Houston SFR turnkey analysis
Hi all, I'm currently evaluating a 4/2.5/2 turn key SFR located in the Cy-Fair suburb of Houston. Price is 105K, which looks to be right around market price. Just over 2000 square feet with good school districts, rent estimated at $1300. Local investors, please let me know if you think market value, rent, and expenses are reasonable.
Price: $105,000
Down payment: $26,250
Closing costs: $400
Monthly:
Rent: $1300
Vacancy (8%): $104 (1 year guarantee, but leaving this in anyways)
Taxes: $210
Insurance: $100
Maintenance: $100 (1 year home warranty, but still including)
PM (9%): $117
HOA: $38
Mortgage (30 yr @5.25): $435
CF: $196
Annual NOI: $2352
Cash on cash return: 8.8%
Appreciate any feedback! Thanks, guys!