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12530 Browning Drive Montgomery, TX 77356

3 Beds 2 Baths 1,838 sqft Built 2000

$238,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 07, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $129.98
  • 3 Days on Market
  • MLS # : 89462509
  • Updated Date : 11/06/2020 at 20:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,838 sqft
  • Baths : 2 full
Listing Agent

Kmb Realty

Listing Agent's Description

Incredibly updated home in sought after Walden Subdivision. New everything. New interior paint, new granite countertops, stainless steel appliances, new light fixtures, new carpet, and new updated master bathroom. Open and bright floor plan. Screened in porch and a short walk from the water. Backyard shed for extra storage. Office can be a fourth bedroom. This home has it all. Don't miss out on this great home.

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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
 

$215,010$262,790$238,900

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 -$881
Property Tax -$397
Property Insurance -$133
HOA -$79
Property Management Fees -$99
CASH FLOW
$90

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.

$238,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.70%

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

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$69,059

INVESTMENT

$69,059

Down Payment
$59,725
Rehab Estimate
$5,750
Closing Costs
$3,584

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$881

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $59,725
Loan Amount $179,175
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$11,307

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
  • $0.91

    LIST RENT PER SQFT
  • $1,686

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,6954$1,7505$1,800
$1,800
RENT COMPS ANALYSIS
  • 12530 Browning Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,838 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.91
    •  
  • 12214 Longfellow Drive Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,827 Sqft ∙ Built 1999
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 12625 Dover Drive Montgomery, TX 3
    • 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,854 Sqft ∙ Built 2006
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.91
    •  
  • 3238 Glenforest Montgomery, TX 4
    • 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 5
    • 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
    •  
PROPERTY LISTING DETAILS
Keith Buchanan
1.281.866.9367
Kmb Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 89462509
Last Updated: 11/06/2020
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