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1531 Cartwright Road Missouri City, TX 77489

4 Beds 3 Baths 2,546 sqft Built 2003

$215,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $84.45
  • 4 Days on Market
  • MLS # : 42546673
  • Updated Date : 01/15/2021 at 08:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,546 sqft
  • Baths : 2 full , 1 half
Listing Agent

City Group

Listing Agent's Description

Location! Location! Location! Get your offers ready! 4 bedroom home with generous size bedrooms (2,546 sqft) , & large backyard.. Conveniently located near Fort Bend HWY/2234,90 & HWY 6… Contact Your Favorite REALTOR and schedule a private tour.

SEE MORE

MARKET HIGHLIGHTS

  • 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: Quail Green South

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k274k

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

Neighborhood: Quail Green South

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10421788

* 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
Lantern Lane Elementary School Primary Regular 464 35 3
Quail Valley Middle School Middle Regular 1,273 59 7
Elkins High School High Regular 2,063 108 8

Lantern Lane Elementary School

  • Education Level: Primary
  • # of students: 464
  • # of teachers: 35
3
GreatSchools Rating

Quail Valley Middle School

  • Education Level: Middle
  • # of students: 1,273
  • # of teachers: 59
7
GreatSchools Rating

Elkins High School

  • Education Level: High
  • # of students: 2,063
  • # of teachers: 108
8
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$747
Property Tax -$591
Property Insurance -$174
HOA -$33
Property Management Fees -$99
CASH FLOW
$146

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.

$215,000

PROJECTED PRICE

$1,790

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$9,913

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,776

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6953$1,7904$1,7955$1,850
$1,850
RENT COMPS ANALYSIS
  • 1531 Cartwright Road Missouri City, TX 3
    • 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,546 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.70
    •  
  • 1818 Arrowhead Court Missouri City, TX 1
    • 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,210 Sqft ∙ Built 1998
    LEASED 11/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.72
    •  
  • 1907 Tower Bell Lane Missouri City, TX 2
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2005
    LEASED 06/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.65
    •  
  • 2023 Tower Bell Lane Missouri City, TX 4
    • 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,508 Sqft ∙ Built 2005
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.72
    •  
  • 2523 Bedrock Lane Missouri City, TX 5
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2017
    LEASED 06/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.70
    •  
PROPERTY LISTING DETAILS
Claudia Cooper
1.832.207.1083
City Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 42546673
Last Updated: 01/15/2021
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