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 that comes with all the bells and whistles your future tenants will want – and then some. With a monthly cash-flow set at $934, this is going to go fast. If you’re interested, don’t delay. Reach out to us now. Enjoy!
LOCATION: SPRING, TX.
Built In: 2005 (and fully renovated)
Purchase price: $182,800 (not a foreclosure, normal sale)
Property info: 3 bedrooms, 2.5 bathrooms, 2,260 square feet, 2 stories, 2 car garage
Monthly rent collected: $1,750
Monthly expenses (conservatively estimated)
Property taxes: $345
Property management fees: $140
Vacancy (7%): $123
Repairs (5%): $88
Total Monthly Expenses- $816
Net Income = Income – Expenses = $934
Cap Rate = 6.13 %
annual net income (non-inclusive of mortgage payment) / purchase price
Cash-on-cash return =
Depends on your leveraging.
- 3 month property maintenance guarantee
If you are interested in this property or seeing others like it, contact Melissa at email@example.com.
Take the plunge: you won’t regret it!