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PROPERTY INFO
FACTS
- Single Family
- Built In 2009
- Price/Sqft : $122.86
- 2 Days on Market
- MLS # : 26510867
- Updated Date : 03/06/2021 at 21:01
CONSTRUCTION
- Beds : 3
- Floor Size : 1,750 sqft
- Baths : 2 full
Listing Agent
Integrity Texas Properties
Listing Agent's Description
Great single story home in Memorial Springs. Nice floor plan with Island kitchen, granite counter tops, gas range and plenty of cabinets. Recent interior paint throughout the majority of the house. Open floor plan to the family room with high ceilings , rounded corners throughout and fireplace. Formal dining room or study. Energy Star home. Primary bathroom has separate shower , dual sinks and garden style whirlpool tub. Nice size easily maintained back yard and covered patio. Nice storage shed stays. Great lake with walks and pool in community.
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 | $1,640 |
| EXPENSES | Loan Payment | -$747 |
| Property Tax | -$491 | |
| Property Insurance | -$142 | |
| HOA | -$36 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$125
|
||
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.
$215,000
PROJECTED PRICE
$1,640
PROJECTED RENT
0.76%
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
$62,725
LOAN DETAILS
$747
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $53,750 |
| Loan Amount | $161,250 |
4.5
YEARS SAVED
$9,456
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,640
LIST RENT -
$0.94
LIST RENT PER SQFT
-
$1,645
COMP ESTIMATED VALUE -
$0.94
COMP AVG. RENT PER SQFT
Comps Range
-
10030 Arcadian Springs Lane Tomball, TX 3
- 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2009
- Rent
- Rent Per SQFT
- $1,640
- $0.94
-
10006 Kendahlwood Lane Tomball, TX 1
- 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2010
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,600
- $0.99
-
10007 Kendahlwood Lane Tomball, TX 2
- 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2011
LEASED 01/05/21- Rent
- Rent Per SQFT
- $1,600
- $0.91
-
18530 Melissa Springs Drive Tomball, TX 4
- 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,909 Sqft ∙ Built 2006
LEASED 02/28/21- Rent
- Rent Per SQFT
- $1,675
- $0.88
-
10054 Arcadian Springs Lane Tomball, TX 5
- 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,725 Sqft ∙ Built 2011
LEASED 10/03/20- Rent
- Rent Per SQFT
- $1,685
- $0.98
PROPERTY LISTING DETAILS
Integrity Texas Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 26510867
Last Updated: 03/06/2021
