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Gorgeous 4-story modern home in Houston! [Code: 1523]

Posted by Powered by Simply Do It on August 26, 2022
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Why THIS deal?
  • Newer construction which means less upkeep and make-ready for a new tenant
  • No HOA fees
  • $15K in instant equity if the suggested offer price is accepted
  • Modern build with open concept floor plan.  Very desirable for young professionals working downtown.
  • Closely located to downtown Houston without being in the heart of the city. Great for families with children.
  • Over $430/mo. cash flow
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After 15 Years (no mortgage)  
Original purchase price $435,000
Total investment (out of pocket) $119,950
15 yrs Project house value $810,425
Value (appreciation) Gain $375,425
15 yrs cash-flow generated $121,543
Total Gain $496,968
ROI (15 yrs) 414%
ROI (annually) 28%
   
Free & Clear cash flow (yr.) $33,670
Free & Clear cash flow (m) $2,806
  • 3 bedroom, 3.5 bath 4-story detached home with amazing view and rooftop deck
  • Close to the city.  Great for young professionals and commuters
  • Small neighborhood community
  • ~ $435/mo. cash flow 
  • $15K instant equity if suggested offer is accepted
  • Zero HOA costs
  • All bedrooms have en-suite baths & large closets, entertain in warmth of hardwood floors in a large living room, plenty of natural light through large windows, gather around quartz C-top huge center island, get fresh air in balcony or do yoga on rooftop terrace to relax. 
  • Double crown moldings, recessed lighting throughout, lots of soft close kitchen storage cabinets, built in wine refrigerator, SS appliances, tile backsplash, under-mount sink, pendant lights, prewired for surround sound, primary bedroom has separate tub & shower, double sinks, 2nd bedroom on the same floor gives flexibility to have child's room/home office 
  • Easy highway access to Houston Medical Center, Museum District, Galleria. Schedule to view today. 
  • Not in a flood zone
  • Open House is scheduled for tomorrow.  Get your offer in now!!
  • Attached 2-car garage
  • 1,810 square foot lot


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

  • Built: 2015
  • Size: 2,308 square foot home
  • Low Crime, Desirable community, B-rated Schools

            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: 1523



            Property Specifications 1
             Bedrooms 3
             Bathrooms 3.5
             Square Feet 2308
             Year Built 2015
             Garage Size 2
             Schools Rating (on scale of A-C) B

            Purchase Assumptions My Offer
            Offer used for analysis $435,000
            Suggested offer (low) $435,000
            Suggested offer (high) $450,000
            Asking $450,000
            Market Value (after improvements) $450,000
            Improvements (lower) $2,000
            Improvements (upper) $3,000
            Closing Costs $4,350
            Mortgage Costs $4,350
            Other Fees At Closing $0
            Total Cost  $446,200

            Financial Assumptions Monthly Yearly
            Rent (upper) $3,400 $3,450 $41,400
            Rent (lower) $3,350 $40,200
             Property Tax Rate (Approx.) 2.3%  
             Property Taxes $806 $9,667
             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 $1,274 $15,282
             Total Expenses (Fixed + Mortgage) $3,050 $36,599

            Financial Analysis / Deal Attractiveness        
            Years: 5 10 15 20
             Cap Rate 4.4% 5.5% 6.8% 8.1%
             Net Cash Flow $26,213 $66,248 $121,543 $193,687
             Equity Increase $123,625 $275,987 $463,880 $695,736
             Total Gain $149,839 $342,236 $585,423 $889,423
                       
             Average Cash Flow/Year $5,243 $6,625 $8,103 $9,684
             Average Cash Flow/Month $437 $552 $675 $807
             Average Gain/Year $29,968 $34,224 $39,028 $44,471
             Average ROI 124.9% 285.3% 488.1% 741.5%
             Annual ROI 25.0% 28.5% 32.5% 37.1%
             Projected Property Value $547,494 $666,110 $810,425 $986,005

            Property Ratings Suggestions
             Item      Suggested Criteria (Min.) This Property FAVORABLE /
            INSUFFICIENT
             Schools     B B FAVORABLE
             Square Feet   1000 2,308 FAVORABLE
             Bedrooms   3 3 FAVORABLE
             Bathrooms   2 3.5 FAVORABLE
             Year Built   1970 2015 FAVORABLE
             Rent/Price (%)   0.75% 0.79% FAVORABLE
             Average Cash Flow (at year 5) $125 $437 FAVORABLE
             Average ROI (at year 5) 15% 25.0% 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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