houstonsingleHouston, Texas is a real estate investor’s dream. In 2013, it was voted the best city to buy a home by Forbes and ranked #1 for the healthiest real estate market by AOL Real Estate. Houston is all about jobs, jobs and more jobs. The city is considered the top place for job creation in the country, which means that people are moving there and rentals are needed.

This single family home in the suburbs of Houston is absolutely beautiful and Hipster loves the supplier. The home has 3 bedrooms, 2.5 bathrooms, a 2 car garage, and that’s not all: this great house also comes with a 1 year rental guarantee and a 1 year work warranty….all for 109k! Houston, we most definitely have a lift-off!

Location: Crosby, TX. Single Family Home.

Built In: 1978

Purchase price: $109,000 (not a foreclosure, normal sale)

Property info: 3 bedrooms, 2.5 bathrooms, 2,119 square feet

Income

Monthly rent collected: $1,350

Expenses

Monthly expenses

Property taxes: $261

Insurance: $104

Home Owners Association fees: $40

Property management fees: $122

Monthly expenses (conservatively estimated)

Vacancy (7%): $95

Repairs (5%): $68

Total Monthly Expenses- $689

Net Income = Income – Expenses = $661

 

Advanced Numbers

Cap Rate =

annual net income (non-inclusive of mortgage payment) / purchase price = 7.27%

Cash-on-cash return =

Depends on your leveraging.

If you are interested in this property or seeing others like it, contact Melissa at melissa@hipsterinvestments.com.

 

Comments
  • Elliott
    Reply

    I would love to learn more about properties like this in Houston! Do you recommend any providers that also have properties in San Antonio?

    • Ali
      Reply

      Hi Elliott, no not currently as the prices there aren’t many options for turnkeys in San Antonio and the sellers we’ve seen there so far didn’t impress us enough to want to work with him. Hopefully one day tho!

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