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11931 Westlock Drive Tomball, TX 77377

3 Beds 2 Baths 1,159 sqft Built 1983

$185,000

List Price

$1,370

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $159.62
  • 2 Days on Market
  • MLS # : 98748790
  • Updated Date : 01/23/2021 at 17:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,159 sqft
  • Baths : 2 full
Listing Agent

Realm Real Estate Professional

Listing Agent's Description

Come see this cute 3 bedroom home. Open concept living area with fireplace for your entertaining family and friends. Within walking distance to schools and parks.. Upgrades are new roof, A/C unit, fresh paint both exterior and interior, new hot water heater and flooring. Home has solar screens for hot summers and a snack bar in the kitchen. This wont last long.

SEE MORE

MARKET HIGHLIGHTS

  • 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

Neighborhood: Westbourne

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $89k305k

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

Neighborhood: Westbourne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8552063

* 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
Northpointe Intermediate School Primary Regular 1,012 58 9
Northpointe Intermediate School Middle Regular 1,012 58 9
Tomball Memorial High School High Regular 1,942 103 9

Northpointe Intermediate School

  • Education Level: Primary
  • # of students: 1,012
  • # of teachers: 58
9
GreatSchools Rating

Northpointe Intermediate School

  • Education Level: Middle
  • # of students: 1,012
  • # of teachers: 58
9
GreatSchools Rating

Tomball Memorial High School

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

$166,500$203,500$185,000

PURCHASE PRICE

$1,233$1,507$1,370

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,370
EXPENSES Loan Payment -$643
Property Tax -$424
Property Insurance -$103
HOA -$29
Property Management Fees -$99
CASH FLOW
$72

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.

$185,000

PROJECTED PRICE

$1,370

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$6,115

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,370

    LIST RENT
  • $1.18

    LIST RENT PER SQFT
  • $1,368

    COMP ESTIMATED VALUE
  • $1.18

    COMP AVG. RENT PER SQFT
Comps Range
$1,350
1$1,3502$1,3703$1,4254$1,4255$1,500
$1,500
RENT COMPS ANALYSIS
  • 11931 Westlock Drive Tomball, TX 2
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,370
    • $1.18
    •  
  • 11918 Westwold Drive Tomball, TX 1
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 1983
    LEASED 07/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $1.16
    •  
  • 11923 Westlock Drive Tomball, TX 3
    • 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,210 Sqft ∙ Built 1983
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.18
    •  
  • 12423 Westlock Drive Tomball, TX 4
    • 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,241 Sqft ∙ Built 1998
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.15
    •  
  • 11835 Oakner Drive Tomball, TX 5
    • 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,215 Sqft ∙ Built 1984
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.23
    •  
PROPERTY LISTING DETAILS
Nancy Schaub
1.281.543.3202
Realm Real Estate Professional
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 98748790
Last Updated: 01/23/2021
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