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$249,000

For Sale - Active
11315 Main St Unit 1401, Houston, TX 77025
2 Beds
0 Baths
1,504 Square Feet
0.00 Acres Lot
Built in 2009
For Sale - Active
Units n/a
Checked: 13 hours ago
Updated: May 22, 2025 at 08:12AM

Investment Summary


Monthly Cash Flow
-$392
Cap Rate
3.8%
Cash-on-Cash Return
-8.2%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.0%

Property Description


0.00 Acres Lot
Built in 2009
For Sale - Active
Units n/a

This is an updated and immaculate home in the Texas Medical Center area, tucked away from the hustle bustle. The tranquilness of this corner unit with 2 car tandem garage means that you will only have one common wall with a neighbor and there is ample parking on the property for your guests. The updates include fabulous "Blue Pearl" Granite countertops in the kitchen with a gorgeous mosaic tile backsplash, recent stove, recent A/C & complete interior paint. The second floor living area has custom hardwood flooring that is a rare find these days, and the "Open Concept" with large windows will offer an abundance of natural light. The attractive design is modern which makes it very desirable. This home is perfect for employees starting new programs this summer, or anyone working in the Medical Center or Downtown Houston. It is minutes away from the Texas Medical Center and close to a Metro train stop that offers convenient travel. Please call us or your realtor for a private tour today!

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Location


Property Details


Parking

  • Description: Attached, ElectricGate, Garage, GarageDoorOpener, Tandem
  • Details: Garage Door Opener, Off Street, Additional Parking, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 3

Exterior Features

  • Exterior Walls Materials: Brick Veneer
  • Foundation: Slab
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • Association: JDH ASSOCIATION MANAGEMENT
  • HOA Fee: $345/monthly

Land Information

  • Land Use: Residential
  • Land Use Subtype: Condominium Unit

Lot Information

  • Parcel ID: 1309890140001
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Contemporary/Modern
  • Year Built: 2009

Tax Information

  • Annual Tax: $4,645

Utilities

  • Water & Sewer: Public
  • Heating: Electric, Central
  • Cooling: Central Air, Ceiling Fan(s)

Location

  • County: Harris

Listing Details


Listed by:
Phyllis Peak
Berkshire Hathaway HomeServices Premier Properties
(713) 504-8155

Source:
Houston Association of REALTORS
MLS#: 49849307
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$392
Cap Rate
3.8%
Cash-on-Cash Return
-8.2%
Debt Coverage Ratio
0.67
Internal Rate of Return (5 years)
-4.0%

Purchase Details

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Purchase price:
$249,000
Amount financed:
-$199,200
Down payment:
$49,800
Closing costs:
$7,470
Rehab costs:
$0
Initial cash invested:
$57,270
Square feet:
1,504
Cost per square foot:
$166
Monthly rent per square foot:
$1.46

Financing Details

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Loan amount:
$199,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$1,178
Property tax:
$387
Insurance:
$154
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,719

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,200 $26,400
Vacancy loss: (6%)
6% -$132 -$1,584
Operating income:
$2,068 $24,816

Operating Expenses


% Rent Monthly Yearly
Property taxes: (18%)
18%-$387-$4,645
Insurance: (7%)
7%-$154-$1,848
Property management: (8%)
8%-$176-$2,112
Repairs & maintenance: (5%)
5%-$110-$1,320
Capital expenditures: (5%)
5%-$110-$1,320
HOA fees: (16%)
16%-$345-$4,140
Total operating expenses: (58%)
58%-$1,282-$15,385

Cash Flow


Monthly Yearly
Net operating income:
$786 $9,432
Mortgage payments:
-$1,178 -$14,136
Cash flow:
$392 $4,704