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2223 Victoria Court Missouri City, TX 77459

3 Beds 2 Baths 1,547 sqft Built 1980

$178,000

List Price

$1,380

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 1980
  • Price/Sqft : $115.06
  • 3 Days on Market
  • MLS # : 80440576
  • Updated Date : 11/02/2020 at 20:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,547 sqft
  • Baths : 2 full
Listing Agent

Stefanie Shelton Properties

Listing Agent's Description

SPACIOUS HOME ON A QUIET CUL-DE-SAC ZONED TO GREAT SCHOOLS!!! LARGE LIVING AREA WITH COZY FIREPLACE, TILE FLOORS, PLENTY OF WINDOWS FOR NATURAL LIGHT, AND SEPARATE DINING AREA. THE MASTER BEDROOM HAS A DOOR TO THE BACK YARD, VANITY AREA AND PRIVATE BATH, 2 GUEST BEDROOMS AND A 2-CAR ATTACHED GARAGE WITH REMOTE. THE REFRIGERATOR WILL REMAIN, AND THERE ARE WASHER & DRYER CONNECTIONS IN THE GARAGE.

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: Meadowcreek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k274k

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

Neighborhood: Meadowcreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9701788

* 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
Quail Valley Elementary School Primary Regular 565 36 5
Quail Valley Middle School Middle Regular 1,273 59 7
Elkins High School High Regular 2,063 108 8

Quail Valley Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 36
5
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
 

$160,200$195,800$178,000

PURCHASE PRICE

$1,242$1,518$1,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,380
EXPENSES Loan Payment -$657
Property Tax -$388
Property Insurance -$116
HOA -$32
Property Management Fees -$99
CASH FLOW
$88

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.

$178,000

PROJECTED PRICE

$1,380

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.2%
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

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,920

INVESTMENT

$52,920

Down Payment
$44,500
Rehab Estimate
$5,750
Closing Costs
$2,670

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$657

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,500
Loan Amount $133,500
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$9,531

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,380

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,377

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,380
1$1,3802$1,3953$1,4504$1,4505$1,500
$1,500
RENT COMPS ANALYSIS
  • 2223 Victoria Court Missouri City, TX 1
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 1980
    • Rent
    • Rent Per SQFT
    •  
    • $1,380
    • $0.89
    •  
  • 2706 Creekway Circle Missouri City, TX 2
    • 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,623 Sqft ∙ Built 1981
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.86
    •  
  • 2207 Saint James Court Missouri City, TX 3
    • 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,656 Sqft ∙ Built 1976
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 2610 Creekway Circle Missouri City, TX 4
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 1980
    LEASED 10/09/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 2511 Creekway Circle Missouri City, TX 5
    • 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,661 Sqft ∙ Built 1976
    LEASED 07/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Stefanie Shelton
1.713.557.1755
Stefanie Shelton Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80440576
Last Updated: 11/02/2020
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