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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.

$53,450

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+6.2%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.3%
Cash Flow	$864
Value Increase	$11,479

10 YEAR

Cash On Cash	-2.8%
Total Return	10.3%

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.

MARKET HIGHLIGHTS

Houston Market Report

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)

Zip Code: 77375

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

Zip Code: 77375

* 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

GreatSchools Rating

Ulrich Intermediate School

Education Level: Middle
# of students: 1,118
# of teachers: 76

GreatSchools Rating

Klein Cain High School

Education Level: High
# of students:
# of teachers:

GreatSchools Rating

FINANCIALS

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$161,999$197,99900$179,999

PURCHASE PRICE

$1,197$1,46300$1,330

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

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

3.75%

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

1,418
PROPERTY SQFT
$0.93
AVG RENT PER SQFT
$1,326
ESTIMATED VALUE
$1,330
LIST RENT

21314 Cherry Canyon Lane Tomball, TX 5

3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,418 Sqft ∙ Built 2004
Price

Price Per SQFT

$179,999

$126.94
21107 Sweet Blossom Lane Tomball, TX 1

3 beds 2 baths ∙ 1,456 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,456 Sqft ∙ Built 2003
SOLD 09/04/20
Price

Price Per SQFT

$152,400

$104.67
10115 Summerberry Lane Tomball, TX 2

3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,290 Sqft ∙ Built 2003
SOLD 10/23/20
Price

Price Per SQFT

$156,500

$121.32
21118 Cidercreek Lane Tomball, TX 3

3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,515 Sqft ∙ Built 2007
SOLD 01/07/21
Price

Price Per SQFT

$169,800

$112.08
21115 Cidercreek Lane Tomball, TX 4

3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2016 3 beds 3 baths ∙ 1,520 Sqft ∙ Built 2016
SOLD 09/11/20
Price

Price Per SQFT

$172,000

$113.16

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
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
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
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
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
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

21314 Cherry Canyon Lane Tomball, TX 77375

$179,999

$1,330

$53,450

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Bernshausen Elementary School

Ulrich Intermediate School

Klein Cain High School

FINANCIALS

$161,999$197,99900$179,999

$1,197$1,46300$1,330

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$179,999

$1,330

0.74%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$625

3.92

$6,174

$179,999

$126.94

$159,961

$112.81

COMPS RANGE

PRICE COMPS ANALYSIS

$1,330

$0.94

$1,326

$0.93

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS