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23 Handbridge Place Tomball, TX 77375

4 Beds 3 Baths 2,692 sqft Built 2012

$367,000

List Price

$2,450

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $136.33
  • 5 Days on Market
  • MLS # : 81753420
  • Updated Date : 01/20/2021 at 21:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,692 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas United Realty

Listing Agent's Description

Location location location. Walk or bike to shops and restaurants at Creekside Park Village Green, to the movies at Cinepolis Luxury Cinemas, to school and the pond and community park and splash pad. This immaculate and spacious cul-de-sac home features a large patio with a built in grill, a large back yard and an oversized garage. The primary bedroom is downstairs and there is a game room/second living area upstairs with another 3 bedrooms and full bath. *NEVER FLOODED* Available to show beginning Friday, 1/22/2021. Room dimensions are approximate.

SEE MORE

MARKET HIGHLIGHTS

  • 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 Park

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k491k

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

Neighborhood: Creekside Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10723103

* 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
Tomball Intermediate School Primary Regular 715 53 8
Tomball Intermediate School Middle Regular 715 53 8
Tomball High School High Regular 1,624 93 8

Tomball Intermediate School

  • Education Level: Primary
  • # of students: 715
  • # of teachers: 53
8
GreatSchools Rating

Tomball Intermediate School

  • Education Level: Middle
  • # of students: 715
  • # of teachers: 53
8
GreatSchools Rating

Tomball High School

  • Education Level: High
  • # of students: 1,624
  • # of teachers: 93
8
GreatSchools Rating
 

$330,300$403,700$367,000

PURCHASE PRICE

$2,205$2,695$2,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,450
EXPENSES Loan Payment -$1,275
Property Tax -$860
Property Insurance -$204
Property Management Fees -$99
CASH FLOW
$12

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.

$367,000

PROJECTED PRICE

$2,450

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.0%
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$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$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,005

INVESTMENT

$103,005

Down Payment
$91,750
Rehab Estimate
$5,750
Closing Costs
$5,505

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,275

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,750
Loan Amount $275,250
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,771

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,450

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,483

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3503$2,4504$2,5505$2,550
$2,550
RENT COMPS ANALYSIS
  • 23 Handbridge Place Tomball, TX 3
    • 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,692 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.91
    •  
  • 31 Hearthwick Road Tomball, TX 1
    • 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,519 Sqft ∙ Built 2010
    LEASED 10/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
  • 71 S Greenprint Circle Tomball, TX 2
    • 4 beds 4 baths ∙ 2,592 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,592 Sqft ∙ Built 2012
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.91
    •  
  • 15 Inland Prairie Drive The Woodlands, TX 4
    • 3 beds 4 baths ∙ 2,607 Sqft ∙ Built 2014 3 beds 4 baths ∙ 2,607 Sqft ∙ Built 2014
    LEASED 06/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.98
    •  
  • 30 Hearthwick Road The Woodlands, TX 5
    • 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2011 4 beds 3 baths ∙ 2,788 Sqft ∙ Built 2011
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.91
    •  
PROPERTY LISTING DETAILS
Dena Williams
1.281.782.1837
Texas United Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 81753420
Last Updated: 01/20/2021
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