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21314 Cherry Canyon Lane Tomball, TX 77375

3 Beds 2 Baths 1,418 sqft Built 2004

$179,999

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $126.94
  • 4 Days on Market
  • MLS # : 91304691
  • Updated Date : 01/28/2021 at 13:34
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,418 sqft
  • Baths : 2 full
Listing Agent

Texas Crossway Realty Llc

Listing Agent's Description

Nestled in this wonderful neighborhood is this cozy one story, will be freshly painted, newly renovated 3 bedroom, 2 bath home. Walk-in laundry room to do all your laundry with space and ease. The floor plan flows well making for easy living and enjoyment. Quaint and charming neighborhood which includes a sparkling community pool and a clubhouse along with neighborhood parks within walking distance.

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

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
Bernshausen Elementary School Primary Unknown 770 45 NA
Ulrich Intermediate School Middle Regular 1,118 76 6
Klein Cain High School High Unknown NA

Bernshausen Elementary School

  • Education Level: Primary
  • # of students: 770
  • # of teachers: 45
NA
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
 

$161,999$197,999$179,999

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$625
Property Tax -$378
Property Insurance -$120
HOA -$35
Property Management Fees -$99
CASH FLOW
$72

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.

$179,999

PROJECTED PRICE

$1,330

PROJECTED RENT

0.74%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,450

INVESTMENT

$53,450

Down Payment
$45,000
Rehab Estimate
$5,750
Closing Costs
$2,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$625

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $45,000
Loan Amount $134,999
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$6,174

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,326

    COMP ESTIMATED VALUE
  • $0.93

    COMP AVG. RENT PER SQFT
Comps Range
$1,195
1$1,1952$1,3003$1,3304$1,4415$1,500
$1,500
RENT COMPS ANALYSIS
  • 21314 Cherry Canyon Lane Tomball, TX 3
    • 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $0.94
    •  
  • 21410 Sweet Grass Lane Tomball, TX 1
    • 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2003
    property image
    LEASED 03/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,195
    • $0.93
    •  
  • 21407 Cherry Canyon Lane Tomball, TX 2
    • 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,520 Sqft ∙ Built 2003
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.86
    •  
  • 21331 Berry Ridge Lane Tomball, TX 4
    • 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2006
    property image
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,441
    • $0.95
    •  
  • 21323 Sweet Grass Lane Tomball, TX 5
    • 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,498 Sqft ∙ Built 2004
    property image
    LEASED 08/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.00
    •  
PROPERTY LISTING DETAILS
Janis Gaskamp
1.281.960.4091
Texas Crossway Realty Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91304691
Last Updated: 01/28/2021
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