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2526 Marufo Vega Drive Spring, TX 77386

4 Beds 3 Baths 2,940 sqft Built 2008

$319,990

List Price

$2,540

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2008
  • Price/Sqft : $108.84
  • 35 Days on Market
  • MLS # : 69032558
  • Updated Date : 12/02/2020 at 12:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,940 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

WELCOME HOME to HARMONY!! MASTER PLANNED living & in GATED section. Only minutes to HWY 99 w/ lots of nearby shopping & dining! STUNNING 2 story w/ 4 BEDS, 2.5 BATHS. GOURMET granite ISLAND kitchen w/ 42" cabinetry, gas range, breakfast bar open to family room. Dramatic 2 story family room features gas log fireplace. OWNERS' RETREAT on 1st level w/ wrap around vanity w/ dual sinks, garden tub, shower, & WALK IN CLOSET. UPSTAIRS game room, SPACIOUS secondaries, STUNNING wood floors throughout main living areas - formal dining, formal living, kitchen, breakfast, & primary. CROWN MOLDING, HIGH ceilings, curved archways, 5 SOLAR panels - LOW electric bills, COVERED patio, sprinkler system, & SO MUCH MORE! Residents' enjoy 2 rec centers w/ resort style pools & splash pad, basketball court & tennis courts, walking trails & parks! ZONED to the highly sought after GRAND OAKS HIGH in CONOROE ISD! Don't wait, call today, & make this home yours!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Harmony

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Harmony

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10132063

* 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
Broadway Elementary School Primary Regular 974 55 9
Cox Intermediate School Middle Regular 1,093 60 9
Grand Oaks High School High Unknown NA

Broadway Elementary School

  • Education Level: Primary
  • # of students: 974
  • # of teachers: 55
9
GreatSchools Rating

Cox Intermediate School

  • Education Level: Middle
  • # of students: 1,093
  • # of teachers: 60
9
GreatSchools Rating

Grand Oaks High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$287,991$351,989$319,990

PURCHASE PRICE

$2,286$2,794$2,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,540
EXPENSES Loan Payment -$1,181
Property Tax -$881
Property Insurance -$197
HOA -$83
Property Management Fees -$99
CASH FLOW
$99

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.

$319,990

PROJECTED PRICE

$2,540

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.3%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,547

INVESTMENT

$90,547

Down Payment
$79,998
Rehab Estimate
$5,750
Closing Costs
$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,998
Loan Amount $239,993
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$8,613

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,540

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,565

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,3503$2,4004$2,5405$3,100
$3,100
RENT COMPS ANALYSIS
  • 2526 Marufo Vega Drive Spring, TX 4
    • 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,940 Sqft ∙ Built 2008
    • Rent
    • Rent Per SQFT
    •  
    • $2,540
    • $0.86
    •  
  • 27503 Caradoc Springs Court Spring, TX 1
    • 3 beds 3 baths ∙ 2,839 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,839 Sqft ∙ Built 2008
    LEASED 02/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.79
    •  
  • 1903 Lora Meadows Court Spring, TX 2
    • 3 beds 3 baths ∙ 2,812 Sqft ∙ Built 2010 3 beds 3 baths ∙ 2,812 Sqft ∙ Built 2010
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.84
    •  
  • 27922 Arden Trl Spring, TX 3
    • 4 beds 4 baths ∙ 2,935 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,935 Sqft ∙ Built 2017
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.82
    •  
  • 27907 Coulter Drive Spring, TX 5
    • 4 beds 3 baths ∙ 2,977 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,977 Sqft ∙ Built 2015
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,100
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jeremy Larkin
1.281.339.1800
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69032558
Last Updated: 12/02/2020
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