10003 Valley Lake Dr

Houston, TX 77078
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3 bd, 2 ba | 1,238 sqft | Built in 2007

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List Price
$174,900

Initial Investment

$53,374

Purchase Price

$174,900

Down Payment

25%

Rent

$1,285

Total Return

$31,164

Annualized Return

8.9%

Cap Rate

4.1%

Gross Yield

8.8%

Cash Flow

-$2,930

Appreciation

5.4%
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Features

Occupancy

Occupied

Lease Start

11/19/2018

Lease End

11/30/2022

Lot Size

6,600

HOA

None

Flood Risk

Not Required

  • Steady current market appreciation
  • Rental upside: currently below market rent
  • Seller is working on repairing the below items from inspection report making this an ideal property for a new or seasoned investor:
(1) Roofing: Damaged shingles noted at the rear over the exterior door. Cave in noted at the right side near vent pipe, per inspector. Raised flashing observed as well. Recommend evaluation and repairs by a qualified roofer
(2) Garage: Evidence of fire/heat damage in the garage. Recommend evaluation of damage and the cause of it and any necessary repairs including microbial remediation by a qualified professional
(3) Kitchen: Drain slow in the kitchen due to a possible clog at the disposal. Recommend evaluation and repairs by a qualified plumber
(4) Bedroom One: Windowpane damaged and out of place. Recommend evaluation and repairs by a qualified professional
(5) Reinspection Bedroom Two: Inaccessible due to tenant sleeping. Recommend reinspection
(6) Bathrooms: Bathroom two’s toilet was very loose at the floor and had evidence of water damage. Recommend evaluation and repairs by a qualified professional
(7) Plumbing: Water heater damaged from what appears to be fire/heat in garage. The flue was also not secured. Recommend evaluation and repairs or a replacement if deemed necessary by a qualified plumber

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Annual Financial Highlights

Expected Rent

$14,649

Expenses

-$4,071

Property Taxes

-$4,000

Loan Payments

-$9,508

Net Cash Flow

-$2,930

See more in Financials

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