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17119 Cobble Shores Drive Tomball, TX 77377

3 Beds 2 Baths 2,278 sqft Built 2000

$260,000

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $114.14
  • 3 Days on Market
  • MLS # : 31986943
  • Updated Date : 03/06/2021 at 21:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,278 sqft
  • Baths : 2 full
Listing Agent

Jane Byrd Properties Intl.

Listing Agent's Description

Wonderful one story brick home will not last long. Updates throughout. Starting with wood-look tile, paint, and fireplace tile, light fixtures and fans. Great size yard, extended patio and detached garage. A few neighborhood amenities features are walking trails, parks and community pool and more. Perfect location in between Hwy 249 and Hwy 290. Zoned to the Awarded Tomball Independent Schools District.

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: Village Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $113k360k

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

Neighborhood: Village Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000210022002300Rent in $10722312

* 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
Willow Creek Elementary School Primary Regular 902 53 9
Willow Wood Junior High School Middle Regular 1,028 54 9
Tomball Memorial High School High Regular 1,942 103 9

Willow Creek Elementary School

  • Education Level: Primary
  • # of students: 902
  • # of teachers: 53
9
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
 

$234,000$286,000$260,000

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$903
Property Tax -$637
Property Insurance -$177
HOA -$63
Property Management Fees -$99
CASH FLOW
$51

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.

$260,000

PROJECTED PRICE

$1,930

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.7%
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$10k

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$74,650

INVESTMENT

$74,650

Down Payment
$65,000
Rehab Estimate
$5,750
Closing Costs
$3,900

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$903

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,000
Loan Amount $195,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,936

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8754$1,9005$1,930
$1,930
RENT COMPS ANALYSIS
  • 17119 Cobble Shores Drive Tomball, TX 5
    • 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,278 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.85
    •  
  • 12811 Carriage Glen Drive Tomball, TX 1
    • 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,108 Sqft ∙ Built 2003
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.88
    •  
  • 13418 Barons Lake Lane Cypress, TX 2
    • 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,246 Sqft ∙ Built 2007
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 13026 Lily Crest Lane Tomball, TX 3
    • 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2014 4 beds 2 baths ∙ 2,140 Sqft ∙ Built 2014
    LEASED 06/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.88
    •  
  • 14410 Heath Falls Lane Cypress, TX 4
    • 3 beds 2 baths ∙ 2,316 Sqft ∙ Built 2011 3 beds 2 baths ∙ 2,316 Sqft ∙ Built 2011
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
PROPERTY LISTING DETAILS
Amy Yoder
1.281.744.0678
Jane Byrd Properties Intl.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31986943
Last Updated: 03/06/2021
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