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12515 Hammersmith Drive Tomball, TX 77377

4 Beds 3 Baths 2,737 sqft Built 1995

$290,000

List Price

$2,020

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $105.96
  • 2 Days on Market
  • MLS # : 7571462
  • Updated Date : 01/23/2021 at 08:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,737 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

Beautiful traditional home in desired Lakewood Forest subdivision is a must see! Home interior has been recently painted. Oversized kitchen with island, has an open concept with plenty of countertops and cabinets. Second floor Primary suite has a large walk-in closet, dual vanities, garden tub and walk-in shower. Recent updates include: Dishwasher, Microwave, Light Fixtures, A/C Furnace, Pool Pump. Extend the entertaining to the outside patio and relax by the pool, patio spacious enough for all your outdoor furniture. Enjoy your privacy as homes backs up to the green belt with access to the walking trail. Easy access to Vintage Park, Grand Parkway, Beltway 8.

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: Lakewood Forest West

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Lakewood Forest West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722113

* 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
 

$261,000$319,000$290,000

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 -$1,007
Property Tax -$628
Property Insurance -$207
HOA -$53
Property Management Fees -$99
CASH FLOW
$26

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.

$290,000

PROJECTED PRICE

$2,020

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.1%
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$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,600

INVESTMENT

$82,600

Down Payment
$72,500
Rehab Estimate
$5,750
Closing Costs
$4,350

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,500
Loan Amount $217,500
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,898

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
  • $0.74

    LIST RENT PER SQFT
  • $2,019

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$1,9753$2,0004$2,0205$2,075
$2,075
RENT COMPS ANALYSIS
  • 12515 Hammersmith Drive Tomball, TX 4
    • 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 1995 4 beds 3 baths ∙ 2,737 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,020
    • $0.74
    •  
  • 12119 Auburn Hills Drive Tomball, TX 1
    • 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,902 Sqft ∙ Built 1983
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.68
    •  
  • 14619 Forest Lodge Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,712 Sqft ∙ Built 1983
    property image
    LEASED 04/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.73
    •  
  • 14906 N Eldridge Parkway Houston, TX 3
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 1980
    property image
    LEASED 11/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 16319 Willowpark Drive Tomball, TX 5
    • 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1989
    property image
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
PROPERTY LISTING DETAILS
Kelley Banks
1.713.686.5454
Berkshire Hathaway Homeservice
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7571462
Last Updated: 01/23/2021
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