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1838 Green Star Drive Missouri City, TX 77489

4 Beds 2 Baths 1,412 sqft Built 1981

INVESTimate

$155,000

List Price

$1,340

$1,206 - $1,474

Rent Est.

$168,485  ( +8.70%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1981
  • Price/Sqft : $109.77
  • 2 Days on Market
  • MLS # : 13195321
  • Updated Date : 08/25/2020 at 15:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,412 sqft
  • Baths : 2 full
Listing Agent

Compass Re Texas, Llc

Listing Agent's Description

Charming 4 bedroom home on a quiet street with easy access to major thoroughfares (Alt 90 & Beltway 8). Newer laminate floors in the main living areas and newer clean carpet in the bedrooms. Formal dining room located off the family room with an abundance of natural light. Brand new double pane windows throughout. Enjoy a spacious primary suite complete with neutral paint and a ceiling fan. The backyard affords plenty of space for the pups to play or your visions of outdoor entertainment. NEWER ROOF AND HVAC and Not to mention brand NEW ATTIC INSULATION. This home is ready to be moved-in. Schedule your 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: Quail Green West

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260kPrice in $74k274k

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

Neighborhood: Quail Green West

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9031788

* 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
 

$139,500$170,500$155,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$572
Property Tax -$426
Property Insurance -$109
HOA -$25
Property Management Fees -$99
CASH FLOW
$109

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$155,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.86%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.70%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$46,825

INVESTMENT

$46,825

Down Payment
$38,750
Rehab Estimate
$5,750
Closing Costs
$2,325

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$572

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $38,750
Loan Amount $116,250
See What Happens When You Reinvest Cash Flow

5.42

YEARS SAVED

$10,633

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,285

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,300
1$1,3002$1,3253$1,3404$1,4495$1,450
$1,450
RENT COMPS ANALYSIS
  • 1838 Green Star Drive Missouri City, TX 3
    • 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,412 Sqft ∙ Built 1981
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $0.95
    •  
  • 2021 Village Park Drive Missouri City, TX 1
    • 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1986 3 beds 2 baths ∙ 1,469 Sqft ∙ Built 1986
    property image
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.88
    •  
  • 2030 Hickory Glen Drive Drive Missouri City, TX 2
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1985 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 1985
    property image
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.94
    •  
  • 1531 Mimosa Road Missouri City, TX 4
    • 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,599 Sqft ∙ Built 1983
    property image
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,449
    • $0.91
    •  
  • 1431 Fieldstone Drive Missouri City, TX 5
    • 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,601 Sqft ∙ Built 1981
    property image
    LEASED 10/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Remya Lee
1.281.217.9218
Compass Re Texas, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13195321
Last Updated: 08/25/2020
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