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18007 Sea Glass Way Crosby, TX 77532

4 Beds 3 Baths 2,236 sqft Built 2018

$249,990

List Price

$1,880

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $111.80
  • 53 Days on Market
  • MLS # : 8722562
  • Updated Date : 01/08/2021 at 11:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,236 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Platinum

Listing Agent's Description

This gorgeous home in the idyllic community of Newport Court is exactly what you’ve been searching for. Boasting an open living room, dining room, study nook, and a covered patio in the spacious backyard, this 4-bedroom, 3-bathroom property is perfect for you. Dream up culinary masterpieces in the stunning island kitchen, equipped with granite countertops, a tile backsplash, gas range, breakfast bar, and pendant lighting. Feel the stress melt away as you relax in the spa-like primary suite, complete with a walk-in closet, dual vanities, a tub, and separate shower. Community comforts include playgrounds and splash pad! Located near U.S. 90, residents enjoy easy access to Dayton, the Houston Ship Channel, and Humble. Spend a nice day relaxing along the shores of Lake Houston. Schools are zoned to Crosby ISD. Don’t miss this home – call today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $89k222k

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

Neighborhood: Newport

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8591677

* 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
Newport Elementary School Primary Regular 683 48 7
Crosby Middle School Middle Regular 809 50 6
Crosby Middle School High Regular 809 50 6

Newport Elementary School

  • Education Level: Primary
  • # of students: 683
  • # of teachers: 48
7
GreatSchools Rating

Crosby Middle School

  • Education Level: Middle
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating

Crosby Middle School

  • Education Level: High
  • # of students: 809
  • # of teachers: 50
6
GreatSchools Rating
 

$224,991$274,989$249,990

PURCHASE PRICE

$1,692$2,068$1,880

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,880
EXPENSES Loan Payment -$868
Property Tax -$598
Property Insurance -$178
HOA -$54
Property Management Fees -$99
CASH FLOW
$83

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.

$249,990

PROJECTED PRICE

$1,880

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.4%
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

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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,997

INVESTMENT

$71,997

Down Payment
$62,498
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,498
Loan Amount $187,493
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$7,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,880

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,828

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,7003$1,7754$1,8005$1,880
$1,880
RENT COMPS ANALYSIS
  • 18007 Sea Glass Way Crosby, TX 5
    • 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,236 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $1,880
    • $0.84
    •  
  • 17603 Jolly Boat Drive Crosby, TX 1
    • 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,904 Sqft ∙ Built 2003
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
  • 702 Neap Court Crosby, TX 2
    • 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003 4 beds 2 baths ∙ 2,098 Sqft ∙ Built 2003
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 17310 Morning Star Avenue Crosby, TX 3
    • 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,058 Sqft ∙ Built 2003
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.86
    •  
  • 330 Harbor Mist Drive Crosby, TX 4
    • 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,230 Sqft ∙ Built 2004
    LEASED 07/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.281.861.4624
Keller Williams Platinum
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 8722562
Last Updated: 01/08/2021
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