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Gorgeous 3-story home in highly appreciating neighborhood! [Code: 1221]

Posted by Powered by Simply Do It on July 26, 2022
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After 15 Years (no mortgage)  
Original purchase price $435,000
Total investment (out of pocket) $120,750
15 yrs Project house value $783,410
Value (appreciation) Gain $348,410
15 yrs cash-flow generated $62,427
Total Gain $410,838
ROI (15 yrs) 340%
ROI (annually) 23%
   
Free & Clear cash flow (yr.) $28,137
Free & Clear cash flow (m) $2,345
  • Large turnkey 3-story story home (3 bedroom, 3.5 bath)
  • Price recently dropped by $25K!
  • This location with easy freeway access makes commuting to Downtown, the Galleria, and Energy Corridor a breeze
  • Refrigerator and washer/dryer included
  • Open house is scheduled for 8/7/22.  Get your offer in before everyone else does! 
  • Beautiful kitchen with granite countertops and stainless steel appliances, two balconies, and a backyard with a deck
  • LVP/Tile/Carpet floors and upgrades throughout 
  • ~ $150/mo. cash flow 
  • No HOA costs
  • B/C rated schools
  • 46 Days on the Market.  Wonderful negotiation opportunity for you! 
  • Location is just minutes from parks, restaurants, and nightlife
  • 2 car attached garage

Why should you consider this house / what makes it a good investment?

  • Built: 2014
  • Size: 2409 square foot lot
  • Low Crime, Desirable community, Turnkey property

            What's next?

            Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.

            Metro: Houston

            Team: Jenny – email directly at hou1@simplydoit.net

            Code: 1221

            Property Specifications 1
             Bedrooms 3
             Bathrooms 3.5
             Square Feet 2170
             Year Built 2014
             Garage Size 2
             Schools Rating (on scale of A-C) B/C
            Purchase Assumptions My Offer
            Offer used for analysis $435,000
            Suggested offer (low) $435,000
            Suggested offer (high) $449,500
            Asking $449,500
            Market Value (after improvements) $435,000
            Improvements (lower) $3,000
            Improvements (upper) $5,000
            Closing Costs $4,000
            Mortgage Costs $4,000
            Other Fees At Closing $0
            Total Cost  $447,000
            Financial Assumptions Monthly Yearly
            Rent (upper) $2,975 $3,050 $36,600
            Rent (lower) $2,900 $34,800
             Property Tax Rate (Approx.) 2.3%  
             Property Taxes $747 $8,974
             Insurance $103 $1,236
             Repairs $75 $900
            Variable-Cost PM 0.0%  
            Property Management Fee $100 $1,200
             Leasing Fee 80% $58.0 $700
             HOA $0 $0
             Vacancy Rate 4.0%  
             Total Fixed Expenses $1,198 $14,376
             Total Expenses (Fixed + Mortgage) $2,900 $34,798

            Financial Analysis / Deal Attractiveness        
            Years: 5 10 15 20
             Cap Rate 1.5% 2.4% 3.4% 4.5%
             Net Cash Flow $8,858 $29,267 $62,427 $109,667
             Equity Increase $121,981 $271,800 $455,865 $682,072
             Total Gain $130,840 $301,067 $518,292 $791,739
                       
             Average Cash Flow/Year $1,772 $2,927 $4,162 $5,483
             Average Cash Flow/Month $148 $244 $347 $457
             Average Gain/Year $26,168 $30,107 $34,553 $39,587
             Average ROI 108.4% 249.3% 429.2% 655.7%
             Annual ROI 21.7% 24.9% 28.6% 32.8%
            Property Ratings Suggestions
             Item      Suggested Criteria (Min.) This Property FAVORABLE /
            INSUFFICIENT
             Schools     B B/C #N/A
             Square Feet   1000 2,170 FAVORABLE
             Bedrooms   3 3 FAVORABLE
             Bathrooms   2 3.5 FAVORABLE
             Year Built   1970 2014 FAVORABLE
             Rent/Price (%)   0.75% 0.70% INSUFFICIENT
             Average Cash Flow (at year 5) $125 $148 FAVORABLE
             Average ROI (at year 5) 15% 21.7% FAVORABLE
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            Disclaimer

            Information contained herein was obtained from sources deemed reliable, however, Simply Do It and/or the owner(s) of the property make no guarantees, warranties or representation as to the completeness or accuracy thereof. The presentation of the property is offered subject to errors, omissions, changes in price and/or terms, prior sale or lease or removal from the market for any reason without notice.

            The analysis is provided “As Is”. All the information is believed to be accurate (except for the small effects of some simplifying assumptions), but is not guaranteed, and depends on the values entered for the property. This analysis is intended for the purpose of illustrative projections. The information provided is not intended to replace or substitute for any legal, accounting, investment, real estate, tax, or other professional advice, consultation, or service. Simply Do It and/or the owner(s) are not responsible nor liable for any damages arising from the use of the analysis info. 

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