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23618 Bluewood Trace Tomball, TX 77375

4 Beds 2 Baths 1,818 sqft Built 2019

$225,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 03, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $123.76
  • 5 Days on Market
  • MLS # : 19430835
  • Updated Date : 02/03/2021 at 17:15
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,818 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Fabulous 4 bedroom, 2 bathroom D R Horton home, built in 2019. Open living space throughout, four nice sized bedrooms, living/dining combo, gourmet island kitchen with granite counters and new stainless steel appliances. Master bedroom is secluded away from the secondary bedrooms and features a deep spa tub and a grand walk-in closet! Covered patio, great backyard space, and tankless water heater.

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

Zip Code: 77375

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77375

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10562063

* 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
Mahaffey Elementary Primary Unknown NA
Hofius Intermediate Middle Unknown NA
Klein Oak High School High Regular 3,883 230 7

Mahaffey Elementary

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Hofius Intermediate

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Klein Oak High School

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

$202,500$247,500$225,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$782
Property Tax -$646
Property Insurance -$147
HOA -$33
Property Management Fees -$99
CASH FLOW
$123

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.

$225,000

PROJECTED PRICE

$1,830

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$700k

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$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$7,639

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,804

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7003$1,7904$1,8305$1,850
$1,850
RENT COMPS ANALYSIS
  • 23618 Bluewood Trace Tomball, TX 4
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2019
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $1.01
    •  
  • 23519 Virginia Pine Drive Tomball, TX 1
    • 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,669 Sqft ∙ Built 2012
    property image
    LEASED 01/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 23731 Plantation Pines Lane Tomball, TX 2
    • 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,712 Sqft ∙ Built 2011
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
  • 9802 Southern Bayberry Drive Tomball, TX 3
    • 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,704 Sqft ∙ Built 2018
    property image
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $1.05
    •  
  • 10227 S Pine Ivy Lane Tomball, TX 5
    • 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 2008 4 beds 2 baths ∙ 1,977 Sqft ∙ Built 2008
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.94
    •  
PROPERTY LISTING DETAILS
Karen Sumner
1.281.301.8598
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 19430835
Last Updated: 02/03/2021
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