Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

3639 Heritage Colony Drive Missouri City, TX 77459

4 Beds 3 Baths 2,713 sqft Built 1999

$289,950

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $106.87
  • 38 Days on Market
  • MLS # : 66150078
  • Updated Date : 12/29/2020 at 14:50
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,713 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Southwest

Listing Agent's Description

Huge open kitchen with Corian counters, tile back splash & gas stove/oven; tons of cabinets/counter space & large pantry. Venetian blinds thru out. No neighbors in the back. Sprinkler system. Fresh paint. High ceilings in entry,dining & den. Ceramic tile throughout. Entry, dining, den, primary, kitchen, primary bath, breakfast & utility rm. Luxury primary bath with double vanity, Jacuzzi & separate shower & large walk-in. Several ceiling fans, dining & breakfast light & entry lights replaced. 5 ceiling fans & 3 walk-in closets. Lead glass front door with nice landscaping & front porch elevation & mature trees. Epoxy paint on garage floor & garage opener included. 2 recently replaced (2020) AC condensers.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Heritage Colony

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k356k

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

Neighborhood: Heritage Colony

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21100120013001400150016001700180019002000Rent in $10722074

* 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
Austin Parkway Elementary School Primary Regular 1,014 62 8
First Colony Middle School Middle Regular 1,266 69 10
Elkins High School High Regular 2,063 108 8

Austin Parkway Elementary School

  • Education Level: Primary
  • # of students: 1,014
  • # of teachers: 62
8
GreatSchools Rating

First Colony Middle School

  • Education Level: Middle
  • # of students: 1,266
  • # of teachers: 69
10
GreatSchools Rating

Elkins High School

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

$260,955$318,945$289,950

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$1,007
Property Tax -$696
Property Insurance -$184
HOA -$65
Property Management Fees -$99
CASH FLOW
$49

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.

$289,950

PROJECTED PRICE

$2,100

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.3%
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$10k

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$82,587

INVESTMENT

$82,587

Down Payment
$72,488
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,488
Loan Amount $217,463
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,372

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,225

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1003$2,1004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 3639 Heritage Colony Drive Missouri City, TX 3
    • 4 beds 3 baths ∙ 2,713 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,713 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.77
    •  
  • 4919 Big Cedar Circle Missouri City, TX 1
    • 3 beds 2 baths ∙ 2,597 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,597 Sqft ∙ Built 2000
    property image
    LEASED 08/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.77
    •  
  • 4914 Mulberry Circle Missouri City, TX 2
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2000
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 3518 Double Lake Drive Missouri City, TX 4
    • 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,572 Sqft ∙ Built 1996
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.86
    •  
  • 5010 Bellmead Drive Missouri City, TX 5
    • 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1996 4 beds 3 baths ∙ 2,660 Sqft ∙ Built 1996
    property image
    LEASED 07/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
PROPERTY LISTING DETAILS
K.c. Lam
1.281.265.4106
Re/max Southwest
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 66150078
Last Updated: 12/29/2020
BESbswy