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29522 Monona Terrace Court Spring, TX 77386

3 Beds 3 Baths 2,411 sqft Built 2015

$289,500

List Price

$2,150

$1.9K - $2.4K

Rent Est.

$82,468

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+4.5%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.3%
Cash Flow	$648
Value Increase	$13,227

10 YEAR

Cash On Cash	-3.8%
Total Return	8.2%

PROPERTY INFO

November 24, 2020 RECENTLY ADDED

FACTS

Single Family
Built In 2015
Price/Sqft : $120.07
6 Days on Market
MLS # : 39342588
Updated Date : 11/25/2020 at 12:01

CONSTRUCTION

Beds : 3
Floor Size : 2,411 sqft
Baths : 2 full , 1 half

Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Exceptional Craftsman style home built by Gracepoint on a cul-de-sac street in Wrights Landing. Bright and open single story plan features an inviting front porch with side entry. Large private study features closet and windows overlooking the front yard. Formal Dining room with room for a large table. The kitchen features abundant cabinetry and counterspace with a large center island with bar and a walk-in pantry. It is open to a bright breakfast room and the inviting family room with corner fireplace and views to the covered patio and backyard. The split bedroom layout features a luxurious primary suite with relaxing bath and walk-in closet. Two additional secondary bedrooms are both oversized and share a bath with an additional powder bath available for guests. Oversized garage. The neighborhood features timeless Craftsman style homes and features a wooded park and amenities including a splash pad and playground along with a neighborhood pool nearby.

29522 Monona Terrace Ct

Spring, Texas

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Zip Code: 77386

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

Zip Code: 77386

* 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
Bradley Elementary	Primary	Unknown			NA
York Junior High School	Middle	Regular	1,002	58	8
Grand Oaks High School	High	Unknown			NA

Bradley Elementary

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

GreatSchools Rating

York Junior High School

Education Level: Middle
# of students: 1,002
# of teachers: 58

GreatSchools Rating

Grand Oaks High School

Education Level: High
# of students:
# of teachers:

GreatSchools Rating

FINANCIALS

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$260,550$318,45000$289,500

PURCHASE PRICE

$1,935$2,36500$2,150

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	$2,150
EXPENSES	Loan Payment	-$1,068
	Property Tax	-$717
	Property Insurance	-$166
	HOA	-$46
	Property Management Fees	-$99



CASH FLOW $54

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.

$289,500

PROJECTED PRICE

$2,150

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.87%
Appreciation Year (1-5)	4.5%
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

$82,468

Down Payment	$72,375
Rehab Estimate	$5,750
Closing Costs	$4,343

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,068

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$72,375
Loan Amount	$217,125

See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,339

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$2,150
LIST RENT
$0.89
LIST RENT PER SQFT

$2,345
COMP ESTIMATED VALUE
$0.97
COMP AVG. RENT PER SQFT

Comps Range

$2,150

1$2,1502$2,2503$2,2504$2,3005$2,600

$2,600

RENT COMPS ANALYSIS

2,411
PROPERTY SQFT
$0.97
AVG RENT PER SQFT
$2,345
ESTIMATED VALUE
$2,150
LIST RENT

29522 Monona Terrace Court Spring, TX 5

3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015
Price

Price Per SQFT

$289,500

$120.07
3307 Legends Creek Drive Spring, TX 1

3 beds 2 baths ∙ 2,441 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,441 Sqft ∙ Built 2007
SOLD 08/14/20
Price

Price Per SQFT

$211,750

$86.75
29810 N Legends Chase Circle Spring, TX 2

3 beds 2 baths ∙ 2,302 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,302 Sqft ∙ Built 2003
SOLD 11/18/20
Price

Price Per SQFT

$252,500

$109.69
29511 Usonia Drive Spring, TX 3

3 beds 3 baths ∙ 2,455 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 2015
SOLD 10/20/20
Price

Price Per SQFT

$264,000

$107.54
29555 Usonia Drive Spring, TX 4

3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,452 Sqft ∙ Built 2014
SOLD 10/23/20
Price

Price Per SQFT

$268,000

$109.30

29522 Monona Terrace Court Spring, TX 1

3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,411 Sqft ∙ Built 2015
Rent

Rent Per SQFT

$2,150

$0.89
3811 Wrights Landing Drive Spring, TX 2

4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2017
LEASED 11/20/20
Rent

Rent Per SQFT

$2,250

$1.01
29615 Clover Shore Drive Spring, TX 3

4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,439 Sqft ∙ Built 2018
LEASED 08/14/20
Rent

Rent Per SQFT

$2,250

$0.92
29438 Westhope Drive Spring, TX 4

4 beds 4 baths ∙ 2,439 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,439 Sqft ∙ Built 2020
LEASED 11/10/20
Rent

Rent Per SQFT

$2,300

$0.94
29639 Yaupon Shore Drive Spring, TX 5

4 beds 4 baths ∙ 2,538 Sqft ∙ Built 2020 4 beds 4 baths ∙ 2,538 Sqft ∙ Built 2020
LEASED 11/02/20
Rent

Rent Per SQFT

$2,600

$1.02

PROPERTY LISTING DETAILS

Kevin Collins
1.713.992.4501
Bhgre Gary Greene

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39342588
Last Updated: 11/25/2020

29522 Monona Terrace Court Spring, TX 77386

$289,500

$2,150

$82,468

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

PRICE & RENT TRENDS

SCHOOLS

Bradley Elementary

York Junior High School

Grand Oaks High School

FINANCIALS

$260,550$318,45000$289,500

$1,935$2,36500$2,150

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$289,500

$2,150

0.74%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$1,068

2.67

$7,339

$289,500

$120.07

$249,105

$103.32

COMPS RANGE

PRICE COMPS ANALYSIS

$2,150

$0.89

$2,345

$0.97

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS