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PROPERTY INFO
FACTS
- Single Family
- Built In 2007
- Price/Sqft : $91.34
- 2 Days on Market
- MLS # : 36505158
- Updated Date : 12/19/2020 at 09:07
CONSTRUCTION
- Beds : 4
- Floor Size : 2,900 sqft
- Baths : 2 full , 1 half
Listing Agent
Offerpad Brokerage, Llc
Listing Agent's Description
VACANT! Beautiful 4 bedroom, 2.5 bath home on a corner lot with 2 car attached garage. NEW interior paint, NEW luxury vinyl plank flooring in the living room, dining and office nook. NEW carpet throughout the upstairs and master bedroom. Completely new HVCA system. Open layout with a split floor plan with master on ground floor. All spare bedrooms upstairs. Large 20 foot ceilings at foyer, living room and breakfast nook. Kitchen features granite countertops and ample cabinet space for storage. Kitchen also features new stainless steel appliances including gas range, microwave and dishwasher. Spacious master bedroom with large walk-in closet. The master bathroom offers tile flooring, large bathtub, separate glass/tile shower, large vanity with dual sinks and private water closet. The upstairs has a very large game room for entertaining and gaming. Close to schools and shopping. Grand parkway only minutes away.
SEE MORE
- 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)
- Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)
PRICE & RENT TRENDS
Zip Code: 77375
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Zip Code: 77375
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,090 |
| EXPENSES | Loan Payment | -$977 |
| Property Tax | -$673 | |
| Property Insurance | -$218 | |
| HOA | -$40 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$83
|
||
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.
$264,900
PROJECTED PRICE
$2,090
PROJECTED RENT
0.79%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$75,949
LOAN DETAILS
$977
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $66,225 |
| Loan Amount | $198,675 |
3
YEARS SAVED
$7,658
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,090
LIST RENT -
$0.72
LIST RENT PER SQFT
-
$2,371
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
8826 Headstall Drive Tomball, TX 2
- 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,900 Sqft ∙ Built 2007
- Rent
- Rent Per SQFT
- $2,090
- $0.72
-
8715 Headstall Drive Tomball, TX 1
- 3 beds 3 baths ∙ 2,729 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,729 Sqft ∙ Built 2007
LEASED 09/01/20- Rent
- Rent Per SQFT
- $1,750
- $0.64
-
62 Sawbridge Circle The Woodlands, TX 3
- 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,824 Sqft ∙ Built 2012
LEASED 08/21/20- Rent
- Rent Per SQFT
- $2,300
- $0.81
-
8634 Sweet Pasture Drive Tomball, TX 4
- 4 beds 4 baths ∙ 2,838 Sqft ∙ Built 2012 4 beds 4 baths ∙ 2,838 Sqft ∙ Built 2012
LEASED 09/21/20- Rent
- Rent Per SQFT
- $2,400
- $0.85
-
122 Pioneer Canyon Place Tomball, TX 5
- 5 beds 4 baths ∙ 2,884 Sqft ∙ Built 2016 5 beds 4 baths ∙ 2,884 Sqft ∙ Built 2016
LEASED 03/14/20- Rent
- Rent Per SQFT
- $2,800
- $0.97
PROPERTY LISTING DETAILS
1.281.957.8192
Offerpad Brokerage, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 36505158
Last Updated: 12/19/2020
