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1306 Village Garden Drive Missouri City, TX 77459

4 Beds 3 Baths 2,982 sqft Built 1990

$265,000

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1990
  • Price/Sqft : $88.87
  • 2 Days on Market
  • MLS # : 85297737
  • Updated Date : 01/16/2021 at 18:54
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,982 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

This home, located on a large cul-de-sac lot, is perfect for families! Home features 2 living areas (including a large family room / den upstairs, formal dining room, plus a large breakfast area adjoining the kitchen. Wood floors and tile throughout the home - no carpet! The primary bedroom, located downstairs, features an ensuite bath with dual sinks, large tub, and standalone shower. 3 secondary bedrooms are located upstairs. Large 3-car garage with a long driveway for plenty of parking. Schedule a tour today!

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: Lexington Point

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Lexington Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Lexington Creek Elementary School Primary Regular 550 37 8
Dulles Middle School Middle Regular 1,294 65 8
Dulles High School High Regular 2,189 117 8

Lexington Creek Elementary School

  • Education Level: Primary
  • # of students: 550
  • # of teachers: 37
8
GreatSchools Rating

Dulles Middle School

  • Education Level: Middle
  • # of students: 1,294
  • # of teachers: 65
8
GreatSchools Rating

Dulles High School

  • Education Level: High
  • # of students: 2,189
  • # of teachers: 117
8
GreatSchools Rating
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$920
Property Tax -$639
Property Insurance -$199
HOA -$40
Property Management Fees -$99
CASH FLOW
$322

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.

$265,000

PROJECTED PRICE

$2,220

PROJECTED RENT

0.84%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$23,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $2,222

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2003$2,2004$2,2205$2,300
$2,300
RENT COMPS ANALYSIS
  • 1306 Village Garden Drive Missouri City, TX 4
    • 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 1990 4 beds 3 baths ∙ 2,982 Sqft ∙ Built 1990
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.74
    •  
  • 1322 Village Garden Drive Missouri City, TX 1
    • 3 beds 3 baths ∙ 2,982 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,982 Sqft ∙ Built 1990
    property image
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.70
    •  
  • 1916 Lake Winds Drive Missouri City, TX 2
    • 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,908 Sqft ∙ Built 1996
    property image
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.76
    •  
  • 1911 Hickory Hill Court Sugar Land, TX 3
    • 4 beds 4 baths ∙ 2,817 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,817 Sqft ∙ Built 1994
    property image
    LEASED 12/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.78
    •  
  • 1838 Northshore Drive Missouri City, TX 5
    • 4 beds 4 baths ∙ 3,123 Sqft ∙ Built 1998 4 beds 4 baths ∙ 3,123 Sqft ∙ Built 1998
    property image
    LEASED 06/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jon Caballero
1.281.639.0246
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 85297737
Last Updated: 01/16/2021
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