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3114 Carmel Valley Drive Missouri City, TX 77459

3 Beds 2 Baths 2,145 sqft Built 2004

$259,000

List Price

$1,830

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $120.75
  • 2 Days on Market
  • MLS # : 69769510
  • Updated Date : 03/20/2021 at 11:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,145 sqft
  • Baths : 2 full
Listing Agent

Truss Real Estate

Listing Agent's Description

Welcome to Quail Valley located in Missouri City which comes fully loaded with amenities such as a full fitness center along with 13 hard tennis courts with lights and a gymnasium featuring basketball/volleyball courts. Park and trails are walking distance away as well as Quail Valley Golf course. This quiet and serene neighborhood is surrounded with mature trees and plenty of family fun. Low tax rates of 2.3% zoned to Elkins High. This well maintained traditional home sits on a oversized 13k sf lot inside a cul de sac with a spacious open floor plan/high ceilings and crown molding found throughout the home. Galley kitchen opens to a breakfast area with serene settings of your private backyard with generous secondary rooms. The primary suite features high vaulted ceilings, fresh paint and oversized windows. The ensuite is fully equipped with stand up shower/garden tub and an elaborate walk in closet. Expansive covered backyard patio with no back neighbors to enjoy private entertaining!

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: Thunderbird

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Thunderbird

NeighborhoodNIR 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
Quail Valley Elementary School Primary Regular 565 36 5
Quail Valley Middle School Middle Regular 1,273 59 7
Elkins High School High Regular 2,063 108 8

Quail Valley Elementary School

  • Education Level: Primary
  • # of students: 565
  • # of teachers: 36
5
GreatSchools Rating

Quail Valley Middle School

  • Education Level: Middle
  • # of students: 1,273
  • # of teachers: 59
7
GreatSchools Rating

Elkins High School

  • Education Level: High
  • # of students: 2,063
  • # of teachers: 108
8
GreatSchools Rating
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,647$2,013$1,830

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,830
EXPENSES Loan Payment -$900
Property Tax -$623
Property Insurance -$151
HOA -$33
Property Management Fees -$99
CASH FLOW
$25

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.

$259,000

PROJECTED PRICE

$1,830

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.9%
Maintenance Year (1-5) 8.00%
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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$4,354

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,830

    LIST RENT
  • $0.85

    LIST RENT PER SQFT
  • $1,920

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,830
1$1,8302$1,8903$1,9004$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 3114 Carmel Valley Drive Missouri City, TX 1
    • 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,145 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,830
    • $0.85
    •  
  • 6214 Surfside Ln Lane Missouri City, TX 2
    • 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,060 Sqft ∙ Built 2000
    LEASED 07/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.92
    •  
  • 6243 Surfside Lane Missouri City, TX 3
    • 3 beds 2 baths ∙ 2,183 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,183 Sqft ∙ Built 2000
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.87
    •  
  • 3307 Indigo Lane Missouri City, TX 4
    • 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,226 Sqft ∙ Built 2001
    LEASED 02/24/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
  • 3455 Talia Wood Court Missouri City, TX 5
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2016
    LEASED 09/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.91
    •  
PROPERTY LISTING DETAILS
Christopher Phan
1.832.640.7900
Truss Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69769510
Last Updated: 03/20/2021
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