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12307 Thoreau Drive Montgomery, TX 77356

3 Beds 2 Baths 1,915 sqft Built 2003

$230,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2003
  • Price/Sqft : $120.10
  • 4 Days on Market
  • MLS # : 42877604
  • Updated Date : 10/31/2020 at 00:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,915 sqft
  • Baths : 2 full
Listing Agent

Jla Realty

Listing Agent's Description

Welcome home to this beautiful, spacious 3 bedroom, 2 bath home with an open floor plan in Walden on Lake Conroe. The inviting living room has high ceilings, wood laminate floors and a fire place. The kitchen has a breakfast bar, breakfast area and formal dining. Granite countertops and an island for additional cabinets and counterspace will bring out your inner chef. The foundation was repaired in 2020 with a transferable warranty, and the roof was replaced in 2019. This home is located in the highly desired Montgomery school district. Walden is a resort style community on Lake Conroe, complete with golf course with Café on the Green, lakeview dining and provides many amenities including a pool, tennis courts, fitness center, marina, and much more. Come and schedule your tour.

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: 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$849
Property Tax -$440
Property Insurance -$138
HOA -$79
Property Management Fees -$99
CASH FLOW
$195

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.

$230,000

PROJECTED PRICE

$1,800

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$700k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$849

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

6.25

YEARS SAVED

$18,644

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,853

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,695
1$1,6952$1,8003$1,8004$1,8505$2,000
$2,000
RENT COMPS ANALYSIS
  • 12307 Thoreau Drive Montgomery, TX 3
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.94
    •  
  • 12410 Brightwood Drive Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,874 Sqft ∙ Built 2005
    LEASED 10/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 3331 Hemingway Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,815 Sqft ∙ Built 1999
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.99
    •  
  • 12130 Brightwood Drive Montgomery, TX 4
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2013
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 12215 Walden Road Montgomery, TX 5
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
David Banta Iii
1.281.520.2305
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 42877604
Last Updated: 10/31/2020
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