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

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.

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.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 77386

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77386

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
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:
NA
GreatSchools Rating

York Junior High School

  • Education Level: Middle
  • # of students: 1,002
  • # of teachers: 58
8
GreatSchools Rating

Grand Oaks High School

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

$260,550$318,450$289,500

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$82,468

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
Term
4.25%
Interest
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
  • 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
BESbswy