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12014 Oakner Drive Tomball, TX 77377

3 Beds 3 Baths 1,505 sqft Built 1994

$179,900

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $119.53
  • 5 Days on Market
  • MLS # : 77363726
  • Updated Date : 11/13/2020 at 16:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,505 sqft
  • Baths : 2 full , 1 half
Listing Agent

The Listing Firm

Listing Agent's Description

Beautifully renovated 3 bedroom 2.5 bath house, ready for your immediate move in! New flooring & fresh paint throughout. New appliances in kitchen. Open living w/ lots of windows! Great size yard w/ no rear neighbors! Easy walk to neighborhood park. This is a must see!

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: 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
 

$161,910$197,890$179,900

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$664
Property Tax -$412
Property Insurance -$126
HOA -$25
Property Management Fees -$99
CASH FLOW
$264

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.

$179,900

PROJECTED PRICE

$1,590

PROJECTED RENT

0.88%

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$700k

PROJECTED ANNUAL CASH FLOW

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

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$53,424

INVESTMENT

$53,424

Down Payment
$44,975
Rehab Estimate
$5,750
Closing Costs
$2,699

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$664

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,975
Loan Amount $134,925
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$24,777

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,584

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,425
1$1,4252$1,4953$1,5904$1,5955$1,625
$1,625
RENT COMPS ANALYSIS
  • 12014 Oakner Drive Tomball, TX 3
    • 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,505 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $1.06
    •  
  • 18135 Beaverdell Drive Tomball, TX 1
    • 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,466 Sqft ∙ Built 1999
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.97
    •  
  • 18207 Beaverdell Drive Tomball, TX 2
    • 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,413 Sqft ∙ Built 1999
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $1.06
    •  
  • 12214 Bowsman Drive Tomball, TX 4
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 1999
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $1.10
    •  
  • 12122 Bowsman Drive Tomball, TX 5
    • 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,505 Sqft ∙ Built 1999
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.08
    •  
PROPERTY LISTING DETAILS
Osaan Ronding
1.281.300.5201
The Listing Firm
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77363726
Last Updated: 11/13/2020
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