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10539 Twin Circles Drive Montgomery, TX 77356

3 Beds 2 Baths 1,823 sqft Built 2002

$224,000

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $122.87
  • 3 Days on Market
  • MLS # : 91408986
  • Updated Date : 01/02/2021 at 12:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,823 sqft
  • Baths : 2 full
Listing Agent

M & M Texas Properties

Listing Agent's Description

Come to the Lake and enjoy this beautiful light & bright move in ready 3-2-2 home with fenced back yard and updated paint, floors and counter tops. Cape Conroe is on Lake Conroe in Montgomery Texas, Birth place of the Texas Flag. This home has all the amenities of Cape Conroe including Boat Ramp, Swimming Pool, Club House, playground & fishing pond with pier. There are light restrictions and affordable HOA dues. Great Montgomery Schools for the kids. Easy access to shopping and Hwy105/IH45.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Cape Conroe

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $103k305k

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

Neighborhood: Cape Conroe

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8552163

* 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 Creek Elementary School Primary Regular 777 46 7
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Stewart Creek Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 46
7
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
 

$201,600$246,400$224,000

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$826
Property Tax -$475
Property Insurance -$132
HOA -$17
Property Management Fees -$99
CASH FLOW
$190

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.

$224,000

PROJECTED PRICE

$1,740

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,110

INVESTMENT

$65,110

Down Payment
$56,000
Rehab Estimate
$5,750
Closing Costs
$3,360

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$826

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $56,000
Loan Amount $168,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$18,428

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,732

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,6503$1,7404$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
  • 10539 Twin Circles Drive Montgomery, TX 3
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.95
    •  
  • 10914 Waterview Circle Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1996 3 beds 2 baths ∙ 1,808 Sqft ∙ Built 1996
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.86
    •  
  • 10423 Twin Circles Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,768 Sqft ∙ Built 2012
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 318 Lazy Lane Montgomery, TX 4
    • 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1998 3 beds 2 baths ∙ 1,800 Sqft ∙ Built 1998
    LEASED 12/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.00
    •  
  • 10414 Twin Circles Drive Montgomery, TX 5
    • 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,829 Sqft ∙ Built 2015
    LEASED 04/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $1.01
    •  
PROPERTY LISTING DETAILS
Timothy Martens
1.713.252.1324
M & M Texas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 91408986
Last Updated: 01/02/2021
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