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123 Brocks Lane Montgomery, TX 77356

3 Beds 2 Baths 1,514 sqft Built 2017

$216,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
February 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $142.67
  • 3 Days on Market
  • MLS # : 60144997
  • Updated Date : 02/05/2021 at 08:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,514 sqft
  • Baths : 2 full
Listing Agent

Premier Properties

Listing Agent's Description

Beautifully kept home in Montgomery shows like new. Home features a nice open floor plan for easy entertaining. Kitchen has an island, plenty of cabinet space, walk in pantry, stainless appliances, and granite counters. The covered rear patio is great for relaxing. The large master is separated from the other bedrooms and the master bath has a separate tub and shower and double sinks. No back neighbors and no flooding.

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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

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
 

$194,400$237,600$216,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$750
Property Tax -$377
Property Insurance -$115
HOA -$38
Property Management Fees -$99
CASH FLOW
$301

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.

$216,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.78%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$62,990

INVESTMENT

$62,990

Down Payment
$54,000
Rehab Estimate
$5,750
Closing Costs
$3,240

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$750

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,000
Loan Amount $162,000
See What Happens When You Reinvest Cash Flow

9.08

YEARS SAVED

$27,463

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,953

    COMP ESTIMATED VALUE
  • $1.29

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,680
$1,680
RENT COMPS ANALYSIS
  • 123 Brocks Lane Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,514 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.11
    •  
  • 126 Scenic Hills Court Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 2019
    LEASED 01/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.29
    •  
PROPERTY LISTING DETAILS
Vicki Lacy
1.832.585.6879
Premier Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 60144997
Last Updated: 02/05/2021
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