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3110 Longhorn Circle Manvel, TX 77578

3 Beds 2 Baths 2,468 sqft Built 2004

INVESTimate

$257,000

List Price

$1,940

$1,746 - $2,134

Rent Est.

$268,282  ( +4.39%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2004
  • Price/Sqft : $104.13
  • 58 Days on Market
  • MLS # : 38206254
  • Updated Date : 08/21/2020 at 17:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,468 sqft
  • Baths : 2 full
Listing Agent

Exceed Realty

Listing Agent's Description

WELCOME HOME! Gorgeous 3 bed 2 bathroom home with . Tile Flooring. Large back yard with several fruit trees. NEVER BEEN FLOODED!!! READY for your IMMEDIATE MOVE-IN! Great LOCATION. Minutes to Beltway 8, Costco Wholesale, Sam's Club, Pearland Mall, Memorial Hermann Hospital, Randall, HEB, Kroger... They are making this home is unique and JUST FOR YOU!!! Open floor plan perfect for your entertaining.

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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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Southfork

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722208

* 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
Dr. James Red Duke Elementary School Primary Regular 850 49 NA
Manvel High School High Regular 2,813 153 5

Dr. James Red Duke Elementary School

  • Education Level: Primary
  • # of students: 850
  • # of teachers: 49
NA
GreatSchools Rating

Manvel High School

  • Education Level: High
  • # of students: 2,813
  • # of teachers: 153
5
GreatSchools Rating
 

$231,300$282,700$257,000

PURCHASE PRICE

$1,746$2,134$1,940

RENT

DOWN PAYMENT
FINANCING

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-$4.0k-$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$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,940
EXPENSES Loan Payment -$948
Property Tax -$619
Property Insurance -$194
HOA -$38
Property Management Fees -$99
CASH FLOW
$43

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.

$257,000

PROJECTED PRICE

$1,940

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.39%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,855

INVESTMENT

$73,855

Down Payment
$64,250
Rehab Estimate
$5,750
Closing Costs
$3,855

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$948

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,250
Loan Amount $192,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,015

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,940

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,999

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8203$1,9404$2,0005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3110 Longhorn Circle Manvel, TX 3
    • 3 beds 2 baths ∙ 2,468 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,468 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,940
    • $0.79
    •  
  • 3319 Ewing Drive Manvel, TX 1
    • 3 beds 3 baths ∙ 2,308 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,308 Sqft ∙ Built 2003
    LEASED 04/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.76
    •  
  • 3031 Mustang Meadow Lane Manvel, TX 2
    • 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,309 Sqft ∙ Built 2004
    LEASED 04/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,820
    • $0.79
    •  
  • 2830 J R Drive Manvel, TX 4
    • 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2010 4 beds 3 baths ∙ 2,507 Sqft ∙ Built 2010
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.80
    •  
  • 3615 Quiet Meadow Court Manvel, TX 5
    • 4 beds 4 baths ∙ 2,597 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,597 Sqft ∙ Built 2003
    LEASED 07/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
PROPERTY LISTING DETAILS
Kenneth Tran
1.832.526.4783
Exceed Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 38206254
Last Updated: 08/21/2020
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