13034 Peoria St

Houston, TX 77015
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4 bd, 2 ba | 1,864 sqft | Built in 1953

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List Price
$185,000

Initial Investment

$50,413

Purchase Price

$185,000

Down Payment

25%

Rent

$1,695

Total Return

$95,492

Annualized Return

23.3%

Cap Rate

5.3%

Gross Yield

11.0%

Cash Flow

-$1,046

Appreciation

9.2%
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Features

Occupancy

Occupied

Lease Start

11/01/2021

Lease End

10/31/2022

Lot Size

9,100

HOA

None

Flood Risk

Not Required

  • Rental upside: currently below market rent
  • Steady and attractive five year market appreciation
  • Across the street from Cimarron Elementary
  • Seller is working on repairing the below items from inspection report making this an ideal property for a new or seasoned investor:
(1) Exterior Walls: Vinyl siding and trim torn and pulling away at multiple locations which can allow for water intrusion. Rear deck had wood rot observed along with missing board pieces. Recommend evaluation and repairs to the noted areas by a qualified professional
(2) Structural: Damage and openings at the foundation which can allow for water intrusion. The roof had lifted and damaged shingles and flashing. Damaged rafters observed in the attic. Recommend evaluation and any necessary repairs by a qualified structural engineer
(3) Roofing: Damaged and missing shingles observed as well as raised flashing which call can allow for water intrusion. Recommend evaluation and all necessary repairs by a qualified roofer
(4) Garage: Lifted and missing shingles observed along with damage to the rafters. Wood rot and damage to the soffit and fascia observed on the exterior. Recommend evaluation and repairs by a qualified professional
(5) Bathrooms: Bathroom two’s drain is slow indicating a possible clog in the tub. Recommend evaluation and repairs by a qualified plumber
(6) Attic: Damaged rafters observed in the attic and the flue pipes were found in contact with the sheathing. Recommend evaluation and repairs by a qualified professional
(7) Plumbing: Water heater had evidence of heat damage at the tank. The flue pipe was observed disconnected in the attic and the flue bonnet was not secured to the top of the water heater. Recommend evaluation and any necessary repairs by a qualified plumber

See more in Analysis

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Annual Financial Highlights

Expected Rent

$19,323

Expenses

-$5,687

Property Taxes

-$4,625

Loan Payments

-$10,058

Net Cash Flow

-$1,046

See more in Financials

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