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$424,000

For Sale - Active
150 Gessner Rd Unit 6D, Houston, TX 77024
2 Beds
3 Baths
1,865 Square Feet
0.00 Acres Lot
Built in 1983
For Sale - Active
Units n/a
Checked: 10 hours ago
Updated: Aug 23, 2025 at 11:12PM

Investment Summary


Monthly Cash Flow
-$2,757
Cap Rate
-2.1%
Cash-on-Cash Return
-33.9%
Debt Coverage Ratio
-0.37
Internal Rate of Return (5 years)
-28.6%

Property Description


0.00 Acres Lot
Built in 1983
For Sale - Active
Units n/a

Luxury High-Rise living in the heart of Memorial Area. Step into style and comfort at "The Tealstone", this stunning 2 bedrooms, 2.5 bathrooms residence offers spacious living, floor-to-ceiling windows and a spacious balcony with amazing views of South Memorial. The elegant living and dining areas are perfect for entertaining, while the well appointed kitchen includes ample cabinetry. The generous primary suite features 2 walking-in closets with double vanities, soaking tub, and separate shower. Enjoy the convenience of full-service amenities, including concierge, valet parking, pool, exercise room and a building generator for added peace of mind. Located just minutes from dining, shopping and top-rated schools.

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Location


Property Details


Parking

  • Details: Assigned, Valet
  • Garage Spaces: 0
  • Spaces Total: 2

Bedroom Information

  • # of Bedrooms: 2

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Partial): 1
  • # of Baths (Total): 3.0

Interior Features

  • # of Rooms: 5

Exterior Features

  • Exterior Walls Materials: Brick

HOA

  • Has HOA: Yes
  • HOA Fee: $1,865/monthly

Land Information

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

Lot Information

  • Parcel ID: 1161350060004
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 1983

Tax Information

  • Annual Tax: $9,809

Utilities

  • Heating: Electric, Heat Pump
  • Cooling: Electric

Location

  • County: Harris

Listing Details


Listed by:
Carmen Munoz
Keller Williams Realty Metropolitan
(713) 551-1486

Source:
Houston Association of REALTORS
MLS#: 96324848
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$2,757
Cap Rate
-2.1%
Cash-on-Cash Return
-33.9%
Debt Coverage Ratio
-0.37
Internal Rate of Return (5 years)
-28.6%

Purchase Details

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Purchase price:
$424,000
Amount financed:
-$339,200
Down payment:
$84,800
Closing costs:
$12,720
Rehab costs:
$0
Initial cash invested:
$97,520
Square feet:
1,865
Cost per square foot:
$227
Monthly rent per square foot:
$1.50

Financing Details

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Loan amount:
$339,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,007
Property tax:
$817
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,020

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,800 $33,600
Vacancy loss: (6%)
6% -$168 -$2,016
Operating income:
$2,632 $31,584

Operating Expenses


% Rent Monthly Yearly
Property taxes: (29%)
29%-$817-$9,809
Insurance: (7%)
7%-$196-$2,352
Property management: (8%)
8%-$224-$2,688
Repairs & maintenance: (5%)
5%-$140-$1,680
Capital expenditures: (5%)
5%-$140-$1,680
HOA fees: (67%)
67%-$1,865-$22,380
Total operating expenses: (121%)
121%-$3,382-$40,589

Cash Flow


Monthly Yearly
Net operating income:
-$750 -$9,000
Mortgage payments:
-$2,007 -$24,084
Cash flow:
-$2,757 -$33,084