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9903 Churchill Way Drive Houston, TX 77065

3 Beds 2 Baths 2,044 sqft Built 1983

$179,900

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $88.01
  • 3 Days on Market
  • MLS # : 98146759
  • Updated Date : 01/01/2021 at 08:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,044 sqft
  • Baths : 2 full
Listing Agent

Realty Associates

Listing Agent's Description

HOME HAS EXCELLENT BONES IN GREAT SUBDIVISION, NEEDS PARTIAL TO FULL REHAB, SELLING AS IS. HIGH CEILINGS AND TILE FLOORS IN OVERSIZED LIVING ROOM, KITCHEN HAS DINING ON ONE END AND BREAKFAST ROOM ON THE OTHER END. NOTE PICTURES ARE ABOUT 9 YEARS OLD.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Steeplechase

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $99k222k

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

Neighborhood: Steeplechase

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9261677

* 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
Emmott Elementary School Primary Regular 852 52 5
Campbell Middle School Middle Regular 1,341 84 5
Cypress Ridge High School High Regular 3,030 195 5

Emmott Elementary School

  • Education Level: Primary
  • # of students: 852
  • # of teachers: 52
5
GreatSchools Rating

Campbell Middle School

  • Education Level: Middle
  • # of students: 1,341
  • # of teachers: 84
5
GreatSchools Rating

Cypress Ridge High School

  • Education Level: High
  • # of students: 3,030
  • # of teachers: 195
5
GreatSchools Rating
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$664
Property Tax -$410
Property Insurance -$165
HOA -$49
Property Management Fees -$99
CASH FLOW
$153

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.

$179,900

PROJECTED PRICE

$1,540

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$13,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,569

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5403$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 9903 Churchill Way Drive Houston, TX 2
    • 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,044 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.75
    •  
  • 10223 Hedge Way Drive Houston, TX 1
    • 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 1993 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 1993
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.75
    •  
  • 11510 Meadowchase Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,114 Sqft ∙ Built 1993
    property image
    LEASED 06/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.76
    •  
  • 11406 Hambleton Way Houston, TX 4
    • 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,190 Sqft ∙ Built 1983
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.75
    •  
  • 10403 Jockey Club Drive Houston, TX 5
    • 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,038 Sqft ∙ Built 1986
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Brian Pruett
1.713.459.7787
Realty Associates
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 98146759
Last Updated: 01/01/2021
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