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$249,000

For Sale - Active
1510 Michael St, El Campo, TX 77437
3 Beds
2 Baths
1,664 Square Feet
0.00 Acres Lot
Built in 1956
For Sale - Active
Units n/a
Checked: 16 hours ago
Updated: Apr 25, 2025 at 03:00AM

Investment Summary


Monthly Cash Flow
-$299
Cap Rate
4.9%
Cash-on-Cash Return
-6.3%
Debt Coverage Ratio
0.77
Internal Rate of Return (5 years)
-2.1%

Property Description


0.00 Acres Lot
Built in 1956
For Sale - Active
Units n/a

Welcome to 1510 Michael St.! This beautifully maintained 3-bedroom, 2-bath home sits on a generous 1/2-acre lot shaded by mature trees, offering both comfort and serenity. Inside, the spacious kitchen boasts quartz countertops, custom shaker cabinets, and an open layout that flows seamlessly into the large dining area—perfect for gatherings. The expansive living room provides plenty of space to relax or entertain. The primary bedroom features a private en suite with a tiled shower, a vanity, and a walk-in closet, while the additional bedrooms are larger than average. Pride of ownership shines throughout this charming home!

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Location


Property Details


Parking

  • Description: AttachedCarport, AdditionalParking, None, WorkshopInGarage
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 2
  • # of Baths (Total): 2.0

Interior Features

  • # of Rooms: 7
  • # of Stories: 1

Exterior Features

  • Foundation: Slab
  • Roof Material: Composition, Shingle

Land Information

  • Land Use: Residential
  • Land Use Subtype: Single Family Residential

Lot Information

  • Parcel ID: 21619
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Traditional
  • Year Built: 1956

Tax Information

  • Annual Tax: $4,420

Utilities

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

Location

  • County: Wharton

Listing Details


Listed by:
Justin A Guyer
RE/MAX Professionals
(979) 543-7006

Source:
Central Texas MLS (CTXMLS)
MLS#: 562192
Central Texas MLS (CTXMLS)

Investment Summary


Monthly Cash Flow
-$299
Cap Rate
4.9%
Cash-on-Cash Return
-6.3%
Debt Coverage Ratio
0.77
Internal Rate of Return (5 years)
-2.1%

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:
1,664
Cost per square foot:
$150
Monthly rent per square foot:
$1.20

Financing Details

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Loan amount:
$199,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.890%
Principal & interest:
$1,311
Property tax:
$368
Insurance:
$140
Private mortgage insurance (PMI):
$0
Monthly payment:
$1,819

Operating Income

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% Rent Monthly Yearly
Gross rent:
$2,000 $24,000
Vacancy loss: (6%)
6% -$120 -$1,440
Operating income:
$1,880 $22,560

Operating Expenses


% Rent Monthly Yearly
Property taxes: (18%)
18%-$368-$4,420
Insurance: (7%)
7%-$140-$1,680
Property management: (8%)
8%-$160-$1,920
Repairs & maintenance: (5%)
5%-$100-$1,200
Capital expenditures: (5%)
5%-$100-$1,200
HOA fees: (n/a)
n/an/an/a
Total operating expenses: (43%)
43%-$868-$10,420

Cash Flow


Monthly Yearly
Net operating income:
$1,012 $12,144
Mortgage payments:
-$1,311 -$15,732
Cash flow:
$299 $3,588