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318 N Marathon Way Stafford, TX 77477

3 Beds 2 Baths 1,933 sqft Built 1995

INVESTimate

$218,900

List Price

$1,580

$1,422 - $1,738

Rent Est.

$223,825  ( +2.25%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1995
  • Price/Sqft : $113.24
  • 2 Days on Market
  • MLS # : 84923929
  • Updated Date : 08/25/2020 at 09:47
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,933 sqft
  • Baths : 2 full
Listing Agent

New Trends Realty

Listing Agent's Description

Lovely 3/2/2 home in Promenade at Stafford Run. The large private master suite, Garden Tub, cozy fireplace. High ceilings surround sound, security system, french drains. Tile in the Family room, Kitchen, Breakfast, Utility room, and Bathrooms. Brand new Dishwasher and Garbage disposal. The interior is freshly painted. Range vents to outside. In a prime location, just minutes from major city centers, close to HWY 59, HWY 90, Restaurants, and shopping centers. Low Tax Rate!! Hurry...!

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

Neighborhood: The Promenade at Stafford Run

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $105k305k

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

Neighborhood: The Promenade at Stafford Run

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10302063

* 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
Stafford Intermediate School Primary Regular 505 29 6
Stafford Intermediate School Middle Regular 505 29 6
Stafford High School High Regular 1,001 68 3

Stafford Intermediate School

  • Education Level: Primary
  • # of students: 505
  • # of teachers: 29
6
GreatSchools Rating

Stafford Intermediate School

  • Education Level: Middle
  • # of students: 505
  • # of teachers: 29
6
GreatSchools Rating

Stafford High School

  • Education Level: High
  • # of students: 1,001
  • # of teachers: 68
3
GreatSchools Rating
 

$197,010$240,790$218,900

PURCHASE PRICE

$1,422$1,738$1,580

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,580
EXPENSES Loan Payment -$808
Property Tax -$383
Property Insurance -$139
HOA -$50
Property Management Fees -$99
CASH FLOW
$102

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.

$218,900

PROJECTED PRICE

$1,580

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.25%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,759

INVESTMENT

$63,759

Down Payment
$54,725
Rehab Estimate
$5,750
Closing Costs
$3,284

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$808

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,725
Loan Amount $164,175
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,615

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,580

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,590

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5803$1,6004$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 318 N Marathon Way Stafford, TX 2
    • 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,933 Sqft ∙ Built 1995
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.82
    •  
  • 526 Meadow Knoll Drive Stafford, TX 1
    • 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 1980 4 beds 2 baths ∙ 1,839 Sqft ∙ Built 1980
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.79
    •  
  • 1215 Birchstone Drive Missouri City, TX 3
    • 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 1984
    LEASED 05/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.79
    •  
  • 1238 Berrystone Trail Missouri City, TX 4
    • 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1985 3 beds 2 baths ∙ 2,019 Sqft ∙ Built 1985
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 806 Robins Way Stafford, TX 5
    • 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,858 Sqft ∙ Built 1997
    LEASED 12/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.89
    •  
PROPERTY LISTING DETAILS
Jay Patel
1.281.507.3015
New Trends Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84923929
Last Updated: 08/25/2020
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