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17607 Memorial Falls Drive Tomball, TX 77375

4 Beds 3 Baths 2,889 sqft Built 2006

$289,000

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $100.03
  • 3 Days on Market
  • MLS # : 42580573
  • Updated Date : 02/19/2021 at 11:31
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,889 sqft
  • Baths : 2 full , 1 half
Listing Agent

91 Property Group

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: Memorial Springs

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k309k

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

Neighborhood: Memorial Springs

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10421905

* 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
Blackshear Elementary School Primary Regular 972 59 6
Ulrich Intermediate School Middle Regular 1,118 76 6
Klein Cain High School High Unknown NA

Blackshear Elementary School

  • Education Level: Primary
  • # of students: 972
  • # of teachers: 59
6
GreatSchools Rating

Ulrich Intermediate School

  • Education Level: Middle
  • # of students: 1,118
  • # of teachers: 76
6
GreatSchools Rating

Klein Cain High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$260,100$317,900$289,000

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,004
Property Tax -$660
Property Insurance -$217
HOA -$33
Property Management Fees -$99
CASH FLOW
$237

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.

$289,000

PROJECTED PRICE

$2,250

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$18,989

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,246

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,2504$2,3055$2,495
$2,495
RENT COMPS ANALYSIS
  • 17607 Memorial Falls Drive Tomball, TX 3
    • 4 beds 3 baths ∙ 2,889 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,889 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.78
    •  
  • 10022 Spring Rapid Way Tomball, TX 1
    • 3 beds 3 baths ∙ 2,931 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,931 Sqft ∙ Built 2005
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
  • 17634 Memorial Springs Drive Tomball, TX 2
    • 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 1115 Bringewood Chase Drive Spring, TX 4
    • 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,083 Sqft ∙ Built 1998
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,305
    • $0.75
    •  
  • 9919 Brandywood Circle Tomball, TX 5
    • 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,704 Sqft ∙ Built 2003
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,495
    • $0.92
    •  
PROPERTY LISTING DETAILS
Sarah Powell
1.832.901.5350
91 Property Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 42580573
Last Updated: 02/19/2021
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