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Houston SFR Built-In Equity Play $219k

5511 Rivertree Ln, Spring

ROI

12.48% IRR

Strategy

Long Term Rental

3 bed 2 bath 1576 sqft built in 1990. Rental comps are dense and support $1900-$2000 per month. Fair Market Value is $260k. Comparable units fill VERY quickly signaling a hot rental market for low vacancy costs. Very good schools rated 9/7/6. HOA $25. Taxes $5659 (Based on $253k tax assessed value, expect them to lower after tax protest). This is a $40k equity position upon close.

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Houston SFR Built-In Equity Play $219k

Listed 10/30/2024

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5511 Rivertree Ln, Spring

Purchase Price:$219,000

Cash Outlay:$59,130

Cashflow:$111/mo

Cap Rate:5.23%

IRR:12.48%

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