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305 Terra Vista Circle Montgomery, TX 77356

4 Beds 2 Baths 2,020 sqft Built 2020

$275,400

List Price

$1,840

$1.7K - $2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $136.34
  • 5 Days on Market
  • MLS # : 69557656
  • Updated Date : 12/26/2020 at 15:18
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,020 sqft
  • Baths : 2 full
Listing Agent

Adams Homes Realty Inc

Listing Agent's Description

NEW CONSRUCTION MOVE IN READY HOME! This 2020 Adams plan has an open concept. This beautiful 4 bedroom, 2 bath with rock and stone elevation home shows with class. The home opens into a traditional setting with dining, kitchen, and a large family room. The spacious kitchen has 36" shaker cabinets with nickel plated hardware, Frigidaire stainless steel appliances. The split 3 bed room layout boasts a spacious primary bedroom with tray ceiling and walk in closet. Primary bathroom has dual vanity sinks, modular tub, and walk in shower with ceramic tile. Exterior features 4 sided brick, coach lighting, 2 car garage with opener, extended front porch, professional landscape with full sod shrubs and fence. Super low HOA and the best Montgomery school district. THIS BEAUTIFUL NEW HOME IS A MUST SEE

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 77356

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77356

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722163

* 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
Montgomery Elementary School Primary Regular 765 49 6
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Montgomery Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 49
6
GreatSchools Rating

Montgomery Junior High School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 74
7
GreatSchools Rating

Montgomery High School

  • Education Level: High
  • # of students: 2,362
  • # of teachers: 153
7
GreatSchools Rating
 

$247,860$302,940$275,400

PURCHASE PRICE

$1,656$2,024$1,840

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,840
EXPENSES Loan Payment -$1,016
Property Tax -$458
Property Insurance -$144
HOA -$33
Property Management Fees -$99
CASH FLOW
$90

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.

$275,400

PROJECTED PRICE

$1,840

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 3.00%
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

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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,981

INVESTMENT

$74,981

Down Payment
$68,850
Rehab Estimate
$2,000
Closing Costs
$4,131

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,016

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,850
Loan Amount $206,550
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$13,098

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,840

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,818

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,7753$1,8004$1,8405$1,900
$1,900
RENT COMPS ANALYSIS
  • 305 Terra Vista Circle Montgomery, TX 4
    • 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2020 4 beds 2 baths ∙ 2,020 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,840
    • $0.91
    •  
  • 435 Terra Vista Circle Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 427 Terra Vista Circle Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2018
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.96
    •  
  • 106 Abner Lane Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 438 Terra Vista Circle Montgomery, TX 5
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2018
    property image
    LEASED 04/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
PROPERTY LISTING DETAILS
Tommie Morgan
1.817.371.4879
Adams Homes Realty Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69557656
Last Updated: 12/26/2020
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