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$515,000

For Sale - Active
6804 Westview Dr Apt 1407, Houston, TX 77055
3 Beds
2 Baths
1,958 Square Feet
0.00 Acres Lot
Built in 2020
For Sale - Active
Units n/a
Checked: 16 hours ago
Updated: Aug 19, 2025 at 02:49PM

Investment Summary


Monthly Cash Flow
-$1,521
Cap Rate
2.1%
Cash-on-Cash Return
-15.4%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-10.9%

Property Description


0.00 Acres Lot
Built in 2020
For Sale - Active
Units n/a

Stunning condo located in Gatherings at Westview, a 55+ midrise community offering numerous amenities and ideally located in Spring Branch. This spacious 4th floor unit boasts open-concept living, a private balcony, 3 bedrooms, and 2 full baths. The kitchen features quartz countertops, stainless steel appliances, a breakfast bar with pendant lighting above, and a large walk-in pantry. The enclosed formal dining room could also be used as a home office. Serene primary suite complete with a generous walk-in closet, a soaking tub, oversized shower, and soaking tub. A one car garage, attached to the building, is included. Amenities include gated access, a putting green, grilling pavilion, dog park, community lake, and EV charging stations. Enjoy low-maintenance, lock-and-leave living and being just minutes from popular restaurants, shopping, and more.

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Location


Property Details


Parking

  • Description: Attached, Garage
  • Details: Additional Parking
  • Garage Spaces: 0
  • Spaces Total: 1

Bedroom Information

  • # of Bedrooms: 3

Bathroom Information

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

Interior Features

  • # of Rooms: 6
  • # of Stories: 4
  • Fireplace: Yes

Exterior Features

  • Exterior Walls Materials: Concrete Block

HOA

  • Has HOA: Yes
  • Association: TBD
  • HOA Fee: $585/monthly

Land Information

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

Lot Information

  • Parcel ID: 1448820010026
  • Lot Size: 0 sqft

Property Information

  • Property Type: Condominium
  • Year Built: 2020

Tax Information

  • Annual Tax: $10,969

Utilities

  • Heating: Electric
  • Cooling: Electric

Location

  • County: Harris

Listing Details


Listed by:
Jimmy Franklin
eXp Realty LLC
(281) 949-6362

Source:
Houston Association of REALTORS
MLS#: 68146713
Houston Association of REALTORS

Investment Summary


Monthly Cash Flow
-$1,521
Cap Rate
2.1%
Cash-on-Cash Return
-15.4%
Debt Coverage Ratio
0.38
Internal Rate of Return (5 years)
-10.9%

Purchase Details

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Purchase price:
$515,000
Amount financed:
-$412,000
Down payment:
$103,000
Closing costs:
$15,450
Rehab costs:
$0
Initial cash invested:
$118,450
Square feet:
1,958
Cost per square foot:
$263
Monthly rent per square foot:
$1.79

Financing Details

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Loan amount:
$412,000
Loan to value ratio:
80.0%
Loan type:
Amortizing
Term:
30 years
Interest rate:
5.875%
Principal & interest:
$2,437
Property tax:
$914
Insurance:
$245
Private mortgage insurance (PMI):
$0
Monthly payment:
$3,596

Operating Income

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% Rent Monthly Yearly
Gross rent:
$3,500 $42,000
Vacancy loss: (6%)
6% -$210 -$2,520
Operating income:
$3,290 $39,480

Operating Expenses


% Rent Monthly Yearly
Property taxes: (26%)
26%-$914-$10,969
Insurance: (7%)
7%-$245-$2,940
Property management: (8%)
8%-$280-$3,360
Repairs & maintenance: (5%)
5%-$175-$2,100
Capital expenditures: (5%)
5%-$175-$2,100
HOA fees: (17%)
17%-$585-$7,020
Total operating expenses: (68%)
68%-$2,374-$28,489

Cash Flow


Monthly Yearly
Net operating income:
$916 $10,992
Mortgage payments:
-$2,437 -$29,244
Cash flow:
$1,521 $18,252