Who’s ready to travel? Today we’re flying over to Texas: Houston to be exact. As you may know, Hipster has an eye on the Lone Star State in a big way. Both Dallas and Houston are home to strong markets for investors right now. Why? Jobs, stable markets, stable tenants and growth! Houston specifically was ranked by AOL Real Estate as having the #1 healthiest real estate market in the country. Yes – #1! The U.S. Bureau of Labor Statistics rates Houston as #2 for cities with job creation. Wow. Not only that but Forbes actually ranked Houston as the top city to buy a home in the entire country….
Salivating yet? We thought so. Today’s property is incredible. It’s a beautiful home for a very affordable buy-in price. This place comes with all the bells and whistles your future tenants will want – and then some. With a monthly cash-flow set at $753, this is going to go fast. If you’re interested, don’t delay. Reach out to us now. Enjoy!
Single-Family Home
LOCATION: CROSBY, TX.
Built In: 1984 (but fully redeveloped, including: plumbing, electrical, you name it)
Purchase price: $147,000 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 2 bathrooms, 1,584 square feet, 1.5 stories, 2 car garage
INCOME
Monthly rent collected: $1,400
EXPENSES
Monthly expenses (conservatively estimated)
Property taxes: $199
Insurance: $122
Property management fees: $112
Vacancy (7%): $88
Repairs (5%): $70
Total Monthly Expenses- $647
Net Income = Income – Expenses = $753
ADVANCED NUMBERS
Cap Rate = 6.15 %
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
SPECIAL TERMS
- 3 month property maintenance guarantee
If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.
Take the plunge: you won’t regret it!