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18322 Hillingdon Lane Tomball, TX 77377

4 Beds 3 Baths 2,008 sqft Built 2013

$245,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2013
  • Price/Sqft : $122.01
  • 4 Days on Market
  • MLS # : 18708536
  • Updated Date : 10/31/2020 at 22:29
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,008 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

BEAUTIFUL TWO STORY HOME IN AN EXLUSIVE SUBDIVISION. OPEN FLOOR PLAN TO THE KITCHEN AND DINING AREA! FENCE IN BACK YARD WITH A TWO CAR GARAGE! ALL KITCHEN APPLIANCES INCLUDED. SUBDIVISION IS DIRECTLY ACROSS FROM TWO EXEMPLARY RATED SCHOOLS. ALL UPGRADES INCLUDED IN THIS HOME. NEW CARPETS AND NEW PAINT. *** Include Refrigerator, Freezer, Dryer and washer ***

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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

Zip Code: 77377

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77377

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722130

* 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
Northpointe Intermediate School Primary Regular 1,012 58 9
Northpointe Intermediate School Middle Regular 1,012 58 9
Tomball Memorial High School High Regular 1,942 103 9

Northpointe Intermediate School

  • Education Level: Primary
  • # of students: 1,012
  • # of teachers: 58
9
GreatSchools Rating

Northpointe Intermediate School

  • Education Level: Middle
  • # of students: 1,012
  • # of teachers: 58
9
GreatSchools Rating

Tomball Memorial High School

  • Education Level: High
  • # of students: 1,942
  • # of teachers: 103
9
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$904
Property Tax -$561
Property Insurance -$159
Property Management Fees -$99
CASH FLOW
$57

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.

$245,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$7,662

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,772

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,720
1$1,7202$1,7803$1,7904$1,8005$1,825
$1,825
RENT COMPS ANALYSIS
  • 18322 Hillingdon Lane Tomball, TX 2
    • 4 beds 3 baths ∙ 2,008 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,008 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.89
    •  
  • 12207 Claresholm Drive Tomball, TX 1
    • 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 3
    • 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
    •  
  • 18223 Lundar Lane Tomball, TX 4
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 1998
    LEASED 08/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.92
    •  
  • 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
Dilruk Hetti Arachchige Don
1.936.249.7841
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 18708536
Last Updated: 10/31/2020
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