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18706 Dovewood Springs Lane Tomball, TX 77375

4 Beds 3 Baths 2,779 sqft Built 2012

$238,000

List Price

$2,030

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $85.64
  • 5 Days on Market
  • MLS # : 46646587
  • Updated Date : 11/20/2020 at 15:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,779 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Olympian Galleria

Listing Agent's Description

Brick and stone elevation w/no backyard neighbors. NO CARPET ON THE FIRST FLOOR. Well maintained home, original owners. Kitchen island features 42'' maple cabinets, granite countertops, undermount sink, Whirlpool stainless appliances & microwave vented to outside. Soaring 2-story celling in the majestic family room offers a wood-burning cast stone fireplace & beautiful view of upstairs loft w/wrought iron spindles. Primary bedroom with tray ceilings and spacious walk-in closet. Primary bath with separate soaking tub + standing shower + double vanity. Upgraded frameless shower enclosure with elegant waterfall showerhead. Covered back patio, fully-sodded backyard with front and back sprinkler system. Energy efficient home with radiant barrier. Low taxes and HOA! **Private showings allowed only after open house on Saturday 11/21/20 1PM - 5PM**

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

Zip Code: 77375

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77375

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10562063

* 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
 

$214,200$261,800$238,000

PURCHASE PRICE

$1,827$2,233$2,030

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,030
EXPENSES Loan Payment -$878
Property Tax -$551
Property Insurance -$210
HOA -$44
Property Management Fees -$99
CASH FLOW
$248

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.

$238,000

PROJECTED PRICE

$2,030

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.2%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$68,820

INVESTMENT

$68,820

Down Payment
$59,500
Rehab Estimate
$5,750
Closing Costs
$3,570

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$878

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,500
Loan Amount $178,500
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$21,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,030

    LIST RENT
  • $0.73

    LIST RENT PER SQFT
  • $2,244

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$2,030
1$2,0302$2,2003$2,2004$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 18706 Dovewood Springs Lane Tomball, TX 1
    • 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,779 Sqft ∙ Built 2012
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,030
    • $0.73
    •  
  • 17634 Memorial Springs Drive Tomball, TX 2
    • 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,880 Sqft ∙ Built 2001
    property image
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 19230 Danphe Landing Court Tomball, TX 3
    • 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,640 Sqft ∙ Built 2007
    property image
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.83
    •  
  • 10015 Memorial Way Drive Tomball, TX 4
    • 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,010 Sqft ∙ Built 2002
    property image
    LEASED 06/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.76
    •  
  • 1115 Cheddar Ridge Drive Spring, TX 5
    • 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,853 Sqft ∙ Built 1999
    property image
    LEASED 06/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
PROPERTY LISTING DETAILS
Banny Lim
1.832.228.1407
Century 21 Olympian Galleria
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 46646587
Last Updated: 11/20/2020
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