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8122 Rushing Stream Court Tomball, TX 77375

4 Beds 3 Baths 1,956 sqft Built 2004

$185,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $94.58
  • 2 Days on Market
  • MLS # : 85522368
  • Updated Date : 12/05/2020 at 11:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,956 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Welcome home! Located on a cul-de-sac with no rear neighbors! Laminate floors in formal dining and family room. Open kitchen! Spacious laundry room/pantry. Fresh interior paint! Big backyard! 2-car garage. Motivated seller!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$683
Property Tax -$478
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
$285

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.

$185,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.92%

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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$683

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

8.67

YEARS SAVED

$25,688

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,658

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6493$1,6504$1,7005$1,750
$1,750
RENT COMPS ANALYSIS
  • 8122 Rushing Stream Court Tomball, TX 4
    • 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,956 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.87
    •  
  • 8323 Cove Timbers Lane Tomball, TX 1
    • 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,868 Sqft ∙ Built 2004
    property image
    LEASED 12/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 8126 Cove Timbers Lane Tomball, TX 2
    • 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,055 Sqft ∙ Built 2003
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,649
    • $0.80
    •  
  • 22922 Still Pond Drive Tomball, TX 3
    • 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,057 Sqft ∙ Built 2003
    property image
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.80
    •  
  • 22955 Creekside Willow Drive Tomball, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Cheryle Sanderson
1.281.413.9990
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 85522368
Last Updated: 12/05/2020
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