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12328 Springcrest Drive Houston, TX 77072

3 Beds 3 Baths 1,412 sqft Built 1980

INVESTimate

$149,000

List Price

$1,240

$1,116 - $1,364

Rent Est.

$45,235

Investment Est.

$162,634  ( +9.15%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $105.52
  • 2 Days on Market
  • MLS # : 11338788
  • Updated Date : 08/25/2020 at 11:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,412 sqft
  • Baths : 2 full , 1 half
Listing Agent

Southwest Realty Group

Listing Agent's Description

Lovely two story courtyard home with new roof, new A/C cooling system, new double pane sliding door, new kitchen granite counter top, new dishwasher, new kitchen sink and faucet. New vinyl tiles throughout the first floor and three bedrooms upstairs with all new carpet. Sizable primary room with two closets and some sitting area. The area of the side yard and backyard are easy to manage.

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MARKET HIGHLIGHTS

Houston Market Report
  • 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: Alief

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k222k

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

Neighborhood: Alief

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8351677

* 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
Youngblood Intermediate School Primary Regular 1,094 75 6
Youngblood Intermediate School Middle Regular 1,094 75 6
Hastings High School High Regular 3,890 260 4

Youngblood Intermediate School

  • Education Level: Primary
  • # of students: 1,094
  • # of teachers: 75
6
GreatSchools Rating

Youngblood Intermediate School

  • Education Level: Middle
  • # of students: 1,094
  • # of teachers: 75
6
GreatSchools Rating

Hastings High School

  • Education Level: High
  • # of students: 3,890
  • # of teachers: 260
4
GreatSchools Rating
 

FINANCIALS

Learn how to read this

$134,100$163,900$149,000

PURCHASE PRICE

$1,116$1,364$1,240

RENT

DOWN PAYMENT
FINANCING
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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow

  • Appreciation

  • Principal
11530$0.0$100k$200k$300k$400k$500k

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,240
EXPENSES Loan Payment -$550
Property Tax -$314
Property Insurance -$123
HOA -$67
Property Management Fees -$99
CASH FLOW
$87

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$149,000

PROJECTED PRICE

$1,240

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.15%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$45,235

INVESTMENT

$45,235

Down Payment		 $37,250
Rehab Estimate		 $5,750
Closing Costs		 $2,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$550

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,250
Loan Amount $111,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$9,360

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,240

    LIST RENT

  • $0.88

    LIST RENT PER SQFT

  • $1,288

    COMP ESTIMATED VALUE

  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,2003$1,2404$1,3005$1,400
$1,400
RENT COMPS ANALYSIS
  • 12328 Springcrest Drive Houston, TX 3
    • 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1980 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,240
    • $0.88
    •  
  • 7245 Cook Road Houston, TX 1
    • 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,280 Sqft ∙ Built 1970
    property image
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.86
    •  
  • 7816 Fair Acres Street Houston, TX 2
    • 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1973 3 beds 3 baths ∙ 1,364 Sqft ∙ Built 1973
    property image
    LEASED 01/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.88
    •  
  • 12411 Windjammer Houston, TX 4
    • 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1977 3 beds 3 baths ∙ 1,412 Sqft ∙ Built 1977
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.92
    •  
  • 12055 Sela Lane Houston, TX 5
    • 4 beds 2 baths ∙ 1,415 Sqft ∙ Built 1969 4 beds 2 baths ∙ 1,415 Sqft ∙ Built 1969
    property image
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.99
    •  
PROPERTY LISTING DETAILS
LISTING AGENT
Susan Chau
1.832.646.9718
Southwest Realty Group
BUYER AGENT
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
SOURCE
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 11338788
Last Updated: 08/25/2020

All returns, cash flow, and appreciation estimates are projections. Please review our Disclaimer for more information.

All values are rounded to the nearest dollar.
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