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PROPERTY INFO
FACTS
- Single Family
- Built In 1989
- Price/Sqft : $103.42
- 6 Days on Market
- MLS # : 70139621
- Updated Date : 12/08/2020 at 11:36
CONSTRUCTION
- Beds : 3
- Floor Size : 2,658 sqft
- Baths : 2 full , 1 half
Listing Agent
Coldwell Banker Realty
Listing Agent's Description
Stately Brick Home with 2 Story Entry in Lakewood Forest with Pool & Spa. Lots of updates including upgraded Double Pane Windows, Exterior Siding, 1 A/C replaced in 2017, Evaporator Coil in 2019 & Nest Thermostat. Water Heater replaced in 2016. Upgraded Crown Molding & Remodeled 1/2 bath. Large Kitchen with Granite Counters Tops, recent Can Lighting, Corner Sink with Window, Gas Cooktop & Double Ovens. Washer, Dryer and Refrigerator will stay. Home features 3 bedrooms and the upstairs Game Room could be converted to a 4th bedroom. The upstairs Game Room is currently used as a Study. The downstairs Formal Living would make for a very spacious Study as well. Large Formal Dining Room, Huge Family Room with Wet Bar/Wine Fridge & built-ins. Very little carpet. Hardwood / slate and tile downstairs. Comes with a 1 Year Home Warranty!
SEE MORE
- 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: Lakewood Forest West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lakewood Forest West
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,020 |
| EXPENSES | Loan Payment | -$1,014 |
| Property Tax | -$595 | |
| Property Insurance | -$202 | |
| HOA | -$54 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$55
|
||
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.
$274,900
PROJECTED PRICE
$2,020
PROJECTED RENT
0.73%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$78,599
LOAN DETAILS
$1,014
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $68,725 |
| Loan Amount | $206,175 |
2.83
YEARS SAVED
$7,548
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 -
$0.76
LIST RENT PER SQFT
-
$2,067
COMP ESTIMATED VALUE -
$0.78
COMP AVG. RENT PER SQFT
Comps Range
-
16411 Willowbank Drive Tomball, TX 4
- 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 1989 3 beds 3 baths ∙ 2,658 Sqft ∙ Built 1989
![property image]()
- Rent
- Rent Per SQFT
- $2,020
- $0.76
-
16426 Avenfield Road Tomball, TX 1
- 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 1993 3 beds 2 baths ∙ 2,341 Sqft ∙ Built 1993
![property image]()
LEASED 11/10/20- Rent
- Rent Per SQFT
- $1,800
- $0.77
-
16411 Avenplace Road Tomball, TX 2
- 4 beds 4 baths ∙ 2,414 Sqft ∙ Built 1991 4 beds 4 baths ∙ 2,414 Sqft ∙ Built 1991
![property image]()
LEASED 04/25/20- Rent
- Rent Per SQFT
- $1,920
- $0.80
-
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
1.281.924.4240
Coldwell Banker Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 70139621
Last Updated: 12/08/2020
