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16103 Wild Grove Court Tomball, TX 77377

4 Beds 4 Baths 2,978 sqft Built 2001

$349,900

List Price

$2,390

$2.2K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2001
  • Price/Sqft : $117.49
  • 4 Days on Market
  • MLS # : 24369621
  • Updated Date : 03/19/2021 at 10:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,978 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Vintage

Listing Agent's Description

Immaculate 2-story home on corner lot with pool and spa. 2-story open, entry hall welcomes you to this updated and well maintained home. Formal dining to the left and study with French door entry to the right. Gorgeously engineered wood floors throughout the living areas, entry hall and study. Updated kitchen features stacked stone backsplash, granite counters and black appliances. Desk area off the adjoining breakfast area. 2-story den with gas log fireplace with stacked stone surround and wall of windows overlooking the backyard pool area. Master suite down with separate garden tub and shower. Gameroom upstairs with 2 additional full bathrooms and 3 more secondary bedrooms. Upstairs catwalk open to living room and entry hall. This lovely home is move-in ready!

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 Grove

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k348k

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

Neighborhood: Lakewood Grove

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722341

* 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
Lakewood Elementary School Primary Regular 770 45 8
Willow Wood Junior High School Middle Regular 1,028 54 9
Tomball Memorial High School High Regular 1,942 103 9

Lakewood Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 45
8
GreatSchools Rating

Willow Wood Junior High School

  • Education Level: Middle
  • # of students: 1,028
  • # of teachers: 54
9
GreatSchools Rating

Tomball Memorial High School

  • Education Level: High
  • # of students: 1,942
  • # of teachers: 103
9
GreatSchools Rating
 

$314,910$384,890$349,900

PURCHASE PRICE

$2,151$2,629$2,390

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,390
EXPENSES Loan Payment -$1,215
Property Tax -$775
Property Insurance -$223
HOA -$45
Property Management Fees -$99
CASH FLOW
$32

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.

$349,900

PROJECTED PRICE

$2,390

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.2%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$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$98,474

INVESTMENT

$98,474

Down Payment
$87,475
Rehab Estimate
$5,750
Closing Costs
$5,249

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,215

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,475
Loan Amount $262,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,111

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,390

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,420

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,075
1$2,0752$2,3003$2,3904$2,6005$2,750
$2,750
RENT COMPS ANALYSIS
  • 16103 Wild Grove Court Tomball, TX 3
    • 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2001 4 beds 4 baths ∙ 2,978 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,390
    • $0.80
    •  
  • 16319 Willowpark Drive Tomball, TX 1
    • 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
    •  
  • 15818 Maple Falls Court Tomball, TX 2
    • 4 beds 3 baths ∙ 3,099 Sqft ∙ Built 2006 4 beds 3 baths ∙ 3,099 Sqft ∙ Built 2006
    property image
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.74
    •  
  • 11618 Pemford Drive Tomball, TX 4
    • 5 beds 4 baths ∙ 3,144 Sqft ∙ Built 1999 5 beds 4 baths ∙ 3,144 Sqft ∙ Built 1999
    property image
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.83
    •  
  • 16014 Shadow Pass Trail Tomball, TX 5
    • 4 beds 4 baths ∙ 3,021 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,021 Sqft ∙ Built 2001
    property image
    LEASED 02/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.91
    •  
PROPERTY LISTING DETAILS
Herma Hayes
1.281.217.5481
Re/max Vintage
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 24369621
Last Updated: 03/19/2021
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