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5715 Monterrey Springs Drive 
Houston, TX
77041
3 Beds 3 Baths 2,900 sqft
Built 2001
INVESTimate
$455,000
List Price
$126,325
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PROPERTY INFO
FACTS
- Built In 2001
- Price/Sqft : $156.90
- 2 Days on Market
- MLS # : 31557024
- Updated Date : 08/25/2020 at 07:17
CONSTRUCTION
- Beds : 3
- Floor Size : 2,900 sqft
- Baths : 2 full , 1 half
Listing Agent
Keller Williams Realty
Listing Agent's Description
Bright and beautiful one story home on a quiet, private cul-de-sac lot in the gated community of Lakes on Eldridge! Fabulous soaring ceilings throughout home gives this home a grand feel! Formal living room and dining room areas off entryway., Work from home in the study with french doors! Split Floorplan has 2 bedrooms on one side that share a bathroom, perfect for the kids or guests! Large Island Kitchen is an entertainer's delight! Features include Granite countertops, breakfast bar, pass-through bar, secondary sink in island, stainless steel refrigerator, and built in spice rack. Amazing rounded wall of windows in the breakfast area with charming views to the backyard! Family room with wood flooring and no carpet in this home! Oversized Owner Retreat is tucked away and features a palatial bathroom! Enjoy this Backyard paradise with large pool and pergola with ceiling fans! Extra features include Speaker system, sprinkler sys, full gutters, recent roof, & plantation shutters!
SEE MORE
- 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: Lakes on Eldridge North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Lakes on Eldridge North
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $3,140 |
| EXPENSES | Loan Payment | -$1,679 |
| Property Tax | -$977 | |
| Property Insurance | -$223 | |
| HOA | -$131 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$31
|
||
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.
$455,000
PROJECTED PRICE
$3,140
PROJECTED RENT
0.69%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | -0.44% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
TOTAL CASH OUT OF POCKET
INVESTMENT
$126,325
LOAN DETAILS
$1,679
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $113,750 |
| Loan Amount | $341,250 |
2.5
YEARS SAVED
$10,012
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$3,140
LIST RENT -
$1.08
LIST RENT PER SQFT
-
$2,806
COMP ESTIMATED VALUE -
$0.97
COMP AVG. RENT PER SQFT
Comps Range
-
5715 Monterrey Springs Drive Houston, TX 5
- 3 beds 3 baths ∙ 2,900 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,900 Sqft ∙ Built 2001
- Rent
- Rent Per SQFT
- $3,140
- $1.08
-
5303 S Green Cove Bend Lane Houston, TX 1
- 4 beds 4 baths ∙ 2,995 Sqft ∙ Built 1997 4 beds 4 baths ∙ 2,995 Sqft ∙ Built 1997
LEASED 01/01/20- Rent
- Rent Per SQFT
- $2,850
- $0.95
-
5634 Heather Run Houston, TX 2
- 3 beds 3 baths ∙ 3,071 Sqft ∙ Built 1997 3 beds 3 baths ∙ 3,071 Sqft ∙ Built 1997
LEASED 10/25/19- Rent
- Rent Per SQFT
- $2,900
- $0.94
-
5303 Green Cove Bend Lane Houston, TX 3
- 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,995 Sqft ∙ Built 1997
LEASED 07/31/20- Rent
- Rent Per SQFT
- $2,900
- $0.97
-
12418 Aliso Bend Lane Houston, TX 4
- 4 beds 4 baths ∙ 2,883 Sqft ∙ Built 2002 4 beds 4 baths ∙ 2,883 Sqft ∙ Built 2002
LEASED 09/03/19- Rent
- Rent Per SQFT
- $2,900
- $1.01
PROPERTY LISTING DETAILS
1.713.465.4646
Keller Williams Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 31557024
Last Updated: 08/25/2020
