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130 N Greatwood Glen Place Montgomery, TX 77316

4 Beds 3 Baths 2,445 sqft Built 2016

$335,000

List Price

$2,260

$2K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $137.01
  • 3 Days on Market
  • MLS # : 10277867
  • Updated Date : 03/13/2021 at 21:23
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,445 sqft
  • Baths : 3 full
Listing Agent

Cb&a, Realtors

Listing Agent's Description

Beautiful one story with four bedrooms, 3 full baths and 3 car tandem in Woodforest! This home has tile that looks like wood for easy maintenance, plantation shutters and high ceilings for a designer look! Cooks kitchen with ample counterspace, lots of cabinets and gas cooktop! The oversized office space is amazing with French doors for privacy! The office could also be a gameroom, craft room or exercise room, whatever you want to use it for! Spacious primary bedroom with wall of windows letting in natural light! Primary bath has two separate sink areas and separate tub and shower and large walk-in closet! One of the secondary bedrooms has an en-suite for your guests to enjoy and you can also enjoy the extended covered patio with no rear neighbors! Woodforest offers walking trails, market area, sports complex, lily pad splash pad, Forest Island water park, Harvest Market grocery and lots more! Buyer and buyer agent to verify room measurements!

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: 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
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4
Peet Junior High School Middle Unknown NA

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating

Peet Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$301,500$368,500$335,000

PURCHASE PRICE

$2,034$2,486$2,260

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,260
EXPENSES Loan Payment -$1,164
Property Tax -$662
Property Insurance -$168
HOA -$96
Property Management Fees -$99
CASH FLOW
$71

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.

$335,000

PROJECTED PRICE

$2,260

PROJECTED RENT

0.67%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,525

INVESTMENT

$94,525

Down Payment
$83,750
Rehab Estimate
$5,750
Closing Costs
$5,025

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,164

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $83,750
Loan Amount $251,250
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$8,450

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,260

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,256

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,2603$2,4004$2,4505$2,450
$2,450
RENT COMPS ANALYSIS
  • 130 N Greatwood Glen Place Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,445 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,260
    • $0.92
    •  
  • 218 Kinnerly Peak Place Montgomery, TX 1
    • 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
    •  
  • 149 Pine Crest Circle Montgomery, TX 3
    • 4 beds 4 baths ∙ 2,635 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,635 Sqft ∙ Built 2014
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 208 Forest Peak Way Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,596 Sqft ∙ Built 2013
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.94
    •  
  • 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
Leslie Hitt
1.832.651.5015
Cb&a, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10277867
Last Updated: 03/13/2021
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