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29723 Legends Green Drive Spring, TX 77386

3 Beds 2 Baths 2,267 sqft Built 2007

$234,900

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $103.62
  • 11 Days on Market
  • MLS # : 18202996
  • Updated Date : 01/05/2021 at 14:18
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,267 sqft
  • Baths : 2 full
Listing Agent

Mark Dimas Team

Listing Agent's Description

Beautiful 3 bedroom, 2 bathroom, single-story home featuring a 2-car attached garage and new roof! Inside, you'll find a tile entry, wood-type flooring, lovely archways, carpeted bedrooms, a French door study, a large formal area, and a separate den. There's a utility room in-house, and the kitchen includes a breakfast area, granite-look countertops, a stainless steel dishwasher, and a breakfast bar. The primary bedroom is spacious and has a garden tub, separate shower, and walk-in closet while the backyard features a covered patio and plenty of green space. This home is located with easy access to the Grand Parkway, I-45, and Hardy Toll Rd! Showings from 6am-8pm: Download Zillow app to access. Search home in app. Click Self Tour to unlock.

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
 

$211,410$258,390$234,900

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$816
Property Tax -$590
Property Insurance -$158
HOA -$38
Property Management Fees -$99
CASH FLOW
$29

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.

$234,900

PROJECTED PRICE

$1,730

PROJECTED RENT

0.74%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$67,999

INVESTMENT

$67,999

Down Payment
$58,725
Rehab Estimate
$5,750
Closing Costs
$3,524

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 65% down payment or higher enables the proceeds from the asset to cover all costs.

$816

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $58,725
Loan Amount $176,175
See What Happens When You Reinvest Cash Flow

2.33

YEARS SAVED

$3,791

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,751

    COMP ESTIMATED VALUE
  • $0.77

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6253$1,6404$1,6505$1,730
$1,730
RENT COMPS ANALYSIS
  • 29723 Legends Green Drive Spring, TX 5
    • 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.76
    •  
  • 3515 Garrison Run Drive Spring, TX 1
    • 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,076 Sqft ∙ Built 2007
    property image
    LEASED 03/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.75
    •  
  • 3411 N Legends Creek Drive Spring, TX 2
    • 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,096 Sqft ∙ Built 2007
    property image
    LEASED 09/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.78
    •  
  • 3419 Legends Wild Drive Spring, TX 3
    • 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,070 Sqft ∙ Built 2008
    property image
    LEASED 02/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,640
    • $0.79
    •  
  • 3339 Legends Shadow Drive Spring, TX 4
    • 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,132 Sqft ∙ Built 2006
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.77
    •  
PROPERTY LISTING DETAILS
Mark Dimas
1.346.352.1999
Mark Dimas Team
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 18202996
Last Updated: 01/05/2021
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