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18222 Memorial Falls Drive Tomball, TX 77375

4 Beds 3 Baths 2,750 sqft Built 2004

$269,900

List Price

$2,040

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

December 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $98.15
  • 8 Days on Market
  • MLS # : 6573126
  • Updated Date : 12/23/2020 at 11:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,750 sqft
  • Baths : 2 full , 1 half
Listing Agent

Zuccarello Realty

Listing Agent's Description

Check out this great home in highly sought after Memorial Springs Subdivision in Klein I.S.D. This 2,750 s.f. home features 4 bedrooms, 2.5 baths, 2-car attached garage, office/study w/sliding doors for privacy, kitchen & breakfast open to the den, primary bed & bath down, secondary bedrooms up w/ a spacious game room. This home is nestled on an 8,700 s.f. pool-sized lot, that backs up to Green Belt/Green Space for added privacy. Neighborhood amenities are within walking distance. For those potential buyer's w/ school aged children, the elementary school within 1/2 mile of house and middle/high school students currently catch the bus across the street from the residence. The Houston Real Estate Market is CRAZY, so schedule your showing TODAY !!!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,836$2,244$2,040

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,040
EXPENSES Loan Payment -$996
Property Tax -$616
Property Insurance -$208
HOA -$36
Property Management Fees -$99
CASH FLOW
$85

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.

$269,900

PROJECTED PRICE

$2,040

PROJECTED RENT

0.76%

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$996

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$10,086

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,040

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,994

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,799
1$1,7992$1,8003$2,0004$2,0405$2,200
$2,200
RENT COMPS ANALYSIS
  • 18222 Memorial Falls Drive Tomball, TX 4
    • 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,750 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $2,040
    • $0.74
    •  
  • 18338 Melissa Springs Drive Tomball, TX 1
    • 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,464 Sqft ∙ Built 2005
    LEASED 02/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,799
    • $0.73
    •  
  • 9611 Gold Rush Springs Drive Tomball, TX 2
    • 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2004
    LEASED 06/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.73
    •  
  • 10022 Spring Rapid Way Tomball, TX 3
    • 3 beds 3 baths ∙ 2,931 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,931 Sqft ∙ Built 2005
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.68
    •  
  • 17634 Memorial Springs Drive Tomball, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Robert Zuccarello
1.281.773.7357
Zuccarello Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 6573126
Last Updated: 12/23/2020
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