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17715 Memorial Falls Drive Tomball, TX 77375

4 Beds 3 Baths 2,824 sqft Built 2003

$265,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $93.84
  • 5 Days on Market
  • MLS # : 56152847
  • Updated Date : 11/18/2020 at 19:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,824 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Professionals

Listing Agent's Description

This is a beautiful, two-story home located in the Memorial Springs subdivision. Large master bedroom downstairs. The home has been freshly painted. The home features a big patio for outdoor enjoyment. The home also features tile floors, granite countertops, and crown molding. This home is zoned to the Klein Independent school district. Easy access to highway 99, and highway 249. Schedule a visit 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: 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 Regular 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$978
Property Tax -$605
Property Insurance -$213
HOA -$33
Property Management Fees -$99
CASH FLOW
$102

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.

$265,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.77%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$978

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$11,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $2,365

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,2003$2,3504$2,5005$2,500
$2,500
RENT COMPS ANALYSIS
  • 17715 Memorial Falls Drive Tomball, TX 1
    • 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.72
    •  
  • 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
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 1314 Town Moor Court Spring, TX 3
    • 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2000 4 beds 4 baths ∙ 3,000 Sqft ∙ Built 2000
    LEASED 12/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.78
    •  
  • 10023 Edgewood Manor Court Tomball, TX 4
    • 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,681 Sqft ∙ Built 2001
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.93
    •  
  • 1115 Cheddar Ridge Drive Spring, TX 5
    • 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1999
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Luz Maria Jacquez
1.281.444.3900
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56152847
Last Updated: 11/18/2020
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