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15618 Ten Oaks Drive Tomball, TX 77377

4 Beds 3 Baths 2,615 sqft Built 1980

$269,000

List Price

$1,950

$1.8K - $2.1K

Rent Est.

PROPERTY INFO

January 22, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $102.87
  • 3 Days on Market
  • MLS # : 72402098
  • Updated Date : 01/22/2021 at 08:36
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,615 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Distinction

Listing Agent's Description

Traditional home ready for your family. This is a 4 bedroom 2.5 baths with a 2 car garage on a cul de sac. Entry open to a vaulted beamed ceiling family room. Lots of light with floor to ceiling windows. Kitchen has tons of cabinets and plenty of space to be enjoyed by several cooks. Sit at breakfast bar. Breakfast room looking out to back yard. Large primary bedroom is downstairs and is big enough to have a reading nook. Three bedrooms upstairs with spacious closets. There is a den centrally located upstairs that could be an school area for the family. Home is close to Lakewood Elementary School. Close to FM 249 and the Vintage Shopping area.

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: Gettysburg

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Gettysburg

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722137

* 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
 

$242,100$295,900$269,000

PURCHASE PRICE

$1,755$2,145$1,950

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,950
EXPENSES Loan Payment -$934
Property Tax -$596
Property Insurance -$199
HOA -$56
Property Management Fees -$99
CASH FLOW
$65

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.

$269,000

PROJECTED PRICE

$1,950

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.2%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$77,035

INVESTMENT

$77,035

Down Payment
$67,250
Rehab Estimate
$5,750
Closing Costs
$4,035

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$934

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,250
Loan Amount $201,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,071

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,950

    LIST RENT
  • $0.75

    LIST RENT PER SQFT
  • $1,948

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9003$1,9504$1,9505$2,075
$2,075
RENT COMPS ANALYSIS
  • 15618 Ten Oaks Drive Tomball, TX 4
    • 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,615 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.75
    •  
  • 14719 Cedar Point Drive Houston, TX 1
    • 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,727 Sqft ∙ Built 1975
    LEASED 04/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.70
    •  
  • 11719 Park Creek Drive Houston, TX 2
    • 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,479 Sqft ∙ Built 1983
    LEASED 11/14/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 12127 Rocky Lake Drive Houston, TX 3
    • 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 1982 4 beds 3 baths ∙ 2,649 Sqft ∙ Built 1982
    LEASED 08/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.74
    •  
  • 16319 Willowpark Drive Tomball, TX 5
    • 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1989 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 1989
    LEASED 05/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,075
    • $0.77
    •  
PROPERTY LISTING DETAILS
Cecilia Whitaker
1.713.898.2788
Re/max Distinction
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 72402098
Last Updated: 01/22/2021
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