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11535 Shelleys Run Montgomery, TX 77316

4 Beds 4 Baths 2,987 sqft Built 2006

$429,900

List Price

$2,620

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

October 28, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $143.92
  • 7 Days on Market
  • MLS # : 68068417
  • Updated Date : 10/28/2020 at 09:16
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,987 sqft
  • Baths : 3 full , 1 half
Listing Agent

Styled Real Estate

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 log 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 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: 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
 

$386,910$472,890$429,900

PURCHASE PRICE

$2,358$2,882$2,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,620
EXPENSES Loan Payment -$1,586
Property Tax -$715
Property Insurance -$200
HOA -$64
Property Management Fees -$99
CASH FLOW
-$44

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.

$429,900

PROJECTED PRICE

$2,620

PROJECTED RENT

0.61%

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$119,674

INVESTMENT

$119,674

Down Payment
$107,475
Rehab Estimate
$5,750
Closing Costs
$6,449

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,586

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $107,475
Loan Amount $322,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$8,712

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,620

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,621

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,295
1$2,2952$2,6203$2,8004$2,8505$2,950
$2,950
RENT COMPS ANALYSIS
  • 11535 Shelleys Run Montgomery, TX 2
    • 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2006 4 beds 4 baths ∙ 2,987 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $2,620
    • $0.88
    •  
  • 143 N Greatwood Glen Place Montgomery, TX 1
    • 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
    •  
  • 148 Jacks Corner Drive Montgomery, TX 3
    • 4 beds 3 baths ∙ 3,280 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,280 Sqft ∙ Built 2015
    LEASED 05/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,800
    • $0.85
    •  
  • 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
    •  
  • 127 Jacks Corner Drive Montgomery, TX 5
    • 4 beds 3 baths ∙ 3,222 Sqft ∙ Built 2016 4 beds 3 baths ∙ 3,222 Sqft ∙ Built 2016
    LEASED 06/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,950
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lauren Dauzat
1.832.573.3610
Styled Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 68068417
Last Updated: 10/28/2020
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