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22918 Bank Shade Court Tomball, TX 77375

3 Beds 2 Baths 1,750 sqft Built 2003

$200,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $114.29
  • 3 Days on Market
  • MLS # : 43748955
  • Updated Date : 02/12/2021 at 15:11
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,750 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty -sw

Listing Agent's Description

BEAUTIFUL ONE-STORY BRICK HOME in sought-after community of Creekside Place in Tomball, TX! Elegant formal dining & living rooms. HIGH CEILINGS THROUGHOUT HOME! Spacious family room w/open sightlines to fabulous kitchen! Family room fireplace w/tall mantle & custom tile designed hearth. Hot water heater replaced approximately 3 years ago. Kitchen updated in 2019, w/stainless steel appliances, plenty of cabinets & pantry, QUARTZ COUNTERTOPS & custom backsplash. Master bedroom is spacious w/carpeting & elegant crown molding. Master bath pampers w/oversized custom tiled shower & long vanity with double sinks! All guest bedrooms carpeted and large. HVAC system approx. 5 years old! Full-sized guest bathroom has tub/shower combo. ROOF UPDATED in 2019. Lovely backyard patio with stylish pavers! Spacious backyard fully fenced for privacy w/plenty of plush green grassy area. Plenty of room for fun outdoor activities. This gorgeous home must be seen! MAKE AN APPOINTMENT TODAY!

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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

Neighborhood: Creekside Place

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Creekside Place

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10622063

* 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
Schultz Elementary School Primary Regular 923 60 7
Hildebrandt Intermediate School Middle Regular 1,136 69 7
Klein Oak High School High Regular 3,883 230 7

Schultz Elementary School

  • Education Level: Primary
  • # of students: 923
  • # of teachers: 60
7
GreatSchools Rating

Hildebrandt Intermediate School

  • Education Level: Middle
  • # of students: 1,136
  • # of teachers: 69
7
GreatSchools Rating

Klein Oak High School

  • Education Level: High
  • # of students: 3,883
  • # of teachers: 230
7
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$695
Property Tax -$516
Property Insurance -$142
HOA -$35
Property Management Fees -$99
CASH FLOW
$133

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.

$200,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.81%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$8,817

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.93

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,620
1$1,6202$1,7103$1,7504$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 22918 Bank Shade Court Tomball, TX 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.93
    •  
  • 22014 Willow Downs Drive Tomball, TX 2
    • 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,912 Sqft ∙ Built 2002
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.89
    •  
  • 22955 Creekside Willow Drive Tomball, TX 3
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2005
    property image
    LEASED 10/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.94
    •  
  • 8410 Creekside Timbers Drive Tomball, TX 4
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2017
    property image
    LEASED 03/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.00
    •  
  • 18119 Willow Edge Drive Tomball, TX 5
    • 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,897 Sqft ∙ Built 2017
    property image
    LEASED 05/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.03
    •  
PROPERTY LISTING DETAILS
Sahar Khatib
1.832.630.5020
Keller Williams Realty -sw
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 43748955
Last Updated: 02/12/2021
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