Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

29426 Legends Green Drive Spring, TX 77386

3 Beds 3 Baths 1,708 sqft Built 2004

$209,000

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 15, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $122.37
  • 4 Days on Market
  • MLS # : 46310355
  • Updated Date : 01/14/2021 at 22:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,708 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Northwest, Realtors

Listing Agent's Description

Beautiful 2-Story home in the well established Legends Run community. Spacious living area and great for entertaining. A large Kitchen with plenty of cabinets and also open to the living area. Upstairs includes a large Master Suite with a large walk-in closet. Two secondary bedrooms, and gameroom to tie it all together. Several recent updates including the water heater, HVAC, dishwasher, and oven. Zoned to A-Rated Conroe ISD schools. Easy access to The Woodlands Mall, Exxon campus, shopping, dining, parks and recreation, I-45 and the Grand Parkway. This home has it all and not expected to last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Legends Run

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $100k305k

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

Neighborhood: Legends Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8762063

* 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
Cox Intermediate School Primary Regular 1,093 60 9
Cox Intermediate School Middle Regular 1,093 60 9
Oak Ridge High School High Regular 3,637 202 8

Cox Intermediate School

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

Cox Intermediate School

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

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$188,100$229,900$209,000

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$726
Property Tax -$525
Property Insurance -$126
HOA -$35
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 17% of earned rent to cover both maintenance and periods of vacancy.

$209,000

PROJECTED PRICE

$1,620

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.4%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
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$10k

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$61,135

INVESTMENT

$61,135

Down Payment
$52,250
Rehab Estimate
$5,750
Closing Costs
$3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$7,845

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,635

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,4953$1,6004$1,6205$1,655
$1,655
RENT COMPS ANALYSIS
  • 29426 Legends Green Drive Spring, TX 4
    • 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,708 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.95
    •  
  • 29338 Legends Green Drive Spring, TX 1
    • 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,575 Sqft ∙ Built 2007
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 3210 Legends Hill Court Spring, TX 2
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2005
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,495
    • $0.96
    •  
  • 29602 Legends Bluff Drive Spring, TX 3
    • 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2010 4 beds 2 baths ∙ 1,645 Sqft ∙ Built 2010
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 29327 Legends Green Drive Spring, TX 5
    • 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,686 Sqft ∙ Built 2010
    LEASED 11/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,655
    • $0.98
    •  
PROPERTY LISTING DETAILS
Shane Terry
1.832.444.8541
Re/max Northwest, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 46310355
Last Updated: 01/14/2021
BESbswy