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414 Terra Vista Circle Montgomery, TX 77356

4 Beds 3 Baths 2,200 sqft Built 2020

$274,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
December 26, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $124.55
  • 5 Days on Market
  • MLS # : 86477004
  • Updated Date : 12/26/2020 at 14:37
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent

Adams Homes Realty Inc

Listing Agent's Description

NEW CONSTRUTION MOVE IN READY! The Adams 2200A plan has an open concept with vaulted ceilings. This beautiful 4 bedroom 3 bath home shows with class. The huge dining, kitchen and family room gives this home the holiday feel. The kitchen has 36" shaker cabinets, nickel plated hardware, and Frigidaire stainless steel appliances. The 4 bedrooms are very spacious with walk in closets. Primary bathroom has dual vanity sink, modular tub, walk in shower with tile backsplash. Secondary bathroom also has dual vanity sinks. Exterior features include 4 sided brick, coach lighting, 2 car garage with opener, and a professional landscaped yard with full sod, shrubs and fence. Low HOA and the best Montgomery schools. THIS BEAUTIFUL NEW HOME IS A MUST SEE FOR THE HOLIDAYS!

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

Zip Code: 77356

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77356

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722163

* 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
Montgomery Elementary School Primary Regular 765 49 6
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Montgomery Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 49
6
GreatSchools Rating

Montgomery Junior High School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 74
7
GreatSchools Rating

Montgomery High School

  • Education Level: High
  • # of students: 2,362
  • # of teachers: 153
7
GreatSchools Rating
 

$246,600$301,400$274,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$1,011
Property Tax -$456
Property Insurance -$154
HOA -$33
Property Management Fees -$99
CASH FLOW
-$53

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$274,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
Maintenance Year (1-5) 3.00%
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$74,610

INVESTMENT

$74,610

Down Payment
$68,500
Rehab Estimate
$2,000
Closing Costs
$4,110

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,011

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,500
Loan Amount $205,500
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$4,498

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,973

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,8003$1,8754$2,250
$2,250
RENT COMPS ANALYSIS
  • 414 Terra Vista Circle Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,200 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.77
    •  
  • 106 Abner Lane Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 438 Terra Vista Circle Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
  • 19014 Minero Lane Montgomery, TX 4
    • 3 beds 3 baths ∙ 2,345 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,345 Sqft ∙ Built 2015
    LEASED 07/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.96
    •  
PROPERTY LISTING DETAILS
Tommie Morgan
1.817.371.4879
Adams Homes Realty Inc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 86477004
Last Updated: 12/26/2020
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