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11606 Alcott Drive Montgomery, TX 77356

3 Beds 2 Baths 1,547 sqft Built 2003

$199,500

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $128.96
  • 5 Days on Market
  • MLS # : 84388613
  • Updated Date : 01/22/2021 at 11:55
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,547 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

Cute 3/2 with 2 car garage at a great price! New ceiling fans in all bedrooms & living room. The Barn door décor accents closet which has been turned into a bar for entertaining is adjacent to dining area .This home appears larger with the crown molding and high ceilings in living area. Personal updates in the bathroom and counter tops makes this a home. Wood floors and Tile floors. Extended patio in back yard. Garage floor coating and organized storage for tools. Within walking distance of the Tennis and fitness center and close proximity to one of Walden's two boat ramps. Walden amenities also include Marina, Yacht Club, huge swimming pool, dog park, and more! Amenity list attached Come check this home out before it's gone!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Walden

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Walden

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10232163

* 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
Madeley Ranch Elementary School Primary Regular 594 37 7
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Madeley Ranch Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 37
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
 

$179,550$219,450$199,500

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$693
Property Tax -$382
Property Insurance -$116
HOA -$79
Property Management Fees -$99
CASH FLOW
$181

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.

$199,500

PROJECTED PRICE

$1,550

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,618

INVESTMENT

$58,618

Down Payment
$49,875
Rehab Estimate
$5,750
Closing Costs
$2,993

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$693

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,875
Loan Amount $149,625
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$14,147

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $1

    LIST RENT PER SQFT
  • $1,640

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5603$1,5954$1,6505$1,900
$1,900
RENT COMPS ANALYSIS
  • 11606 Alcott Drive Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,547 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.00
    •  
  • 11618 Alcott Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2019
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.05
    •  
  • 11223 Burning Tree Drive Montgomery, TX 3
    • 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,700 Sqft ∙ Built 2007
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.94
    •  
  • 11502 Alcott Drive Montgomery, TX 4
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.14
    •  
  • 11626 Alcott Drive Montgomery, TX 5
    • 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,714 Sqft ∙ Built 2002
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $1.11
    •  
PROPERTY LISTING DETAILS
Katherine Maher
1.936.525.0095
Keller Williams Advtge Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84388613
Last Updated: 01/22/2021
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