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PROPERTY INFO
FACTS
- Single Family
- Built In 1984
- Price/Sqft : $100.14
- 3 Days on Market
- MLS # : 74780246
- Updated Date : 12/18/2020 at 16:30
CONSTRUCTION
- Beds : 3
- Floor Size : 2,176 sqft
- Baths : 2 full
Listing Agent
Mih Realty, Llc
Listing Agent's Description
A spacious one and a half story home with 3 bedrooms, 2 bathrooms, and a 2-car attached garage in the quiet community of Lexington Settlement. Wood and laminate throughout the first floor with carpeted game room on the half story. Kitchen equipped with an ample amount of cabinet space, granite countertops, stainless steel appliances, and breakfast bar. Large master bedroom and bath, double vanities, garden tub with shower. Rooms have ceiling fans, high ceilings, lots of natural lighting. Home is ready for its new owners and their own customizations. Zoned to the desired Dulles Elem, Middle and High School. Minutes from major highways, med center, shopping, dining, and entertainment. This home will Not Last Long!!
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
Neighborhood: Lexington Settlement
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lexington Settlement
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,660 |
| EXPENSES | Loan Payment | -$804 |
| Property Tax | -$526 | |
| Property Insurance | -$153 | |
| HOA | -$19 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$60
|
||
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.
$217,900
PROJECTED PRICE
$1,660
PROJECTED RENT
0.76%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$63,494
LOAN DETAILS
$804
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $54,475 |
| Loan Amount | $163,425 |
3.17
YEARS SAVED
$6,715
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,660
LIST RENT -
$0.76
LIST RENT PER SQFT
-
$1,790
COMP ESTIMATED VALUE -
$0.82
COMP AVG. RENT PER SQFT
Comps Range
-
1235 Catskill Drive Missouri City, TX 4
- 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1984 3 beds 2 baths ∙ 2,176 Sqft ∙ Built 1984
- Rent
- Rent Per SQFT
- $1,660
- $0.76
-
1215 Birchstone Drive Missouri City, TX 1
- 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 1984
LEASED 05/27/20- Rent
- Rent Per SQFT
- $1,600
- $0.79
-
1238 Berrystone Trail Missouri City, TX 2
- 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1985
LEASED 05/26/20- Rent
- Rent Per SQFT
- $1,650
- $0.82
-
1231 Berrystone Trail Missouri City, TX 3
- 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,067 Sqft ∙ Built 1986
LEASED 09/25/20- Rent
- Rent Per SQFT
- $1,650
- $0.80
-
1131 Lexington Green Drive Missouri City, TX 5
- 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,226 Sqft ∙ Built 2000
LEASED 06/05/20- Rent
- Rent Per SQFT
- $1,950
- $0.88
PROPERTY LISTING DETAILS
1.713.589.8500
Mih Realty, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 74780246
Last Updated: 12/18/2020
