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$1,049,000

For Sale - Active
2915 Mid Ln, Houston, TX 77027
3 Beds
0 Baths
3,254 Square Feet
0.00 Acres Lot
Built in 2001
For Sale - Active
Units n/a
Checked: 14 hours ago
Updated: Jun 16, 2025 at 03:15AM

Investment Summary


Monthly Cash Flow
-$1,981
Cap Rate
3.4%
Cash-on-Cash Return
-9.9%
Debt Coverage Ratio
0.60
Internal Rate of Return (5 years)
-5.5%

Property Description


0.00 Acres Lot
Built in 2001
For Sale - Active
Units n/a

Welcome to 2915 Mid Lane! This recently renovated and gated home with a pretty front and side yard is ideally situated on a corner lot in the Highland Village area. The home features first floor living with a lovely entry that peers down the hall into the quartz & Carrara kitchen and breakfast area with a wall of windows, stainless steel appliances, and flows into the large living and dining rooms. The primary suite features a Juliet balcony, tall tray ceilings, and recently remodeled bathroom with white Carrara marble, bath & shower, and two walk in closets. The two secondary bedrooms on second floor enjoy en-suite bathrooms. Third floor with full bath & new hardwoods has multiple uses- fourth bedroom, media room, home office, or home gym. Elevator closet to all 3 floors. Thank you for virtually touring 2915 Mid Lane, and please make an appointment to tour this beautiful home in person!

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Location


Property Details


Parking

  • Description: Attached, ControlledEntrance, Garage, GarageDoorOpener
  • Details: Garage Door Opener, Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 4
  • # of Baths (Partial): 1
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 3
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Stucco
  • Foundation: Slab
  • Roof Material: Composition

HOA

  • Has HOA: Yes
  • Association: King Properties
  • HOA Fee: $3,750/annually

Land Information

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

Lot Information

  • Parcel ID: 1218350010001
  • Lot Size: 0 sqft

Property Information

  • Property Type: Townhouse
  • Style: Traditional
  • Year Built: 2001

Tax Information

  • Annual Tax: $17,585

Utilities

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

Location

  • County: Harris

Listing Details


Listed by:
Kiki Wilson
Martha Turner Sotheby's International Realty
(713) 443-7056

Source:
Houston Association of REALTORS
MLS#: 73773775
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$1,981
Cap Rate
3.4%
Cash-on-Cash Return
-9.9%
Debt Coverage Ratio
0.60
Internal Rate of Return (5 years)
-5.5%

Purchase Details

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Purchase price:
$1,049,000
Amount financed:
-$839,200
Down payment:
$209,800
Closing costs:
$31,470
Rehab costs:
$0
Initial cash invested:
$241,270
Square feet:
3,254
Cost per square foot:
$322
Monthly rent per square foot:
$2.12

Financing Details

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Loan amount:
$839,200
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$4,964
Property tax:
$1,465
Insurance:
$483
Private mortgage insurance (PMI):
$0
Monthly payment:
$6,912

Operating Income

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% Rent Monthly Yearly
Gross rent:
$6,900 $82,800
Vacancy loss: (6%)
6% -$414 -$4,968
Operating income:
$6,486 $77,832

Operating Expenses


% Rent Monthly Yearly
Property taxes: (21%)
21%-$1,465-$17,585
Insurance: (7%)
7%-$483-$5,796
Property management: (8%)
8%-$552-$6,624
Repairs & maintenance: (5%)
5%-$345-$4,140
Capital expenditures: (5%)
5%-$345-$4,140
HOA fees: (5%)
5%-$313-$3,756
Total operating expenses: (51%)
51%-$3,503-$42,041

Cash Flow


Monthly Yearly
Net operating income:
$2,983 $35,796
Mortgage payments:
-$4,964 -$59,568
Cash flow:
$1,981 $23,772