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106 Abner Lane Montgomery, TX 77356

4 Beds 4 Baths 1,988 sqft Built 2015

$282,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 28, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $142.30
  • 4 Days on Market
  • MLS # : 97211709
  • Updated Date : 01/28/2021 at 13:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,988 sqft
  • Baths : 3 full , 1 half
Listing Agent

Champions Real Estate Group

Listing Agent's Description

You do not want to miss out on this single story, 4 bedroom, 3.5 bath with a study and a 3 car garage! Conveniently located in the heart of Montgomery, this beautiful 2015 home features SS appliances, granite countertops, gorgeous cream cabinetry, a neutral color scheme, fireplace, built ins, and is move in ready! The maintenance fee covers mowing (front and back) as well as mulching once a year in the spring. Close to everything but still has a small town feel, this home does not disappoint!

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

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
 

$254,610$311,190$282,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$983
Property Tax -$500
Property Insurance -$143
HOA -$100
Property Management Fees -$99
CASH FLOW
$166

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.

$282,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$80,719

INVESTMENT

$80,719

Down Payment
$70,725
Rehab Estimate
$5,750
Closing Costs
$4,244

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$983

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $70,725
Loan Amount $212,175
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$14,651

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,769

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,7753$1,8754$1,990
$1,990
RENT COMPS ANALYSIS
  • 106 Abner Lane Montgomery, TX 4
    • 4 beds 4 baths ∙ 2,010 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,010 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.99
    •  
  • 435 Terra Vista Circle Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,796 Sqft ∙ Built 2018
    property image
    LEASED 03/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.85
    •  
  • 427 Terra Vista Circle Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,845 Sqft ∙ Built 2018
    property image
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.96
    •  
  • 438 Terra Vista Circle Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,246 Sqft ∙ Built 2018
    property image
    LEASED 01/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.83
    •  
PROPERTY LISTING DETAILS
Bradley Gillespie
1.281.299.8085
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 97211709
Last Updated: 01/28/2021
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