This is good buy and hold investment on Houston Texas? 77041

[Liz C.]

Hi everyone , I am thinking about buying a turn key on Houston Texas price about 129k ,rent 1290. After insurance and tax PM , will make $750 a month . Zip code 77041 Anyone local can give me some inside of the location and the market appreciation and if this is s good buy and hold? Thanks!

[Tom Cooper]

@Liz C., 77041 is a pretty good area for rentals. Cy-Fair ISD is generally considered a good school district, but there is some variability from one school to another. I wont attempt to predict market appreciation, but I will say I am buying rentals in similar areas in Houston, but I don't buy turnkey either. Not saying you should or shouldn't, but I like to buy at more of a discount and rehab them, then rent them out. But I will say that there is a very strong rental market in Houston for that price point. If you care to send me the address, I will look at the comps for that area and give you my thoughts. I will say, I see no way that you will make $750 per month with $1290 rent, unless possibly you are paying cash. Make sure you factor in all the costs, including vacancy, property management, CAPEX, etc.