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308 Terra Vista Circle Montgomery, TX 77356

4 Beds 2 Baths 1,820 sqft Built 2020

INVESTimate

$252,150

List Price

$1,620

$1,458 - $1,782

Rent Est.

$261,429  ( +3.68%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $138.54
  • 13 Days on Market
  • MLS # : 29356969
  • Updated Date : 08/22/2020 at 22:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,820 sqft
  • Baths : 2 full
Listing Agent

Adams Homes Realty Inc

Listing Agent's Description

August has sweet savings with $5,000 off on upgrades. This BRAND NEW, open concept home is on trend with plank tile flooring, dove gray walls and high ceilings. The dining room flows into a chef's kitchen with granite counter tops, subway tile back splash, and stainless steel appliances. The Kitchen is open to a massive great room. The private master retreat features a spa-like bathroom with garden tub & separate over-sized shower. There are three additional bedrooms and a full bath off the front hallway. Adams Homes has been a leading builder since 1991. Don't wait for this one to be gone. Check us out today!

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

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
 

$226,935$277,365$252,150

PURCHASE PRICE

$1,458$1,782$1,620

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

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 $1,620
EXPENSES Loan Payment -$930
Property Tax -$425
Property Insurance -$132
HOA -$33
Property Management Fees -$99
CASH FLOW
$1

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.

$252,150

PROJECTED PRICE

$1,620

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.68%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,820

INVESTMENT

$68,820

Down Payment
$63,038
Rehab Estimate
$2,000
Closing Costs
$3,782

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$930

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,038
Loan Amount $189,113
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$6,485

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $1,589

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6003$1,6204$1,800
$1,800
RENT COMPS ANALYSIS
  • 308 Terra Vista Circle Montgomery, TX 3
    • 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2020 4 beds 2 baths ∙ 1,820 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.89
    •  
  • 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
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 18712 Rosalea Way Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,839 Sqft ∙ Built 2008
    LEASED 03/22/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.87
    •  
  • 106 Abner Lane Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
PROPERTY LISTING DETAILS
Monica Finkelstein
1.281.455.5085
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 #: 29356969
Last Updated: 08/22/2020
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