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102 Red Eagle Court Montgomery, TX 77316

4 Beds 3 Baths 2,520 sqft Built 2016

INVESTimate

$319,500

List Price

$2,290

$2,061 - $2,519

Rent Est.

$325,443  ( +1.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $126.79
  • 2 Days on Market
  • MLS # : 20477955
  • Updated Date : 08/25/2020 at 17:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,520 sqft
  • Baths : 2 full , 1 half
Listing Agent

Texas Home Group, Realtors

Listing Agent's Description

Gorgeous masterfully built home by Chesmar Homes, in treelined Woodforest Master Planned community, which offers residents resort-like pools, waterslides, pet parks, playgrounds, etc. This Elena plan offers beautiful hardwood floors, open concept living room/kitchen area. Kitchen features 42" cabinets with two pantries, granite breakfast bar island and stainless steel appliances. All Tv's stay along with fridge. New outdoor kitchen with the "Egg" smoker on covered patio, plus Pergola on travertine patio. Come see this magnificent home.

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: Woodforest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k451k

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

Neighborhood: Woodforest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10722693

* 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
Stewart Elementary Primary Unknown 423 31 8
Stewart Elementary Middle Unknown 423 31 8
Conroe High School High Regular 3,480 215 4

Stewart Elementary

  • Education Level: Primary
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Stewart Elementary

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$287,550$351,450$319,500

PURCHASE PRICE

$2,061$2,519$2,290

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$5.0k$10k$15k

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 $2,290
EXPENSES Loan Payment -$1,179
Property Tax -$575
Property Insurance -$173
HOA -$96
Property Management Fees -$99
CASH FLOW
$169

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.

$319,500

PROJECTED PRICE

$2,290

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.86%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,418

INVESTMENT

$90,418

Down Payment
$79,875
Rehab Estimate
$5,750
Closing Costs
$4,793

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,179

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $79,875
Loan Amount $239,625
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$18,536

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,290

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $2,331

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2903$2,3504$2,4505$2,600
$2,600
RENT COMPS ANALYSIS
  • 102 Red Eagle Court Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $0.91
    •  
  • 218 Kinnerly Peak Place Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2015
    property image
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 109 Logan Pass Court Montgomery, TX 3
    • 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2015
    property image
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 122 Grinnell Trail Montgomery, TX 4
    • 4 beds 4 baths ∙ 2,603 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,603 Sqft ∙ Built 2015
    property image
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.94
    •  
  • 107 Aberdeen Pines Court Montgomery, TX 5
    • 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2017
    property image
    LEASED 10/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.96
    •  
PROPERTY LISTING DETAILS
Rebecca Watson
1.713.858.5261
Texas Home Group, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 20477955
Last Updated: 08/25/2020
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