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PROPERTY INFO
FACTS
- Single Family
- Built In 2011
- Price/Sqft : $94.14
- 5 Days on Market
- MLS # : 72296664
- Updated Date : 01/21/2021 at 16:59
CONSTRUCTION
- Beds : 4
- Floor Size : 2,920 sqft
- Baths : 2 full , 1 half
Listing Agent
Xterra Real Estate
Listing Agent's Description
So pretty 4-5 Bedroom home in MEMORIAL SPRINGS. Walk up to the lovely pillared front porch with separate storm door then glass door inset with Texas Lone Star detail, enter to find art niches and gorgeous tile floors, wood look ceramic plank in public areas and lovely diamond set tiles in wet areas. There's a downstairs bedroom which could serve as study, craft room, nursery, etc. Full bath downstairs too. The kitchen features a breakfast bar and island, along with granite counters, stainless appliances, and dark wood 42 inch cabinets. Huge den with gorgeous hill country limestone corner set fireplace. Walk up the wrought iron spindled stairs to find a spacious gameroom plus four more bedrooms, including the huge Primary bedroom. This home has an oversized backyard, perfect for outdoor play, there's even room for the pool oasis of your dreams. Come see it and make your offer, before it's gone.
SEE MORE
- Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)
- Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
- Houston metro's economy is worth $544.6 billion in Gross Metro Product and projected to grow to $580 billion in 2019 (USMayors.org, 2018)
- Houston metro has 63.4% labor force participation rate higher than the national rate 62.8%. The participation rate is expected to grow to 63.6% in 2020 (USMayors.org, 2018)
PRICE & RENT TRENDS
Zip Code: 77375
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 77375
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,980 |
| EXPENSES | Loan Payment | -$955 |
| Property Tax | -$627 | |
| Property Insurance | -$219 | |
| HOA | -$36 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$44
|
||
This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.
$274,900
PROJECTED PRICE
$1,980
PROJECTED RENT
0.72%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 6.2% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,599
LOAN DETAILS
$955
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
2.5
YEARS SAVED
$5,096
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,980
LIST RENT -
$0.68
LIST RENT PER SQFT
-
$2,088
COMP ESTIMATED VALUE -
$0.72
COMP AVG. RENT PER SQFT
Comps Range
-
10003 Blissfull Valley Lane Tomball, TX 1
- 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,920 Sqft ∙ Built 2011
![property image]()
- Rent
- Rent Per SQFT
- $1,980
- $0.68
-
10022 Spring Rapid Way Tomball, TX 2
- 3 beds 3 baths ∙ 2,931 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,931 Sqft ∙ Built 2005
![property image]()
LEASED 06/01/20- Rent
- Rent Per SQFT
- $2,000
- $0.68
-
18815 Lantern Cove Lane Tomball, TX 3
- 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 2007 4 beds 3 baths ∙ 3,154 Sqft ∙ Built 2007
![property image]()
LEASED 07/31/20- Rent
- Rent Per SQFT
- $2,100
- $0.67
-
17634 Memorial Springs Drive Tomball, TX 4
- 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001
![property image]()
LEASED 04/28/20- Rent
- Rent Per SQFT
- $2,200
- $0.76
-
1115 Bringewood Chase Drive Spring, TX 5
- 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 1998
![property image]()
LEASED 10/01/20- Rent
- Rent Per SQFT
- $2,305
- $0.75
PROPERTY LISTING DETAILS
1.281.787.8461
Xterra Real Estate
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 72296664
Last Updated: 01/21/2021
