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3014 Aden Joseph Court Missouri City, TX 77459

4 Beds 3 Baths 2,757 sqft Built 2020

INVESTimate

$299,995

List Price

$2,200

$1,980 - $2,420

Rent Est.

$297,145  ( -0.95%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $108.81
  • 8 Days on Market
  • MLS # : 57087663
  • Updated Date : 08/19/2020 at 17:52
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,757 sqft
  • Baths : 2 full , 1 half
Listing Agent

Meritage Homes Realty

Listing Agent's Description

Brand NEW energy-efficient home ready Oct-Nov 2020! Clear sight lines from the kitchen through the great room bring everyone together. Light linen cabinets, creamy granite countertop, griege tile, sand colored carpet, and wheat oak vinyl plank in our Essential package. Dry Creek Village is conveniently located in Missouri City off of Fort Bend Parkway. Offering spacious single-family new home floor plans with open concept living and innovative energy-efficient features. This beautifully planned community provides a relaxing setting with 13 miles of trails and parks. Known for our energy-efficient features, our homes help you live a healthier and quieter lifestyle while saving you thousands of dollars on your utility bills.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Sienna Plantation

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320kPrice in $113k333k

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

Neighborhood: Sienna Plantation

ZipNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722063

* 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
Donald Leonetti Elementary School Primary Regular NA
Baines Middle School Middle Regular 1,585 80 7
Ridge Point High School High Regular 2,102 108 8

Donald Leonetti Elementary School

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

Baines Middle School

  • Education Level: Middle
  • # of students: 1,585
  • # of teachers: 80
7
GreatSchools Rating

Ridge Point High School

  • Education Level: High
  • # of students: 2,102
  • # of teachers: 108
8
GreatSchools Rating
 

$269,996$329,995$299,995

PURCHASE PRICE

$1,980$2,420$2,200

RENT

DOWN PAYMENT
FINANCING

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$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,200
EXPENSES Loan Payment -$1,107
Property Tax -$629
Property Insurance -$186
HOA -$70
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 12% of earned rent to cover both maintenance and periods of vacancy.

$299,995

PROJECTED PRICE

$2,200

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) -0.95%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,499

INVESTMENT

$81,499

Down Payment
$74,999
Rehab Estimate
$2,000
Closing Costs
$4,500

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,999
Loan Amount $224,996
See What Happens When You Reinvest Cash Flow

3.67

YEARS SAVED

$12,035

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,200

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $2,219

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$2,2003$2,2504$2,2505$2,400
$2,400
RENT COMPS ANALYSIS
  • 3014 Aden Joseph Court Missouri City, TX 2
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.80
    •  
  • 3011 Deer Lodge Missouri City, TX 1
    • 4 beds 4 baths ∙ 2,424 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,424 Sqft ∙ Built 2003
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 10039 Harbor Light Drive Missouri City, TX 3
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2016
    LEASED 07/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.81
    •  
  • 10022 Harbor Light Drive Missouri City, TX 4
    • 4 beds 4 baths ∙ 2,816 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,816 Sqft ∙ Built 2016
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.80
    •  
  • 10003 Starhill Court Missouri City, TX 5
    • 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,764 Sqft ∙ Built 2017
    LEASED 12/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Patrick Mcgrath
1.713.425.0016
Meritage Homes Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 57087663
Last Updated: 08/19/2020
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