19123 Mercant Mark Ln Richmond, TX 77407

This 2009 built, 4 bed / 3.5 bath property in Richmond, TX makes sense for any rental investor, even in today's changing real estate market. Prime location, just outside of Houston!

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Financials:

ARV: $436,000

Purchase Price: $340,000

Profit Details:

$436,000 ARV

(*) 94% for sale commissions

(-) $340,000 purchase price

(-) $10,000 rehab budget

(-) $5,000 closing / holding cost

(=) $59,240 profit

Rental Profit Details:

$2,600 monthly market rents

(-) $477 monthly tax

(-) $110 monthly insurance

(-) $260 property management

(-) $260 allocation for repairs, vacancy, etc

(=) $1,493 net monthly cash flow

Property Details:

4 Beds / 3.5 Bath

2009 Year Build

2,784 Home Square Feet

6,864 Lot Size

June 9th, 2023 Closing

Vacant at Close

Original roof (2009)

Only 1 owner since built

No apparent issues with foundation, roof, electrical, or plumbing

Huge, beautiful property in a great location

Location Details:

Just outside Houston!

The subdivision amenities: An Olympic-sized pool, slides, and a kid-friendly water spray park, the other with a lap pool overlooking the community lake. Additional onsite amenities include a fitness center, media center, clubhouse, walking trails, and sports courts!

Recent Updates:

2023 - New flooring

2022 - New appliances

2020 - New HVAC