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$120,000

For Sale - Active
2121 Fountain View Dr Unit 22, Houston, TX 77057
1 Bed
0 Baths
660 Square Feet
0.00 Acres Lot
Built in 1968
For Sale - Active
Units n/a
Checked: 20 hours ago
Updated: May 31, 2025 at 03:43AM

Investment Summary


Monthly Cash Flow
-$187
Cap Rate
4.4%
Cash-on-Cash Return
-8.1%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.9%

Property Description


0.00 Acres Lot
Built in 1968
For Sale - Active
Units n/a

Location, Location, Location! Come see this charming, well-maintained 1-bedroom, 1-bath condo in a gated community. Featuring an open floor plan, the spacious living room flows seamlessly into the dining area. Beautiful tile flooring, crown molding, and a large bedroom with a ceiling fan add to the appeal. Enjoy views of the courtyard and inviting swimming pool from your home. The A/C was replaced in 2020, and the unit comes with 1 assigned covered parking space. Monthly maintenance fees cover electric, water, basic cable, and sewer. Conveniently located within walking distance to shopping, dining, and the city bus line. Just minutes from the Galleria and close to major roads including Hwy 69, Hwy 610, I-10, and the West Park Tollway. Schedule your private showing today—this one’s a must-see!

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Location


Property Details


Parking

  • Description: Assigned, ControlledEntrance, Carport
  • Details: Assigned, Carport
  • Garage Spaces: 0
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 1

Bathroom Information

  • # of Baths (Full): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 5
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: Creative Management
  • HOA Fee: $319/monthly

Land Information

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

Lot Information

  • Parcel ID: 1132830000004
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Style: Traditional
  • Year Built: 1968

Tax Information

  • Annual Tax: $1,634

Utilities

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

Location

  • County: Harris

Listing Details


Listed by:
Adel Diaz
REALM Real Estate Professionals - Sugar Land
(832) 971-6448

Source:
Houston Association of REALTORS
MLS#: 48680858
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$187
Cap Rate
4.4%
Cash-on-Cash Return
-8.1%
Debt Coverage Ratio
0.70
Internal Rate of Return (5 years)
-3.9%

Purchase Details

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Purchase price:
$120,000
Amount financed:
-$96,000
Down payment:
$24,000
Closing costs:
$3,600
Rehab costs:
$0
Initial cash invested:
$27,600
Square feet:
660
Cost per square foot:
$182
Monthly rent per square foot:
$1.97

Financing Details

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Loan amount:
$96,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.850%
Principal & interest:
$629
Property tax:
$136
Insurance:
$91
Private mortgage insurance (PMI):
$0
Monthly payment:
$856

Operating Income

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% Rent Monthly Yearly
Gross rent:
$1,300 $15,600
Vacancy loss: (6%)
6% -$78 -$936
Operating income:
$1,222 $14,664

Operating Expenses


% Rent Monthly Yearly
Property taxes: (10%)
10%-$136-$1,634
Insurance: (7%)
7%-$91-$1,092
Property management: (8%)
8%-$104-$1,248
Repairs & maintenance: (5%)
5%-$65-$780
Capital expenditures: (5%)
5%-$65-$780
HOA fees: (25%)
25%-$319-$3,828
Total operating expenses: (60%)
60%-$780-$9,362

Cash Flow


Monthly Yearly
Net operating income:
$442 $5,304
Mortgage payments:
-$629 -$7,548
Cash flow:
$187 $2,244