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3914 Medici Court Missouri City, TX 77459

3 Beds 2 Baths 2,091 sqft Built 2013

INVESTimate

$279,900

List Price

$1,960

$1,764 - $2,156

Rent Est.

$289,473  ( +3.42%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2013
  • Price/Sqft : $133.86
  • 30 Days on Market
  • MLS # : 31929452
  • Updated Date : 08/24/2020 at 11:32
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,091 sqft
  • Baths : 2 full
Listing Agent

Tracy Strickland

Listing Agent's Description

Waterfront, single story home with dock. Brick with Stone accents, open floor plan, granite countertops, stainless appliances. Large master bedroom and large walk-in closet. New water heater 8/20. Pay attention to the tax rates in this neighborhood...newer sections are at 3.4% while this section is at 2.48% which makes a big difference on monthly payment.

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: Lake Shore Harbour Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380k400kPrice in $113k411k

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

Neighborhood: Lake Shore Harbour Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100220023002400Rent in $10722440

* 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
Palmer Elementary School Primary Regular 590 42 6
Lake Olympia Middle School Middle Regular 1,112 71 4
Hightower High School High Regular 2,254 134 5

Palmer Elementary School

  • Education Level: Primary
  • # of students: 590
  • # of teachers: 42
6
GreatSchools Rating

Lake Olympia Middle School

  • Education Level: Middle
  • # of students: 1,112
  • # of teachers: 71
4
GreatSchools Rating

Hightower High School

  • Education Level: High
  • # of students: 2,254
  • # of teachers: 134
5
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,764$2,156$1,960

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$12k

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 $1,960
EXPENSES Loan Payment -$1,033
Property Tax -$553
Property Insurance -$148
HOA -$92
Property Management Fees -$99
CASH FLOW
$35

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.

$279,900

PROJECTED PRICE

$1,960

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.42%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,033

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$7,411

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,971

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$1,9003$1,9604$2,0005$2,150
$2,150
RENT COMPS ANALYSIS
  • 3914 Medici Court Missouri City, TX 3
    • 3 beds 2 baths ∙ 2,091 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,091 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.94
    •  
  • 1827 Parkview Lane Missouri City, TX 1
    • 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,931 Sqft ∙ Built 1994
    property image
    LEASED 05/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.95
    •  
  • 2311 Alassio Isle Court Missouri City, TX 2
    • 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,065 Sqft ∙ Built 2011
    property image
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.92
    •  
  • 2226 Alassio Isle Court Missouri City, TX 4
    • 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,074 Sqft ∙ Built 2010
    property image
    LEASED 12/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.96
    •  
  • 2727 Lake Villa Drive Missouri City, TX 5
    • 3 beds 2 baths ∙ 2,280 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,280 Sqft ∙ Built 2009
    property image
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.94
    •  
PROPERTY LISTING DETAILS
Tracy Strickland
1.832.818.1227
Tracy Strickland
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31929452
Last Updated: 08/24/2020
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