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12226 Claresholm Drive Tomball, TX 77377

3 Beds 3 Baths 1,574 sqft Built 1994

$190,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $120.71
  • 4 Days on Market
  • MLS # : 56586394
  • Updated Date : 11/12/2020 at 12:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,574 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lucky Realty

Listing Agent's Description

Don't miss out on this 2-story home in the quiet community of Westbourne. The property boasts 3 bedrooms and 2.5 bathrooms. The home features numerous upgrades such as laminate flooring throughout the upstairs and tile downstairs. The home layout is perfect for entertaining guests. Enjoy relaxing days in the backyard with 2 patios, and sun setter (12' x 8'). The home also includes a storage shed, sprinkler system, and security camera system. Tomball ISD schools are within walking distance. Area amenities include 3 community parks, a swimming pool, tennis courts, and basketball courts. Ideal for commuters with close proximity to SH 249 and the Grand Parkway. Located just minutes from shopping, dining, and entertainment at Vintage Park and Willowbrook mall. Schedule your showing today!

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
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$701
Property Tax -$435
Property Insurance -$131
HOA -$29
Property Management Fees -$99
CASH FLOW
$205

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.

$190,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.84%

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

6.67

YEARS SAVED

$18,241

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $1.02

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $1.01

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5953$1,6004$1,6505$1,750
$1,750
RENT COMPS ANALYSIS
  • 12226 Claresholm Drive Tomball, TX 3
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1994 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.02
    •  
  • 12322 Westwold Drive Tomball, TX 1
    • 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,485 Sqft ∙ Built 1998
    LEASED 11/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.01
    •  
  • 12030 Westwold Drive Tomball, TX 2
    • 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,673 Sqft ∙ Built 1997
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 12147 Bowsman Drive Tomball, TX 4
    • 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,566 Sqft ∙ Built 1994
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.05
    •  
  • 18226 Almonte Lane Tomball, TX 5
    • 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,704 Sqft ∙ Built 2000
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.03
    •  
PROPERTY LISTING DETAILS
John Vu
1.281.827.0481
Lucky Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56586394
Last Updated: 11/12/2020
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