Houston, 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
Monthly rent collected: $1,350
Property taxes: $261
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
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 email@example.com.