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18134 Westlock Court Tomball, TX 77377

4 Beds 3 Baths 2,068 sqft Built 1994

$224,990

List Price

$1,710

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $108.80
  • 4 Days on Market
  • MLS # : 82064938
  • Updated Date : 02/06/2021 at 19:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,068 sqft
  • Baths : 2 full , 1 half
Listing Agent

Jla Realty

Listing Agent's Description

Beautiful Upgraded 4/2.5/2 With a Game room two story home with an Open floorplan and High ceilings. Living room has a Fireplace and lots of Natural lighting that opens up to the Dining area and Large kitchen. Kitchen has lovely cabinets, New Granite counter tops and back splash and a wonderful Low Breakfast bar. All NEW Whirlpool Stainless Steal Appliances in the kitchen with a 5 yr warranty. New flooring downstairs in many areas. Large Primary Bedroom downstairs, Double Vanities and HUGE Gorgeous Shower with remarkable flooring along with a walk in closet. Nice size secondary bedrooms and Family Sized Game room. New covered deck and no back neighbors up against your fence. This home is located on a cul de sac street. Some upgrades include: A/C Outside 2016 and inside unit 08/2018. Back yard Deck 05/2018, New Electrical box. No flooding. New Roof Feb 2021! Close to Highway 99 and Hwy 249, Easy access to Beltway 8 and all the stores, movies and shopping.

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: Westbourne

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $89k305k

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

Neighborhood: Westbourne

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8552063

* 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
 

$202,491$247,489$224,990

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$781
Property Tax -$515
Property Insurance -$163
HOA -$29
Property Management Fees -$99
CASH FLOW
$122

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.

$224,990

PROJECTED PRICE

$1,710

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.0%
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-$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$65,372

INVESTMENT

$65,372

Down Payment
$56,248
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$781

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,248
Loan Amount $168,743
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,126

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,685
1$1,6852$1,7103$1,7204$1,7905$1,825
$1,825
RENT COMPS ANALYSIS
  • 18134 Westlock Court Tomball, TX 2
    • 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,068 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.83
    •  
  • 11923 Brantley Haven Drive Tomball, TX 1
    • 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,906 Sqft ∙ Built 2002
    LEASED 06/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,685
    • $0.88
    •  
  • 12207 Claresholm Drive Tomball, TX 3
    • 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1999 3 beds 3 baths ∙ 1,958 Sqft ∙ Built 1999
    LEASED 06/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.88
    •  
  • 18338 Campbellford Drive Tomball, TX 4
    • 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,034 Sqft ∙ Built 1994
    LEASED 04/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.88
    •  
  • 12015 Sun Canyon Court Tomball, TX 5
    • 4 beds 2 baths ∙ 2,156 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,156 Sqft ∙ Built 2004
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.85
    •  
PROPERTY LISTING DETAILS
Diane Rendon Darst
1.281.608.0521
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82064938
Last Updated: 02/06/2021
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