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11535 Shelleys Run Montgomery, TX 77316

4 Beds 4 Baths 2,987 sqft Built 2006

$419,900

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $140.58
  • 3 Days on Market
  • MLS # : 68147288
  • Updated Date : 01/09/2021 at 09:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,987 sqft
  • Baths : 3 full , 1 half
Listing Agent

Cb&a, Realtors

Listing Agent's Description

This is the home you've been searching for! Situated in Grand Lake Estates featuring 4 bedrooms and 3.5 baths on 1 acre. Greeting your entry is a cozy living room offering gas fireplace, open concept to gorgeous kitchen with sparkling granite counters, white cabinets, and breakfast bar. Also attached - breakfast room with backyard views! The formal dining is just steps away. The primary bedroom is swoon-worthy with large windows and primary bath featuring double sinks, soaker tub, and separate shower. All secondary bedrooms located upstairs, as well as secondary baths and spacious gameroom. Enjoy the nature on your covered back patio - plenty of room for kids & pets to play with enough space to add a refreshing pool! Don't miss this opportunity to own in MISD - minutes to Montgomery, Conroe & Lake Conroe.

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: Grand Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k474k

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

Neighborhood: Grand Lake Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10722922

* 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
Keenan Elementary School Primary Regular NA
Oak Hills Junior High School Middle Regular NA
Lake Creek High School High Regular NA

Keenan Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Oak Hills Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$377,910$461,890$419,900

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,458
Property Tax -$699
Property Insurance -$200
HOA -$64
Property Management Fees -$99
CASH FLOW
-$20

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.

$419,900

PROJECTED PRICE

$2,500

PROJECTED RENT

0.60%

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$200k$400k$600k$800k$1.0M$1.2M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M$1.2M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$117,024

INVESTMENT

$117,024

Down Payment
$104,975
Rehab Estimate
$5,750
Closing Costs
$6,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,458

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $104,975
Loan Amount $314,925
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$7,365

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,479

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2953$2,5004$2,850
$2,850
RENT COMPS ANALYSIS
  • 11535 Shelleys Run Montgomery, TX 3
    • 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.84
    •  
  • 205 Climbing Oaks Place Montgomery, TX 1
    • 3 beds 3 baths ∙ 2,930 Sqft ∙ Built 2015 3 beds 3 baths ∙ 2,930 Sqft ∙ Built 2015
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.75
    •  
  • 143 N Greatwood Glen Place Montgomery, TX 2
    • 4 beds 4 baths ∙ 2,903 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,903 Sqft ∙ Built 2015
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,295
    • $0.79
    •  
  • 7535 Millies Run Road Montgomery, TX 4
    • 5 beds 3 baths ∙ 3,003 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,003 Sqft ∙ Built 2002
    LEASED 09/09/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.95
    •  
PROPERTY LISTING DETAILS
Lauren Dauzat
1.832.573.3610
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 68147288
Last Updated: 01/09/2021
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