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118 Grinnell Trail Montgomery, TX 77316

4 Beds 3 Baths 2,483 sqft Built 2015

INVESTimate

$282,000

List Price

$2,240

$2,016 - $2,464

Rent Est.

$287,245  ( +1.86%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2015
  • Price/Sqft : $113.57
  • 6 Days on Market
  • MLS # : 20843679
  • Updated Date : 08/25/2020 at 09:19
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,483 sqft
  • Baths : 3 full
Listing Agent

Cb & A, Realtors

Listing Agent's Description

Lovely one and a half story home in the highly sought after master planned community of Woodforest! This home has had one owner, and is waiting for YOU to be the second! Four bedrooms, three bathrooms, formal dining area, beautiful kitchen with an island..... PLUS one of the bedrooms is in the upstairs half story, with en suite bath! Perfect for use as a mother-in-law suite or guest quarters! Large covered back patio is perfect for entertaining! This home has a full house water softner, with under kitchen sink reverse osmosis drinking system. All new carpet has just been installed, as well as new flooring in the formal dining room. You will not want to miss this opportunity to own this charming home! Call to schedule your showing today!

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: Woodforest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $113k451k

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

Neighborhood: Woodforest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q212001400160018002000220024002600Rent in $10722693

* 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 Elementary Primary Unknown 423 31 8
Stewart Elementary Middle Unknown 423 31 8
Conroe High School High Regular 3,480 215 4

Stewart Elementary

  • Education Level: Primary
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Stewart Elementary

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$253,800$310,200$282,000

PURCHASE PRICE

$2,016$2,464$2,240

RENT

DOWN PAYMENT
FINANCING

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$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,240
EXPENSES Loan Payment -$1,040
Property Tax -$576
Property Insurance -$170
HOA -$96
Property Management Fees -$99
CASH FLOW
$258

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.

$282,000

PROJECTED PRICE

$2,240

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.86%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$80,480

INVESTMENT

$80,480

Down Payment
$70,500
Rehab Estimate
$5,750
Closing Costs
$4,230

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,040

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $70,500
Loan Amount $211,500
See What Happens When You Reinvest Cash Flow

6.42

YEARS SAVED

$24,012

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,240

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,247

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2403$2,2504$2,3505$2,450
$2,450
RENT COMPS ANALYSIS
  • 118 Grinnell Trail Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,483 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,240
    • $0.90
    •  
  • 218 Kinnerly Peak Place Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,441 Sqft ∙ Built 2015
    LEASED 03/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.90
    •  
  • 107 Forest Heights Way Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2015
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 109 Logan Pass Court Montgomery, TX 4
    • 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,617 Sqft ∙ Built 2015
    LEASED 08/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.90
    •  
  • 122 Grinnell Trail Montgomery, TX 5
    • 4 beds 4 baths ∙ 2,603 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,603 Sqft ∙ Built 2015
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Rachel May
1.307.371.6228
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 #: 20843679
Last Updated: 08/25/2020
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