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11714 Lochberry Court Tomball, TX 77377

4 Beds 3 Baths 2,240 sqft Built 1999

$265,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $118.30
  • 3 Days on Market
  • MLS # : 95041465
  • Updated Date : 02/13/2021 at 01:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,240 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Elite Properties

Listing Agent's Description

PERFECT PROPERTY in fabulous location! Gorgeous 4 Bedroom Family Home with Beautiful Oversized Covered Patio with stamped concrete detail. Tons of Natural Light throughout home. Cul-de-sac street in Award Winning Tomball ISD. No Carpet! Granite Counters in Kitchen with Serving Bar. Formal Dining and Breakfast Room. Established neighborhood with tons of walking trails, tennis courts, parks, and pool. Primary Bedroom is downstairs with en suite bathroom, double sinks, and separate shower/jetted tub. Never Flooded! Make your appointment today to see your new dream home.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Lakewood Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k348k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Lakewood Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722341

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Lakewood Elementary School Primary Regular 770 45 8
Willow Wood Junior High School Middle Regular 1,028 54 9
Tomball Memorial High School High Regular 1,942 103 9

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 45
8
GreatSchools Rating

Willow Wood Junior High School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 54
9
GreatSchools Rating

Tomball Memorial High School

  • Education Level: High
  • # of students: 1,942
  • # of teachers: 103
9
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,818$2,222$2,020

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,020
EXPENSES Loan Payment -$920
Property Tax -$587
Property Insurance -$175
HOA -$49
Property Management Fees -$99
CASH FLOW
$190

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.

$265,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.2%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

5.17

YEARS SAVED

$14,451

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $2,020

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,010

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$2,0003$2,0204$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 11714 Lochberry Court Tomball, TX 3
    • 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,240 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.90
    •  
  • 11619 Cedarvale Lane Tomball, TX 1
    • 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,300 Sqft ∙ Built 2001
    LEASED 05/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.78
    •  
  • 11802 Chateau Trail Tomball, TX 2
    • 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 1995 3 beds 2 baths ∙ 2,256 Sqft ∙ Built 1995
    LEASED 05/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 11919 Lakewood Trail Tomball, TX 4
    • 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 2000
    LEASED 11/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.97
    •  
  • 11738 Briar Canyon Court Tomball, TX 5
    • 3 beds 3 baths ∙ 2,415 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,415 Sqft ∙ Built 2014
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.95
    •  
PROPERTY LISTING DETAILS
Rhonda Soto
1.713.299.9371
Re/max Elite Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95041465
Last Updated: 02/13/2021
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