Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more
REQUEST INFO
SCHEDULE APPOINTMENT
It's free, with no obligation
PROPERTY INFO
FACTS
- Single Family
- Built In 2003
- Price/Sqft : $74.48
- 2 Days on Market
- MLS # : 64999112
- Updated Date : 03/13/2021 at 17:01
CONSTRUCTION
- Beds : 5
- Floor Size : 2,618 sqft
- Baths : 2 full , 1 half
Listing Agent
Re/max Signature
Listing Agent's Description
Great Opportunity to make this your custom home. Home was completely dried out and remediated from busted pipes during the freeze and will need to be put back together to your liking. Don’t miss out on this 4/5 bedroom home with 2.5 baths, Open living to family room, secondary bedroom down or study, whatever you wish to fit your style of living. Home is located on a cul-de-sac lot. Nice storage building in back for yard tool.
SEE MORE
- 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
Neighborhood: Creekside Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Creekside Place
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,930 |
| EXPENSES | Loan Payment | -$677 |
| Property Tax | -$546 | |
| Property Insurance | -$199 | |
| HOA | -$42 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$366
|
||
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.
$195,000
PROJECTED PRICE
$1,930
PROJECTED RENT
0.99%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$57,425
LOAN DETAILS
$677
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $48,750 |
| Loan Amount | $146,250 |
9.58
YEARS SAVED
$27,286
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,930
LIST RENT -
$0.74
LIST RENT PER SQFT
-
$2,068
COMP ESTIMATED VALUE -
$0.79
COMP AVG. RENT PER SQFT
Comps Range
-
22914 Palomino Creek Court Tomball, TX 1
- 5 beds 3 baths ∙ 2,618 Sqft ∙ Built 2003 5 beds 3 baths ∙ 2,618 Sqft ∙ Built 2003
- Rent
- Rent Per SQFT
- $1,930
- $0.74
-
8819 Willow Wilde Drive Tomball, TX 2
- 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,749 Sqft ∙ Built 2003
LEASED 12/16/20- Rent
- Rent Per SQFT
- $1,950
- $0.71
-
23723 Lucas Creek Drive Spring, TX 3
- 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,518 Sqft ∙ Built 2014
LEASED 07/31/20- Rent
- Rent Per SQFT
- $1,960
- $0.78
-
7002 Edwanna Lane Spring, TX 4
- 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,488 Sqft ∙ Built 2015
LEASED 05/08/20- Rent
- Rent Per SQFT
- $1,995
- $0.80
-
23707 Bernshausen Drive Spring, TX 5
- 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,537 Sqft ∙ Built 2014
LEASED 05/09/20- Rent
- Rent Per SQFT
- $2,200
- $0.87
PROPERTY LISTING DETAILS
1.713.907.4233
Re/max Signature
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 64999112
Last Updated: 03/13/2021
