Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

123 Forest Heights Way Montgomery, TX 77316

3 Beds 2 Baths 2,318 sqft Built 2014

$295,000

List Price

$2,100

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

January 02, 2021 RECENTLY ADDED
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

MARKET HIGHLIGHTS

  • 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

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
 

$265,500$324,500$295,000

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

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

ASSUMPTIONS

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,088

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

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
$2,100
1$2,1002$2,1003$2,2004$2,2505$2,450
$2,450
RENT COMPS ANALYSIS
  • 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
Tiffany Albert
1.936.900.2399
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 #: 62747097
Last Updated: 01/02/2021
BESbswy