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22403 Barrell Springs Lane Tomball, TX 77375

4 Beds 3 Baths 2,690 sqft Built 2013

$309,900

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $115.20
  • 5 Days on Market
  • MLS # : 13980336
  • Updated Date : 12/04/2020 at 19:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,690 sqft
  • Baths : 2 full , 1 half
Listing Agent

State 28 Real Estate, Pllc

Listing Agent's Description

Talk about curb appeal! Immaculately maintained Chesmar home in the gated community Estates at Willow Creek. Super-sized lot provides a perfect front yard view of the neighborhood lake, and you will love the privacy of no back neighbors while enjoying your covered back patio. Step inside to find plenty of room(s) for your family and guests. Secluded owner suite downstairs, game room and secondary bedrooms upstairs. Open concept kitchen to living room with extended bar seating. Breakfast room and formal dining (currently flex/study/home office). Plenty of shelving and storage available throughout the home, even tandem workshop space in the garage. Lots of upgrades to see here! Hurry!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: The Estates at Willow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k278k

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

Neighborhood: The Estates at Willow Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900Rent in $10421905

* 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 Regular 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
 

$278,910$340,890$309,900

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,143
Property Tax -$651
Property Insurance -$204
HOA -$63
Property Management Fees -$99
CASH FLOW
$90

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.

$309,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 5.8%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$87,874

INVESTMENT

$87,874

Down Payment
$77,475
Rehab Estimate
$5,750
Closing Costs
$4,649

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,143

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,475
Loan Amount $232,425
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,958

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,280

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,2503$2,2704$2,3505$2,600
$2,600
RENT COMPS ANALYSIS
  • 22403 Barrell Springs Lane Tomball, TX 2
    • 4 beds 3 baths ∙ 2,690 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,690 Sqft ∙ Built 2013
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.84
    •  
  • 23718 Water Hickory Drive Tomball, TX 1
    • 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,406 Sqft ∙ Built 2018
    LEASED 05/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.81
    •  
  • 22811 Banff Brook Way Tomball, TX 3
    • 5 beds 3 baths ∙ 2,686 Sqft ∙ Built 2014 5 beds 3 baths ∙ 2,686 Sqft ∙ Built 2014
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,270
    • $0.85
    •  
  • 20823 Passelande Drive Tomball, TX 4
    • 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,765 Sqft ∙ Built 2015
    LEASED 07/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.85
    •  
  • 9906 Indian Rill Tomball, TX 5
    • 4 beds 4 baths ∙ 2,941 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,941 Sqft ∙ Built 2015
    LEASED 08/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kenna Stephenson
1.713.585.5838
State 28 Real Estate, Pllc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13980336
Last Updated: 12/04/2020
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