Houston Area Market Snapshot: What you can buy for $65,000


I’ve been working this past year with numerous real estate investors, both in and outside of the Houston area. Most the real estate investors I work with have only been to Houston 2-3 times, but know the market here is thriving for buying real estate.

According to NAR statistics, Houston is ranked as one of the best places to find value in real estate in the country. Although values have not significantly dropped in markets such as Phoenix, or Los Angeles, there is still considerable investment opportunity in the Houston market.

Many real estate investors are finding their way to the Houston area from forums such as BiggerPockets.com, or Flip This House Houston (which they are currently shooting in the Heights area), or other methods drawing them here.

Some agents will tell you that “house flipping” does not exist in this market. I beg to differ, and you’ll see why. It might not be the best market for house flipping in Houston, but I have seen areas where it is happening. I will go over the parts of town that investors are currently capitalizing on, and my thoughts on the next “up and coming” area of Houston in my next blog post.

So, is the Houston area real estate market bad right now? I would say no. Based on a study done by Trulia, real estate sales in Houston have increased by 7.6% from 2010 to 2011.

We’re going to call this blog post: Houston Market Area Snapshot: What you can buy for $65,000. All of these deals are taken from the MLS, and are currently active on the market. These deals were taken randomly, and not selected for best / worst condition.

If the Days On Market has an astrict next to the number, then it means the house has been listed more than once. If the price has an astrict next to the number, then it means the price has been adjusted (most likely reduced).

Also be noted: some After Repair Values are less than list price. This reflects sold comps on each house, and the comps came in lower than list price, sometimes significantly lower. If the ARV could not be determined by comps, then I pulled Harris County Tax Appraisal District records and gave tax assessed value for ARV, which is noted.

Take this info and use it however it can help you. Notice the significance in the year built of the home. If I was buying a house to fix / flip or to rent out, I would pay close attention to the year built, due to maintenance issues.

North/Spring area:

24122 SPRING MILL LN, SPRING, TX 77373
List price: $65,000* / Days on market: 89 / After Repair Value: $84,000
Price Per Sq Ft: $35.91
Rental rate: $1,100
3 bed, 2.5 bath, 2 car attached garage
1,810 sq. ft
Year built: 1979

Northeast:

11306 MOONLIGHT RIDGE LN, HUMBLE, TX 77396
List price: $65,000 / Days on market: 254* / After Repair Value: $60,000
Price Per Sq Ft: $45.01
3 bed, 2 bath, 2 car attached garage
1,444 sq. ft
Year built: 2004

Northwest:

2522 COPPER VALLEY CT, HOUSTON, TX 77067
List price: $65,000 / Days on market: 17* / After Repair Value: $66,000
Price Per Sq Ft: $45.14
Rental rate: $1,050
3 bed, 2 bath, 2 car attached garage
1,440 sq. ft
Year built: 1979

East:

4202 ARAPAJO ST, BAYTOWN, TX 77521
List price: $59,999* / Days on market: 104* / After Repair Value: $85,000
Price Per Sq Ft: $35.38
Rental rate: $1,300
3 bed, 2 bath, 2 car attached garage
1,696 sq. ft
Year built: 1983

South East:

10906 NEWTON ST, HARRIS, TX 77075
List price: $65,000 / Days on market: 14 / After Repair Value: $80,324
Price Per Sq Ft: $34.74
Rental rate: $N/A
3 bed, 2 bath, no garage
1,871 sq. ft
Year built: 1958

South:

5207 BALKIN ST, HOUSTON, TX 77021
List price: $65,000* / Days on market: 135 / After Repair Value: $80,000
Price Per Sq Ft: $41.94
Rental rate: $850
3 bed, 2 bath, 1 car attached garage
1,550 sq. ft
Year built: 1949

Katy:

19627 BUCKLAND PARK DR, KATY, TX 77449
List price: $65,000 / Days on market: 16 / After Repair Value: $85,000
Price Per Sq Ft: $38.28
Rental rate: $1,175
3 bed, 2 bath, 2 car attached garage
1,698 sq. ft
Year built: 2006

Cy-Fair:

10318 AUTUMN MEADOW LN, HOUSTON, TX 77064
List price: $64,500 / Days on market: 14* / After Repair Value: $84,500
Price Per Sq Ft: $54.66
Rental rate: $1,150
3 bed, 2 bath, 2 car attached garage
1,180 sq. ft
Year built: 1980

Bellaire:

6439 IVYKNOLL DR, HOUSTON, TX 77035
List price: $59,900 / Days on market: 86 / After Repair Value: $95,000
Price Per Sq Ft: $41.28
Rental rate: $1,000
3 bed, 2 bath, 2 car attached garage
1,451 sq. ft
Year built: 1978

Clear Lake:

716 NUGENT ST, LA PORTE, TX 77571
List price: $65,000 / Days on market: 13* / After Repair Value: $25,000
Price Per Sq Ft: $70.27
Rental rate: $825
3 bed, 1 bath, no garage
925 sq. ft
Year built: 1955

Pasadena:

2012 LOCKLAINE DR, PASADENA, TX 77502
List price: $65,000* / Days on market: 146 / After Repair Value: $103,910 (tax)
Price Per Sq Ft: $29.76
Rental rate: $N/A
3 bed, 2 bath, 1 car detached garage
2,184 sq. ft
Year built: 1956

Are you a Houston area real estate investor? Are you looking to invest in the Houston real estate market? Leave feedback/comments on my blog and let me know what part of town you like to invest in.

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About redannyday
Danny Day is a local Houstonian who has worked in many different areas of real estate. He blogs about real estate investing, trends, and data that relate to micro and macro markets in the United States, and Houston.

2 Responses to Houston Area Market Snapshot: What you can buy for $65,000

  1. John Coffey says:

    Hi Danny – I couldn’t find an email address for you so am posting my message as a comment. I work with a Houston foreclosure lawyer and am interested in cross-marketing with realtors, particularly the idea of blog articles that discuss your view of the market and my clients legal perspective. Why? Its good for your readers, free content for your blog, shows you in a great light, and costs nothing. Please drop me a line if you’d like to discuss further. Best – John

  2. Anthony Dennis says:

    Hello, my name is Anthony, great article. I am a new to the real estate world but I have been educating myself lentlessly on the buy, rehab, resell process. I grew up in the Humble, TX area and right now live in Spring, TX, so I feel very comfortable starting out investing in Humble/Spring/Kingwood area. I appreciatie any expertise you have on those areas. Thank you very much for your time, and continued success to you!

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