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New deal alert ūüö® in HOUSTON! [Code: 9107]

Posted by Powered by Simply Do It on July 8, 2024
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Why THIS deal??
  • ~$112/mo. cash flow once you can refi to 6.0%¬†
  • Cash flows at ~$26/mo. at today's rates of 6.75%

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  • Single Family Home with 3 bedrooms and 2 full bathrooms
  • Recent price drop of $15K on 7/1/2024
  • New Roof 5/2024
  • New A/C 2023
  • Water heater replaced 2021
  • Location has quick access to major commuting routes, shopping and schools
  • Hard flooring in all major living areas.¬† Perfect for a rental.¬†
  • Highly appreciating area with strong rental market
  • Property has been on the market¬†for 34 days
  • No HOA charges
  • #cashflow¬† #appreciation¬†¬†

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

  • Built: 1989
  • Size:1,831 square foot home
  • Low Crime, Desirable Community, A/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: 9107

Property Specifications1
 Bedrooms3
 Bathrooms2
 Square Feet1831
 Year Built1989
 Garage Size2
 Schools Rating (scale 3-30, 30 is best)16
Lot size (sq ft)7090

Purchase AssumptionsMy Offer
Offer used for analysis$250,000
Suggested offer (low)$250,000
Suggested offer (high)$275,000
Asking$275,000
Market Value (after improvements)$260,000
Estimated Improvements (lower)$3,000
Estimated Improvements (upper)$6,000
Estimated Closing Costs$4,000
Estimated Mortgage Costs$4,000
Other Fees At Closing (pts, . . . )$1,750
Total Cost (estimated)$264,250

Financing Assumptions 
 Down Payment (%) 30%
 Down Payment Amount$75,000
 Financed Amount$175,000
 Interest Rate 6.750%
 Mortgage Term (Years)30
 Monthly Mortgage Payment$1,135
 Cash Outlay (Total Out of Pocket) $89,250

Estimated Financial Assumptions
 MonthlyYearly
Rent (upper)*$1,950$2,000$24,000
Rent (lower)*$1,900$22,800
    
Property Taxes $375$4,631
Insurance $150$1,800
Repairs75$75$900
Property Management Monthly (%)0.0% 
Property Management Monthly ($)$100$1,200
Leasing Fee80%$65.0$780
HOA or Fixed Costs$31$368
Vacancy Rate 4.0% 
Total Fixed Expenses45%$870$10,440
 Total Expenses (Fixed + Mortgage)$2,005$24,061

Financial Analysis / Deal Attractiveness    
Years:5101520
 Cap Rate0.4%1.9%3.6%5.5%
 Net Cash Flow$1,581$16,661$47,637$97,319
 Equity Increase$67,047$150,587$254,979$385,843
 Total Gain$68,629$167,248$302,616$483,161
      
 Average Cash Flow/Year$316$1,666$3,176$4,866
 Average Cash Flow/Month$26$139$265$405
 Average Gain/Year$13,726$16,725$20,174$24,158
 Average ROI76.9%187.4%339.1%541.4%
 Annual ROI15.4%18.7%22.6%27.1%
 Projected Property Value$316,330$384,864$468,245$569,692

Property Ratings Suggestions
 Item   Suggested Criteria (Min.)This PropertyFAVORABLE /
INSUFFICIENT
 Schools (scale of 3-30, 30 is the best) 1416FAVORABLE
 Square Feet  1,0001,831FAVORABLE
 Bedrooms  33FAVORABLE
 Bathrooms  22FAVORABLE
 Year Built  19701989FAVORABLE
 Average Cash Flow (at year 5)  $125$26INSUFFICIENT
 Average ROI (at year 5)  15%15.4%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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