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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.

$67,999

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+5.4%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.0%
Cash Flow	$348
Value Increase	$13,043

10 YEAR

Cash On Cash	-4.1%
Total Return	9.0%

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.

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MARKET HIGHLIGHTS

Houston Market Report

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)

Neighborhood: Legends Run

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

Neighborhood: Legends Run

* 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

GreatSchools Rating

Cox Intermediate School

Education Level: Middle
# of students: 1,093
# of teachers: 60

GreatSchools Rating

Oak Ridge High School

Education Level: High
# of students: 3,637
# of teachers: 202

GreatSchools Rating

FINANCIALS

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$211,410$258,39000$234,900

PURCHASE PRICE

$1,557$1,90300$1,730

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	%

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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

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

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

3.75%

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

2,267
PROPERTY SQFT
$0.77
AVG RENT PER SQFT
$1,751
ESTIMATED VALUE
$1,730
LIST RENT

29723 Legends Green Drive Spring, TX 3

3 beds 2 baths ∙ 2,267 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,267 Sqft ∙ Built 2007
Price

Price Per SQFT

$234,900

$103.62
29539 S Legends Bend Drive Spring, TX 1

3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,160 Sqft ∙ Built 2004
SOLD 09/30/20
Price

Price Per SQFT

$201,000

$93.06
3646 Standing Rock Drive Spring, TX 2

3 beds 3 baths ∙ 2,225 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,225 Sqft ∙ Built 2009
SOLD 11/06/20
Price

Price Per SQFT

$205,000

$92.13
29489 Salem Fields Drive Spring, TX 4

3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,177 Sqft ∙ Built 2013
SOLD 08/21/20
Price

Price Per SQFT

$244,500

$112.31
29810 N Legends Chase Circle Spring, TX 5

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

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
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
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
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
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
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

29723 Legends Green Drive Spring, TX 77386

$234,900

$1,730

$67,999

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Cox Intermediate School

Cox Intermediate School

Oak Ridge High School

FINANCIALS

$211,410$258,39000$234,900

$1,557$1,90300$1,730

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$234,900

$1,730

0.74%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$816

2.33

$3,791

$234,900

$103.62

$230,775

$101.8

COMPS RANGE

PRICE COMPS ANALYSIS

$1,730

$0.76

$1,751

$0.77

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS