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2703 Lake Shore Harbour Drive Missouri City, TX 77459

4 Beds 3 Baths 2,636 sqft Built 2014

$320,000

List Price

$2,260

$2K - $2.5K

Rent Est.

$90,550

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+3.4%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.5%
Cash Flow	$1,752
Value Increase	$11,141

10 YEAR

Cash On Cash	-2.3%
Total Return	8.2%

PROPERTY INFO

February 07, 2021 RECENTLY ADDED

FACTS

Single Family
Built In 2014
Price/Sqft : $121.40
2 Days on Market
MLS # : 22002963
Updated Date : 02/06/2021 at 20:57

CONSTRUCTION

Beds : 4
Floor Size : 2,636 sqft
Baths : 3 full

Listing Agent

Realty Associates

Listing Agent's Description

Must see...Gorgeous and well maintained 4 bedrooms, 3 baths one story home directly across from a lakeview/walking trail formal dining, a wood-burning/gas fireplace. The kitchen has stainless steel appliance, gas stove, walk-in pantry, Also, there is a bonus room that may be used as an game room, formal living or office/study. The spacious master bedroom, bathroom comes with separate shower and bathtub and walk-in closet. Don’t let this get away, come and tour today.

3726 Aldridge Dr

Missouri City, Texas

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MARKET HIGHLIGHTS

Houston Market Report

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)

Neighborhood: Lake Shore Harbour Village

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

Neighborhood: Lake Shore Harbour Village

* 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
Palmer Elementary School	Primary	Regular	590	42	6
Lake Olympia Middle School	Middle	Regular	1,112	71	4
Hightower High School	High	Regular	2,254	134	5

Palmer Elementary School

Education Level: Primary
# of students: 590
# of teachers: 42

GreatSchools Rating

Lake Olympia Middle School

Education Level: Middle
# of students: 1,112
# of teachers: 71

GreatSchools Rating

Hightower High School

Education Level: High
# of students: 2,254
# of teachers: 134

GreatSchools Rating

FINANCIALS

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$288,000$352,00000$320,000

PURCHASE PRICE

$2,034$2,48600$2,260

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$2,260
EXPENSES	Loan Payment	-$1,111
	Property Tax	-$633
	Property Insurance	-$179
	HOA	-$92
	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.

$320,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.87%
Appreciation Year (1-5)	3.4%
Maintenance Year (1-5)	8.00%
Vacancy	9.28%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$90,550

Down Payment	$80,000
Rehab Estimate	$5,750
Closing Costs	$4,800

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$80,000
Loan Amount	$240,000

See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$12,653

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$2,260
LIST RENT
$0.86
LIST RENT PER SQFT

$2,260
COMP ESTIMATED VALUE
$0.86
COMP AVG. RENT PER SQFT

Comps Range

$2,000

1$2,0002$2,2603$2,2954$2,3005$2,300

$2,300

RENT COMPS ANALYSIS

2,636
PROPERTY SQFT
$0.86
AVG RENT PER SQFT
$2,260
ESTIMATED VALUE
$2,260
LIST RENT

2703 Lake Shore Harbour Drive Missouri City, TX 3

4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014
Price

Price Per SQFT

$320,000

$121.40
2603 Edison Brook Lane Missouri City, TX 1

4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 2005
SOLD 10/13/20
Price

Price Per SQFT

$248,000

$96.42
3807 Varna Court Missouri City, TX 2

4 beds 3 baths ∙ 2,702 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,702 Sqft ∙ Built 2016
SOLD 08/11/20
Price

Price Per SQFT

$274,900

$101.74
3807 Pantano Court Missouri City, TX 4

4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,550 Sqft ∙ Built 2016
SOLD 09/18/20
Price

Price Per SQFT

$321,500

$126.08
2330 Anzio Court Missouri City, TX 5

4 beds 4 baths ∙ 2,755 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,755 Sqft ∙ Built 2018
SOLD 10/15/20
Price

Price Per SQFT

$358,000

$129.95

2703 Lake Shore Harbour Drive Missouri City, TX 2

4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014
Rent

Rent Per SQFT

$2,260

$0.86
3931 Medici Court Missouri City, TX 1

4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,636 Sqft ∙ Built 2014
LEASED 05/11/20
Rent

Rent Per SQFT

$2,000

$0.76
2710 Lake Villa Missouri City, TX 3

4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,699 Sqft ∙ Built 2008
LEASED 10/28/20
Rent

Rent Per SQFT

$2,295

$0.85
3823 Pantano Court Missouri City, TX 4

4 beds 4 baths ∙ 2,497 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,497 Sqft ∙ Built 2016
LEASED 04/24/20
Rent

Rent Per SQFT

$2,300

$0.92
3534 Truesdale Missouri City, TX 5

4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,564 Sqft ∙ Built 1994
LEASED 11/13/20
Rent

Rent Per SQFT

$2,300

$0.90

PROPERTY LISTING DETAILS

Kevin Johnson
1.713.213.1802
Realty Associates

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22002963
Last Updated: 02/06/2021

2703 Lake Shore Harbour Drive Missouri City, TX 77459

$320,000

$2,260

$90,550

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Palmer Elementary School

Lake Olympia Middle School

Hightower High School

FINANCIALS

$288,000$352,00000$320,000

$2,034$2,48600$2,260

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$320,000

$2,260

0.71%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,111

4.25

$12,653

$320,000

$121.4

$299,311

$113.55

COMPS RANGE

PRICE COMPS ANALYSIS

$2,260

$0.86

$2,260

$0.86

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS