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PROPERTY INFO
FACTS
- Single Family
- Built In 2014
- Price/Sqft : $127.26
- 2 Days on Market
- MLS # : 62747097
- Updated Date : 01/02/2021 at 10:25
CONSTRUCTION
- Beds : 3
- Floor Size : 2,318 sqft
- Baths : 2 full
Listing Agent
Keller Williams Advtge Realty
Listing Agent's Description
Welcome to 123 Forest Heights Way. This home is located in the Forest Heights neighborhood of Woodforest; a stunning community full of parks and trails. This home is situated directly across from Scooter park. Built in 2014, this home boasts 2,318 sq feet with 3 bedrooms, 2 full baths, and a 2 car garage. The open concept is used wonderfully here as the kitchen opens up into the living room and breakfast area so everyone can be together. Kitchen includes gorgeous stainless steel appliances. The home has a private office at the front of the house, so working from home is a breeze. Next to the office is a flex room that could be used as a formal dining room or secondary living room/play area for the kids. This home is located close to Stewart Elementary, a very-new school located in the neighborhood less than a mile away making driving or riding a bike to school a fun family activity. Come see this home before it is gone to start making your own wonderful family memories here.
SEE MORE
- 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: Woodforest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodforest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,100 |
| EXPENSES | Loan Payment | -$1,088 |
| Property Tax | -$593 | |
| Property Insurance | -$161 | |
| HOA | -$96 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$62
|
||
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.
$295,000
PROJECTED PRICE
$2,100
PROJECTED RENT
0.71%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 1.9% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$83,925
LOAN DETAILS
$1,088
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $73,750 |
| Loan Amount | $221,250 |
3.17
YEARS SAVED
$9,048
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,100
LIST RENT -
$0.91
LIST RENT PER SQFT
-
$2,150
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
123 Forest Heights Way Montgomery, TX 2
- 3 beds 2 baths ∙ 2,318 Sqft ∙ Built 2014 3 beds 2 baths ∙ 2,318 Sqft ∙ Built 2014
- Rent
- Rent Per SQFT
- $2,100
- $0.91
-
106 Knollbrook Circle Montgomery, TX 1
- 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 2012
LEASED 12/18/20- Rent
- Rent Per SQFT
- $2,100
- $0.99
-
218 Kinnerly Peak Place Montgomery, TX 3
- 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 4
- 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
-
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
1.936.900.2399
Keller Williams Advtge Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 62747097
Last Updated: 01/02/2021
