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12327 Longfellow Drive Montgomery, TX 77356

3 Beds 2 Baths 1,854 sqft Built 1991

$210,000

List Price

$1,630

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1991
  • Price/Sqft : $113.27
  • 3 Days on Market
  • MLS # : 86722030
  • Updated Date : 03/05/2021 at 10:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,854 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

A charming, single story home available now in Walden! This great 3 bedroom, 2 bath home has carpet in all bedrooms. High ceiling in the living room with a brick fireplace and opens to the kitchen. The kitchen features a small wrap around breakfast bar and refridgerator is included! Extra large primary bedroom with spacious bathroom. And a small covered patio in the fenced in backyard. Call your Realtor for a showing today! *Additional photos coming soon*

SEE MORE

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

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
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,467$1,793$1,630

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,630
EXPENSES Loan Payment -$729
Property Tax -$402
Property Insurance -$134
HOA -$85
Property Management Fees -$99
CASH FLOW
$181

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.

$210,000

PROJECTED PRICE

$1,630

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$13,986

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,630

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,775

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,630
1$1,6302$1,6953$1,7504$1,8005$2,000
$2,000
RENT COMPS ANALYSIS
  • 12327 Longfellow Drive Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1991 3 beds 2 baths ∙ 1,854 Sqft ∙ Built 1991
    • Rent
    • Rent Per SQFT
    •  
    • $1,630
    • $0.88
    •  
  • 12410 Brightwood Drive Montgomery, TX 2
    • 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
    •  
  • 3238 Glenforest Montgomery, TX 3
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2008
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 3331 Hemingway Drive Montgomery, TX 4
    • 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
    •  
  • 3251 Willowbend Road Montgomery, TX 5
    • 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,876 Sqft ∙ Built 2006
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.07
    •  
PROPERTY LISTING DETAILS
Katelyn Day
1.832.317.6006
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 86722030
Last Updated: 03/05/2021
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