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1707 Crescent Green Drive Houston, TX 77094

4 Beds 2 Baths 2,242 sqft Built 1992

$349,000

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $155.66
  • 3 Days on Market
  • MLS # : 58092144
  • Updated Date : 03/13/2021 at 12:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,242 sqft
  • Baths : 2 full
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Move-in ready 1 story all brick home in Green Trails on a large lot! Beautifully renovated and well maintained with fresh paint and upgrades throughout including Quartz countertops, engineered hardwood floors, custom molding around all doors and windows, extended back patio, driveway gate, and Jenn-Air appliances. A hideaway closet/bookshelf/walk-thru between middle two secondary bedrooms brings something fun and unique to this home! Green Trails is located conveniently to Downtown Houston with miles of hike-and-bike trails, which connect to Terry Hershey Park to the east and George Bush Park to the south. The subdivision contains two recreation centers with swimming pools, tennis courts, and playgrounds, parks and a splash pad. Zoned to highly acclaimed schools in Katy ISD!

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: Green Trails

NeighborhoodNIR Market*CityMarket2010Year20002019100k150k200k250k300k350k400k450k500kPrice in $99k547k

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

Neighborhood: Green Trails

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $9693320

* 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
Nottingham Country Elementary School Primary Regular 592 43 7
Memorial Parkway Junior High School Middle Regular 878 54 8
Taylor High School High Regular 2,943 156 9

Nottingham Country Elementary School

  • Education Level: Primary
  • # of students: 592
  • # of teachers: 43
7
GreatSchools Rating

Memorial Parkway Junior High School

  • Education Level: Middle
  • # of students: 878
  • # of teachers: 54
8
GreatSchools Rating

Taylor High School

  • Education Level: High
  • # of students: 2,943
  • # of teachers: 156
9
GreatSchools Rating
 

$314,100$383,900$349,000

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,212
Property Tax -$719
Property Insurance -$179
HOA -$96
Property Management Fees -$99
CASH FLOW
$56

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 18% of earned rent to cover both maintenance and periods of vacancy.

$349,000

PROJECTED PRICE

$2,360

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.61%
Appreciation Year (1-5) 3.0%
Maintenance Year (1-5) 8.00%
Vacancy 10.23%
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$900k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$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$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$98,235

INVESTMENT

$98,235

Down Payment
$87,250
Rehab Estimate
$5,750
Closing Costs
$5,235

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,212

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $87,250
Loan Amount $261,750
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$5,487

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,063

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,975
1$1,9752$2,0003$2,2004$2,3005$2,360
$2,360
RENT COMPS ANALYSIS
  • 1707 Crescent Green Drive Houston, TX 5
    • 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,242 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $1.05
    •  
  • 1810 Fantasy Woods Drive Houston, TX 1
    • 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,283 Sqft ∙ Built 1994
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.87
    •  
  • 1811 Emerald Green Drive Houston, TX 2
    • 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,288 Sqft ∙ Built 1999
    property image
    LEASED 07/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.87
    •  
  • 1315 Blackthorne Drive Houston, TX 3
    • 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 1991 3 beds 3 baths ∙ 2,396 Sqft ∙ Built 1991
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 19619 Remington Crest Court Houston, TX 4
    • 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 1992 4 beds 2 baths ∙ 2,246 Sqft ∙ Built 1992
    property image
    LEASED 12/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $1.02
    •  
PROPERTY LISTING DETAILS
Jessica Hennessy-lewis
1.281.433.5859
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 #: 58092144
Last Updated: 03/13/2021
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