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16830 Selder Drive Friendswood, TX 77546

3 Beds 2 Baths 1,517 sqft Built 1981

$225,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $148.32
  • 4 Days on Market
  • MLS # : 83576446
  • Updated Date : 01/23/2021 at 14:45
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,517 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

1-story home on a larger lot than the rest of the neighborhood! Move-in ready! Updated wood-look laminate floors throughout the house. Open kitchen plan with a serving bar that opens to the spacious living room. Brick façade fireplace with gas connections. Located in the highly-sought-out community of Heritage Park with easy access to I-45. This home is ready for new owners - Schedule your showing today!

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
Landolt Elementary School Primary Regular 905 54 8
Westbrook Intermediate School Middle Magnet 1,069 61 10
Clear Brook High School High Regular 2,335 153 7

Landolt Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 54
8
GreatSchools Rating

Westbrook Intermediate School

  • Education Level: Middle
  • # of students: 1,069
  • # of teachers: 61
10
GreatSchools Rating

Clear Brook High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$782
Property Tax -$457
Property Insurance -$130
HOA -$18
Property Management Fees -$99
CASH FLOW
$36

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.

$225,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.68%

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

PROJECTED ANNUAL CASH FLOW

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

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

3

YEARS SAVED

$5,345

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,517

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,5753$1,6004$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 16830 Selder Drive Friendswood, TX 1
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.00
    •  
  • 2542 Bisontine Street Friendswood, TX 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 1983
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.97
    •  
  • 2023 Pilgrims Point Drive Friendswood, TX 3
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1981
    LEASED 08/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 1915 Pilgrims Point Drive Friendswood, TX 4
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.00
    •  
  • 2435 Bisontine Street Friendswood, TX 5
    • 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,600 Sqft ∙ Built 1982
    LEASED 06/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
PROPERTY LISTING DETAILS
Ozzie Ramirez
1.281.968.8444
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83576446
Last Updated: 01/23/2021
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