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1511 Mimosa Road Road Missouri City, TX 77489

3 Beds 2 Baths 1,531 sqft Built 1983

$170,000

List Price

$1,410

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 23, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $111.04
  • 2 Days on Market
  • MLS # : 13740756
  • Updated Date : 01/23/2021 at 14:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,531 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Location. Location. Location! Beautiful cozy home in the Fort Bend school district with remodeled bathrooms and gorgeous tile floors will please all! Very well taken care of exterior and interior surfaces. Backyard features an outdoor shed and large gate for rear access to alleyway. Quiet, Cozy and Private community adds to the benefits. Excellent central location to HWY 90, Fort Bend Tollway and Sam Houston Tollway.

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

Neighborhood: Hunters Park

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $64k274k

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

Neighborhood: Hunters Park

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8661788

* 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
E A. Jones Elementary School Primary Regular 616 48 3
Missouri City Middle School Middle Regular 1,116 79 3
Marshall High School High Regular 1,242 93 2

E A. Jones Elementary School

  • Education Level: Primary
  • # of students: 616
  • # of teachers: 48
3
GreatSchools Rating

Missouri City Middle School

  • Education Level: Middle
  • # of students: 1,116
  • # of teachers: 79
3
GreatSchools Rating

Marshall High School

  • Education Level: High
  • # of students: 1,242
  • # of teachers: 93
2
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,269$1,551$1,410

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,410
EXPENSES Loan Payment -$590
Property Tax -$336
Property Insurance -$116
HOA -$31
Property Management Fees -$99
CASH FLOW
$238

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.

$170,000

PROJECTED PRICE

$1,410

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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

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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

8.92

YEARS SAVED

$20,838

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,410

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $1,435

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4103$1,4494$1,5255$1,600
$1,600
RENT COMPS ANALYSIS
  • 1511 Mimosa Road Road Missouri City, TX 2
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,410
    • $0.92
    •  
  • 1211 Twining Oaks Lane Missouri City, TX 1
    • 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,457 Sqft ∙ Built 1976
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.96
    •  
  • 1414 Live Oak Court Missouri City, TX 3
    • 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,531 Sqft ∙ Built 1982
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.95
    •  
  • 1407 Kenforest Drive Missouri City, TX 4
    • 4 beds 4 baths ∙ 1,680 Sqft ∙ Built 1977 4 beds 4 baths ∙ 1,680 Sqft ∙ Built 1977
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.91
    •  
  • 1621 Crestmont Drive Stafford, TX 5
    • 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1963 4 beds 2 baths ∙ 1,712 Sqft ∙ Built 1963
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
PROPERTY LISTING DETAILS
Federico Gutierrez
1.956.605.4875
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13740756
Last Updated: 01/23/2021
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