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$380,000

For Sale - Active
342 Silver Creek Cir, Richmond, TX 77406
3 Beds
0 Baths
2,889 Square Feet
0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a
Checked: 15 hours ago
Updated: May 13, 2025 at 01:22AM

Investment Summary


Monthly Cash Flow
-$836
Cap Rate
3.6%
Cash-on-Cash Return
-11.5%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-7.1%

Property Description


0.00 Acres Lot
Built in 2006
For Sale - Active
Units n/a

Welcome to River's Edge! This beautiful traditional home boasts a spacious brick porch as you enter. It's open concept is illuminated with modern light fixtures and imperial columns separating the dining and formal living room. The study could be used as a spare room as there is a full bath located around the corner. There is tile through out that will lead you to spacious kitchen and family room. Each bedroom has ample space for you to furnish as you please. The primary flaunts a bay window with double doors separating the bath. A garden soaking tub and full shower are on the way to a generously sized walk-in closet. The oversized laundry room gives plenty of room for storage. The back yard retains a pergola covered patio and plenty of space to complete a garden, however there are already 2 raised beds waiting for some greenery! Playscape will stay with the sale.

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Location


Property Details


Parking

  • Description: Attached, Garage
  • Details: Attached
  • Garage Spaces: 2
  • Spaces Total: 0

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

  • # of Baths (Full): 3
  • # of Baths (Total): 0.0

Interior Features

  • # of Rooms: 8
  • # of Stories: 1
  • Fireplace: Yes

Exterior Features

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

HOA

  • Has HOA: Yes
  • Association: Sterling Association Services
  • HOA Fee: $695/annually

Land Information

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

Lot Information

  • Parcel ID: 6467030010020901
  • Lot Size: 0 sqft

Property Information

  • Property Type: Single Family Residence
  • Style: Ranch
  • Year Built: 2006

Tax Information

  • Annual Tax: $8,717

Utilities

  • Water & Sewer: Public
  • Heating: Central, Natural Gas
  • Cooling: Central Air

Location

  • County: Fort Bend

Listing Details


Listed by:
Edie Apiscopa
Venture Realty, LLC
(832) 232-1634

Source:
Houston Association of REALTORS
MLS#: 23086022
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$836
Cap Rate
3.6%
Cash-on-Cash Return
-11.5%
Debt Coverage Ratio
0.58
Internal Rate of Return (5 years)
-7.1%

Purchase Details

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Purchase price:
$380,000
Amount financed:
-$304,000
Down payment:
$76,000
Closing costs:
$11,400
Rehab costs:
$0
Initial cash invested:
$87,400
Square feet:
2,889
Cost per square foot:
$132
Monthly rent per square foot:
$0.97

Financing Details

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Loan amount:
$304,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
6.810%
Principal & interest:
$1,984
Property tax:
$726
Insurance:
$196
Private mortgage insurance (PMI):
$0
Monthly payment:
$2,906

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: (26%)
26%-$726-$8,717
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: (2%)
2%-$58-$696
Total operating expenses: (53%)
53%-$1,484-$17,813

Cash Flow


Monthly Yearly
Net operating income:
$1,148 $13,776
Mortgage payments:
-$1,984 -$23,808
Cash flow:
$836 $10,032