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15510 Keowee Court Friendswood, TX 77546

3 Beds 2 Baths 1,941 sqft Built 1990

$230,000

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $118.50
  • 2 Days on Market
  • MLS # : 43043570
  • Updated Date : 03/13/2021 at 13:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,941 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Hou Preferred

Listing Agent's Description

Slow your scroll, stop the car! This is the house you have been searching for! A one-story in Friendswood and it's on a cul-de-sac. Fresh new paint and carpet throughout! A HUGE backyard for family gatherings! Fireplace, granite countertops, vaulted ceilings, and much more! You must see this one in person!

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: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10102091

* 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
Wedgewood Elementary School Primary Regular 795 47 6
Brookside Intermediate School Middle Regular 802 51 5
Clear Brook High School High Regular 2,335 153 7

Wedgewood Elementary School

  • Education Level: Primary
  • # of students: 795
  • # of teachers: 47
6
GreatSchools Rating

Brookside Intermediate School

  • Education Level: Middle
  • # of students: 802
  • # of teachers: 51
5
GreatSchools Rating

Clear Brook High School

  • Education Level: High
  • # of students: 2,335
  • # of teachers: 153
7
GreatSchools Rating
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$799
Property Tax -$467
Property Insurance -$158
HOA -$21
Property Management Fees -$99
CASH FLOW
$266

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.

$230,000

PROJECTED PRICE

$1,810

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.4%
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

PROJECTED ANNUAL CASH FLOW

11530$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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.42

YEARS SAVED

$21,824

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,839

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8103$1,8304$1,8505$1,875
$1,875
RENT COMPS ANALYSIS
  • 15510 Keowee Court Friendswood, TX 2
    • 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,941 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.93
    •  
  • 15815 Constitution Lane Friendswood, TX 1
    • 4 beds 2 baths ∙ 1,767 Sqft ∙ Built 1989 4 beds 2 baths ∙ 1,767 Sqft ∙ Built 1989
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.96
    •  
  • 15803 Saint Lawrence Circle Friendswood, TX 3
    • 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1991 3 beds 2 baths ∙ 2,065 Sqft ∙ Built 1991
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.89
    •  
  • 15815 Pilgrim Hall Drive Friendswood, TX 4
    • 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1990 3 beds 2 baths ∙ 1,855 Sqft ∙ Built 1990
    property image
    LEASED 03/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.00
    •  
  • 4910 Stone Harbor Drive Friendswood, TX 5
    • 4 beds 2 baths ∙ 1,986 Sqft ∙ Built 1990 4 beds 2 baths ∙ 1,986 Sqft ∙ Built 1990
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.94
    •  
PROPERTY LISTING DETAILS
April Bradshaw
1.281.299.4152
Keller Williams Hou Preferred
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 43043570
Last Updated: 03/13/2021
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