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439 Terra Vista Circle Montgomery, TX 77356

4 Beds 3 Baths 2,227 sqft Built 2020

INVESTimate

$268,900

List Price

$1,970

$1,773 - $2,167

Rent Est.

$278,796  ( +3.68%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Built In 2020
  • Price/Sqft : $120.75
  • 12 Days on Market
  • MLS # : 22129183
  • Updated Date : 08/22/2020 at 22:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,227 sqft
  • Baths : 2 full , 1 half
Listing Agent

Adams Homes Realty Inc

Listing Agent's Description

August has a sweet deal where you can save up to $5,000 on upgrades. This BRAND NEW beauty epitomizes open concept design and offers high ceilings and has loads of natural light. The dining room flows into a designer kitchen with granite counter tops, a sleek back splash and stainless steel appliances. The master retreat is so luxurious with its deep garden tub and separate over-sized shower. Three more bedrooms and guest bathroom make this a perfect four bedroom home. Four sides brick and professional landscaping with full sod in the front and back make this home the complete package. We've been a leading builder for nearly three decades. Come check us out today.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$242,010$295,790$268,900

PURCHASE PRICE

$1,773$2,167$1,970

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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 $1,970
EXPENSES Loan Payment -$992
Property Tax -$447
Property Insurance -$156
HOA -$33
Property Management Fees -$99
CASH FLOW
$243

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.

$268,900

PROJECTED PRICE

$1,970

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.68%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,259

INVESTMENT

$73,259

Down Payment
$67,225
Rehab Estimate
$2,000
Closing Costs
$4,034

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$992

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $67,225
Loan Amount $201,675
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$28,599

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,970

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,975

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,9003$1,9704$2,200
$2,200
RENT COMPS ANALYSIS
  • 439 Terra Vista Circle Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,227 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,970
    • $0.88
    •  
  • 106 Abner Lane Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,010 Sqft ∙ Built 2015
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.90
    •  
  • 438 Terra Vista Circle Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,129 Sqft ∙ Built 2018
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
  • 18847 Mystic Point Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,517 Sqft ∙ Built 2004
    property image
    LEASED 05/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.87
    •  
PROPERTY LISTING DETAILS
Monica Finkelstein
1.281.455.5085
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 #: 22129183
Last Updated: 08/22/2020
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