Houston American Dream Rental
This house is GREAT!
- The Corner lot that sits next to a trail
- It's zoned to good schools, and close to tons of shopping and near the outlet mall.
- 4 beds, 2 bath, 2075 sq ft, 2 car garage, built in 1988
- Has a fenced back yard – nice bonus + a large back yard and a tool shed
- It is missing the white picket fence to make it truly an american dream home ☺
Our Suggested Buying Strategy
Asking is $300,000 BUT since it has been sitting on the market for 25+ days coupled with the fact that the seller is on of the iBuyers (like Zillow) creates a perfect opportunity timing for a strong quick offer.
Our recommended offer is $285,000
We believe that after this weekend the seller will drop the price (since it has been on the market for 25+ days) which will invite more offers and competition.
If possible, and to help support a $285k offer – make it a cash offer. Cash offer DOESN'T keep it all cash – it means buying cash and refinancing after closing.
Email/text for address, analysis and to get connected to Simply Do It's local team that handles this transaction.
|Financial Analysis / Deal Attractiveness|
|Net Cash Flow||$20,553||$49,164|
|Average Cash Flow/Year||$4,111||$4,916|
|Average Cash Flow/Month||$343||$410|
|Projected Property Value||$360,129||$438,152|
|Schools Rating (on scale of 0-10)||B|
|Suggested offer (options)||$285,000|
|Market Value (after improvements)||$296,000|
|Down Payment (%)||25%|
|Down Payment Amount||$71,250|
|Mortgage Term (Years)||30|
|Monthly Mortgage Payment||$948|
|Cash Outlay (Total Out of Pocket)||$84,750|
|Property Tax Rate (Approx.)||2.29%||$5,517|
|Property Management Fee||$100||$1,200|
|Total Fixed Expenses||$835||$10,021|
|Total Expenses (Fixed + Mortgage)||$1,783||$21,397|
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