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18311 Shadow Grove Lane Crosby, TX 77532

3 Beds 2 Baths 2,614 sqft Built 1988

$229,900

List Price

$1,920

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

November 11, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $87.95
  • 5 Days on Market
  • MLS # : 88166812
  • Updated Date : 11/11/2020 at 11:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,614 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Southern Homes

Listing Agent's Description

Gorgouse 3 bedroom 2 bath home tucked away in Lake Shadows stayed high and dry during Harvey and Imelda. Home is a street away from Lake Houston, and has wood look tile throughout large open living area, granit counter tops, and tiled shower. The open floor plan is perfect for entertaining and has a great screened in porch for relaxing. The garage is ready to be a man cave or she shed, it is insulated with cabinet built ins and the home has a electric converter so it is generator ready!

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: Lake Shadows

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $89k233k

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

Neighborhood: Lake Shadows

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8591700

* 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
 

$206,910$252,890$229,900

PURCHASE PRICE

$1,728$2,112$1,920

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,920
EXPENSES Loan Payment -$848
Property Tax -$582
Property Insurance -$204
HOA -$3
Property Management Fees -$99
CASH FLOW
$184

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.

$229,900

PROJECTED PRICE

$1,920

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.5%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,674

INVESTMENT

$66,674

Down Payment
$57,475
Rehab Estimate
$5,750
Closing Costs
$3,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$848

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,475
Loan Amount $172,425
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$16,561

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,920

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,170

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,9203$2,605
$2,605
RENT COMPS ANALYSIS
  • 18311 Shadow Grove Lane Crosby, TX 2
    • 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 1988 3 beds 2 baths ∙ 2,614 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,920
    • $0.73
    •  
  • 14018 Seagler Springs Lane Houston, TX 1
    • 3 beds 2 baths ∙ 2,273 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,273 Sqft ∙ Built 2006
    LEASED 01/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 15918 Cedar Shores Lane Houston, TX 3
    • 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,851 Sqft ∙ Built 2006
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,605
    • $0.91
    •  
PROPERTY LISTING DETAILS
Sarah Saunders
1.281.433.0136
Coldwell Banker Southern Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 88166812
Last Updated: 11/11/2020
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