Beds 3 Baths 2,784 sqft Built 1983

$419,950

List Price

$2,830

$2.6K - $3.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $150.84
  • 45 Days on Market
  • MLS # : 26828911
  • Updated Date : 02/05/2021 at 23:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,784 sqft
  • Baths : 3 full
Listing Agent

Evan S. Howell, Inc.

Listing Agent's Description

This is a hidden gem in a great location with a private view of of the common area acreage above the bayou. This 3 bedroom 3 bath home features lots of space an extras. Automatic shutters over french doors that lead to spacious deck. Community features tennis courts and pool. Estate sale sold as is needs some TLC. No disclosures required. See to believe!!! Did not flood per seller. Please see attachments and instructions to submit offers.

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: Woodlake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450kPrice in $99k454k

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

Neighborhood: Woodlake Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $9692870

* 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
Emerson Elementary School Primary Regular 947 50 5
Revere Middle School Middle Magnet 1,248 70 5
Wisdom High School High Magnet 1,533 77 2

Emerson Elementary School

  • Education Level: Primary
  • # of students: 947
  • # of teachers: 50
5
GreatSchools Rating

Revere Middle School

  • Education Level: Middle
  • # of students: 1,248
  • # of teachers: 70
5
GreatSchools Rating

Wisdom High School

  • Education Level: High
  • # of students: 1,533
  • # of teachers: 77
2
GreatSchools Rating
 

$377,955$461,945$419,950

PURCHASE PRICE

$2,547$3,113$2,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,830
EXPENSES Loan Payment -$1,459
Property Tax -$886
Property Insurance -$215
HOA -$167
Property Management Fees -$99
CASH FLOW
$5

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.

$419,950

PROJECTED PRICE

$2,830

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,037

INVESTMENT

$117,037

Down Payment
$104,988
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,459

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,988
Loan Amount $314,963
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,839

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,830

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $2,826

    COMP ESTIMATED VALUE
  • $1.02

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,7003$2,8004$2,8005$2,830
$2,830
RENT COMPS ANALYSIS
  • 9572 Longmont Drive Houston, TX 5
    • 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,784 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,830
    • $1.02
    •  
  • 9559 Doliver Dr Houston, TX 1
    • 3 beds 3 baths ∙ 2,484 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,484 Sqft ∙ Built 1983
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.91
    •  
  • 9665 Longmont Drive Houston, TX 2
    • 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,696 Sqft ∙ Built 1982
    property image
    LEASED 07/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,700
    • $1.00
    •  
  • 9570 Doliver Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,491 Sqft ∙ Built 1980
    property image
    LEASED 06/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.12
    •  
  • 9535 Bayou Brook Street Houston, TX 4
    • 3 beds 4 baths ∙ 2,709 Sqft ∙ Built 1983 3 beds 4 baths ∙ 2,709 Sqft ∙ Built 1983
    property image
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Evan Howell
1.713.249.4453
Evan S. Howell, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 26828911
Last Updated: 02/05/2021
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