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3519 Benjamin Franklin Lane Missouri City, TX 77459

3 Beds 3 Baths 2,439 sqft Built 2003

$209,999

List Price

$1,650

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 13, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $86.10
  • 4 Days on Market
  • MLS # : 75566211
  • Updated Date : 11/12/2020 at 17:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,439 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Look no further! This 3 bedroom/2.5 bath makes you feel instantly at home. The open concept kitchen flows into the den/living room making it great for entertaining. Hardwood and tile floors are installed throughout the downstairs. Upstairs features a huge game room with spacious bedrooms! Schedule your appointment now! Zoned to Fort Bend ISD

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: Lexington Square

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260kPrice in $105k274k

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

Neighborhood: Lexington Square

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700Rent in $10421788

* 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
Armstrong Elementary School Primary Regular 645 46 5
Missouri City Middle School Middle Regular 1,116 79 3
Marshall High School High Regular 1,242 93 2

Armstrong Elementary School

  • Education Level: Primary
  • # of students: 645
  • # of teachers: 46
5
GreatSchools Rating

Missouri City Middle School

  • Education Level: Middle
  • # of students: 1,116
  • # of teachers: 79
3
GreatSchools Rating

Marshall High School

  • Education Level: High
  • # of students: 1,242
  • # of teachers: 93
2
GreatSchools Rating
 

$188,999$230,999$209,999

PURCHASE PRICE

$1,485$1,815$1,650

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,650
EXPENSES Loan Payment -$775
Property Tax -$415
Property Insurance -$168
HOA -$25
Property Management Fees -$99
CASH FLOW
$168

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.

$209,999

PROJECTED PRICE

$1,650

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 1.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

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$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,499
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$17,168

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,650

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,799

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7504$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 3519 Benjamin Franklin Lane Missouri City, TX 1
    • 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2003
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 1119 Autumn Green Drive Missouri City, TX 2
    • 3 beds 3 baths ∙ 2,378 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,378 Sqft ∙ Built 2001
    property image
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 118 Kings Way Stafford, TX 3
    • 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 2003 3 beds 2 baths ∙ 2,386 Sqft ∙ Built 2003
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.73
    •  
  • 3606 Samuel Adams Missouri City, TX 4
    • 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,439 Sqft ∙ Built 2003
    property image
    LEASED 05/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
  • 4127 Applecreek Bend Drive Stafford, TX 5
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2005
    property image
    LEASED 06/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.74
    •  
PROPERTY LISTING DETAILS
Robin Demings
1.832.566.2599
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 75566211
Last Updated: 11/12/2020
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