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

2334 Webster Ranch Road Friendswood, TX 77546

3 Beds 2 Baths 1,608 sqft Built 1981

$209,900

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $130.53
  • 3 Days on Market
  • MLS # : 31850967
  • Updated Date : 11/13/2020 at 20:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,608 sqft
  • Baths : 2 full
Listing Agent

Re/max Space Center-clear Lake

Listing Agent's Description

Great Location for this 3/2/2 in Friendswood. Close to Hwy 45, and the Baybrook Mall. Walking distance to the Elementary and Middle Schools. Quiet dead end street. A/C condenser replaced in 2020, water heater in 2019, and roof in 2014 with 30 year shingles. Large open den with laminate flooring, high ceilings and a bricked corner fireplace. Nice sized back yard with shade trees.

SEE MORE

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: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Heritage Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10102091

* 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
Landolt Elementary School Primary Regular 905 54 8
Westbrook Intermediate School Middle Magnet 1,069 61 10
Clear Brook High School High Regular 2,335 153 7

Landolt Elementary School

  • Education Level: Primary
  • # of students: 905
  • # of teachers: 54
8
GreatSchools Rating

Westbrook Intermediate School

  • Education Level: Middle
  • # of students: 1,069
  • # of teachers: 61
10
GreatSchools Rating

Clear Brook High School

  • Education Level: High
  • # of students: 2,335
  • # of teachers: 153
7
GreatSchools Rating
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$774
Property Tax -$426
Property Insurance -$136
HOA -$21
Property Management Fees -$99
CASH FLOW
$193

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.

$209,900

PROJECTED PRICE

$1,650

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 7.4%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$774

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$18,685

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,648

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6504$1,6755$1,700
$1,700
RENT COMPS ANALYSIS
  • 2334 Webster Ranch Road Friendswood, TX 3
    • 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,608 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.03
    •  
  • 2406 Pilgrims Bend Drive Drive Friendswood, TX 1
    • 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,517 Sqft ∙ Built 1981
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.99
    •  
  • 17055 Coachmaker Drive Friendswood, TX 2
    • 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,491 Sqft ∙ Built 1980
    property image
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.07
    •  
  • 2503 Kings Chapel Road Friendswood, TX 4
    • 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,730 Sqft ∙ Built 1982
    property image
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $0.97
    •  
  • 2506 Colonial Ridge Drive Friendswood, TX 5
    • 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,589 Sqft ∙ Built 1979
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.07
    •  
PROPERTY LISTING DETAILS
David Leboy
1.281.204.1053
Re/max Space Center-clear Lake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31850967
Last Updated: 11/13/2020
BESbswy