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103 Springshed Place Montgomery, TX 77316

4 Beds 3 Baths 2,510 sqft Built 2012

$295,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

December 04, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $117.53
  • 3 Days on Market
  • MLS # : 61285407
  • Updated Date : 12/04/2020 at 08:32
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,510 sqft
  • Baths : 3 full
Listing Agent

Douglas Elliman Real Estate

Listing Agent's Description

Sophisticated simplicity is what this home is all about. A beautiful, brick exterior opens to a spacious, one story home with high ceilings throughout. Four, generously sized bedrooms; two with ensuite bathrooms. A large kitchen with rich, wood cabinetry opens to a warm and inviting den with a lovely, cast stone, corner fireplace. The kitchen offers a breakfast bar, or enjoy your meals in the casual dining space. The owner's retreat boasts a wonderful, en suite bathroom and walk in closet. Outside you'll find a large, covered patio and a fully fenced backyard. A two car garage completes this fabulous home. Located on a corner lot, next to a hike and bike trail. All just a short walk to the dog park, or the new Woodforest Pine Market full of wonderful shopping and dining!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$265,500$324,500$295,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,088
Property Tax -$590
Property Insurance -$172
HOA -$96
Property Management Fees -$99
CASH FLOW
$275

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.

$295,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.9%
Maintenance Year (1-5) 8.00%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

6.5

YEARS SAVED

$26,073

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,485

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3203$2,6004$2,6005$2,800
$2,800
RENT COMPS ANALYSIS
  • 103 Springshed Place Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,510 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.92
    •  
  • 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
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 110 Red Deer Place Montgomery, TX 3
    • 3 beds 3 baths ∙ 2,498 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,498 Sqft ∙ Built 2012
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $1.04
    •  
  • 177 Emory Birch Drive Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,624 Sqft ∙ Built 2018
    LEASED 11/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.99
    •  
  • 161 Riverbend Way Montgomery, TX 5
    • 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,709 Sqft ∙ Built 2012
    LEASED 12/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Renay Cohen
1.713.303.0531
Douglas Elliman Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 61285407
Last Updated: 12/04/2020
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