26323 Richards Rd Spring, TX 77386

This 1994 built, 4 bed / 2.5 bath property in Spring, TX makes sense for any rental investor, even in today's changing real estate market. Prime location, just north of Houston!

Financials:

ARV: $365,000

Purchase Price: $268,000

Profit Details:

$365,000 ARV

(*) 94% for sale commissions

(-) $268,000 purchase price

(-) $10,000 rehab budget

(-) $5,000 closing / holding cost

(=) $60,100 profit

Rental Profit Details:

$2,350 monthly market rents

(-) $451 monthly tax

(-) $110 monthly insurance

(-) $235 property management

(-) $235 allocation for repairs, vacancy, etc

(=) $1,319 net monthly cash flow

Property Details:

4 Beds / 2.5 Bath

1994 Year Build

2,619 Home Square Feet

6,900 Lot Size

May 22nd, 2023 Closing

Occupied at Close, rented at 1300 - well below market rent

Lease expires in September

Roof 2005

New HVAC

New water heater

No apparent issues with foundation, electrical, or plumbing

Huge, beautiful property in a great location

Location Details:

Just outside Houston!

Great location close to dining, shopping, entertainment, medical facilities, I45 and 99.

Recent Updates:

2023 - New HVAC

2020 - New water heater