Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

17031 Stone Stile Drive Friendswood, TX 77546

3 Beds 2 Baths 1,713 sqft Built 1980

$220,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1980
  • Price/Sqft : $128.43
  • 2 Days on Market
  • MLS # : 13228572
  • Updated Date : 03/13/2021 at 19:05
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,713 sqft
  • Baths : 2 full
Listing Agent

The Horizon Team

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
 

$198,000$242,000$220,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$764
Property Tax -$446
Property Insurance -$143
HOA -$21
Property Management Fees -$99
CASH FLOW
$227

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.

$220,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.77%

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$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

6.83

YEARS SAVED

$18,388

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,696

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6503$1,6954$1,7005$1,700
$1,700
RENT COMPS ANALYSIS
  • 17031 Stone Stile Drive Friendswood, TX 5
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1980
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 2407 Planters Way Friendswood, TX 1
    • 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,713 Sqft ∙ Built 1980
    property image
    LEASED 04/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.88
    •  
  • 2330 Whitman Way Drive Friendswood, TX 2
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1979
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 2115 Heritage Colony Drive Friendswood, TX 3
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 1979
    property image
    LEASED 07/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 17126 Coachmaker Drive Friendswood, TX 4
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 1980
    property image
    LEASED 03/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.03
    •  
PROPERTY LISTING DETAILS
Luis Garza
1.713.498.3197
The Horizon Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13228572
Last Updated: 03/13/2021
BESbswy