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2023 Drexel Drive, Houston,...

Compass RE Texas Acquires Single-Family Property In Houston For $4.6M
SOLDSingle Family Residence

Compass RE Texas Acquires Single-Family Property In Houston For $4.6M

2023 Drexel Drive, Houston, TX 77027

$4,595,000

$580/SF

Building Size

7,920 SF

Asset Type

Single Family Residence

Closing

Oct 26, 2020

AI

The single-family property located at 2023 Drexel Drive in Houston has been sold. This transaction was facilitated by Mike Mahlstedt of Compass RE Texas, LLC. The property was listed for $4,595,000 and offers a spacious living area of 7,920 square feet, resulting in a price per square foot of $580.

Summary of transaction details

  • Property Type: Single-Family
  • Transaction Amount: $4,595,000
  • Address: 2023 Drexel Drive, Houston
  • Agent: Mike Mahlstedt - Compass RE Texas, LLC

This successful sale highlights the demand for fine properties in the Houston market. With its impressive living space and attractive price per square foot, the property presented an appealing opportunity for buyers. The involvement of Mike Mahlstedt from Compass RE Texas, LLC reflects the expertise and professionalism of the brokerage in handling such high-value transactions.

Players

Mike Mahlstedt

Compass

Broker

$4.6M

vol

1 deal

Broker

Houston Single Family Residence Market Snapshot

Boundary boundary · Single Family Residence · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

3.45%

Cash-on-Cash

-0.99%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93