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RARE Single Story Find in Houston Metro [Code:5]

Posted by Powered by Simply Do It on August 25, 2022
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After 15 Years (no mortgage)  
Original purchase price $355,000
Total investment (out of pocket) $98,350
15 yrs Project house value $687,960
Value (appreciation) Gain $332,960
15 yrs cash-flow generated $59,882
Total Gain $392,843
ROI (15 yrs) 399%
ROI (annually) 27%
   
Free & Clear cash flow (yr.) $24,479
Free & Clear cash flow (m) $2,040
  • 3 bedroom, 3 bath single family detached residence with additional study/home office
  • 27 Days on the Market.  Great Negotiation Opportunity! 
  • Quiet residential street.  Perfect location for a family with children
  • ~ $160/mo. cash flow 
  • $27K instant equity if suggested offer is accepted
  • Zero HOA costs
  • NEW ROOF & Fresh Trim Paint 2022, A/C 2020, & Water Heater 2018
  • Fantastic Location just Minutes from the interstate which is great for commuters
  • Attached 2-car garage
  • Hard to Find Single Story with large kitchen and fully fenced yard
  • 7,593 square foot lot


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

  • Built: 2000
  • Size: 2,551 square foot home
  • Low Crime, Desirable community, A-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: 5


            Property Specifications 1
             Bedrooms 3
             Bathrooms 3
             Square Feet 2551
             Year Built 2000
             Garage Size 2
             Schools Rating (on scale of A-C) A

            Purchase Assumptions My Offer
            Offer used for analysis $355,000
            Suggested offer (low) $355,000
            Suggested offer (high) $364,900
            Asking $364,900
            Market Value (after improvements) $382,000
            Improvements (lower) $2,000
            Improvements (upper) $3,000
            Closing Costs $3,550
            Mortgage Costs $3,550
            Other Fees At Closing $0
            Total Cost  $364,600

            Financial Assumptions Monthly Yearly
            Rent (upper) $2,425 $2,450 $29,400
            Rent (lower) $2,400 $28,800
             Property Tax Rate (Approx.) 2.3%  
             Property Taxes $450 $5,401
             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 $879 $10,548
             Total Expenses (Fixed + Mortgage) $2,329 $27,944

            Financial Analysis / Deal Attractiveness        
            Years: 5 10 15 20
             Cap Rate 1.9% 3.0% 4.1% 5.2%
             Net Cash Flow $9,564 $29,176 $59,882 $102,838
             Equity Increase $104,087 $232,319 $390,390 $585,365
             Total Gain $113,651 $261,495 $450,272 $688,203
                       
             Average Cash Flow/Year $1,913 $2,918 $3,992 $5,142
             Average Cash Flow/Month $159 $243 $333 $428
             Average Gain/Year $22,730 $26,149 $30,018 $34,410
             Average ROI 115.6% 265.9% 457.8% 699.7%
             Annual ROI 23.1% 26.6% 30.5% 35.0%
             Projected Property Value $464,761 $565,453 $687,960 $837,009

            Property Ratings Suggestions
             Item      Suggested Criteria (Min.) This Property FAVORABLE /
            INSUFFICIENT
             Schools     B A FAVORABLE
             Square Feet   1000 2,551 FAVORABLE
             Bedrooms   3 3 FAVORABLE
             Bathrooms   2 3 FAVORABLE
             Year Built   1970 2000 FAVORABLE
             Rent/Price (%)   0.75% 0.69% INSUFFICIENT
             Average Cash Flow (at year 5) $125 $159 FAVORABLE
             Average ROI (at year 5) 15% 23.1% 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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