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PROPERTY INFO
FACTS
- Single Family
- Built In 2004
- Price/Sqft : $126.38
- 4 Days on Market
- MLS # : 50704878
- Updated Date : 12/19/2020 at 17:14
CONSTRUCTION
- Beds : 3
- Floor Size : 1,899 sqft
- Baths : 2 full
Listing Agent
Keller Williams Realty
Listing Agent's Description
Charming one story brick home in Walden on Lake Conroe. The home is 1,899 sq ft and has 3 bedrooms, 2 bath. Large mature trees on a corner lot also with a landscaped and maintained yard! Open Living Room into the large Kitchen and Breakfast room. Has a private study in the front of home and split floorplan with the 2 secondary bedrooms. Update in the home and has wood floors in main living areas. Large kitchen with granite counters and custom backsplash with plenty of cabinet and counter space. Primary bedroom split from the other bedrooms and the primary bathroom has separate shower and tub, and double sinks. Roof replaced in 2018. Amenities for Walden Community include: Fitness center, lap pool, racquet club, hike and bike trails, yacht club and another large pool located right on Lake Conroe, kids baseball and soccer fields. Great living community on Lake Conroe!
SEE MORE
- 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: Walden
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Walden
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,760 |
| EXPENSES | Loan Payment | -$886 |
| Property Tax | -$480 | |
| Property Insurance | -$137 | |
| HOA | -$79 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$79
|
||
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.
$240,000
PROJECTED PRICE
$1,760
PROJECTED RENT
0.73%
PROJECTED RENT / PRICE RATIO
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$69,350
LOAN DETAILS
$886
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $60,000 |
| Loan Amount | $180,000 |
3.58
YEARS SAVED
$9,241
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,760
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$1,766
COMP ESTIMATED VALUE -
$0.93
COMP AVG. RENT PER SQFT
Comps Range
-
13322 Enchanted Way Dr Drive Montgomery, TX 3
- 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,899 Sqft ∙ Built 2004
- Rent
- Rent Per SQFT
- $1,760
- $0.93
-
13421 Raintree Drive Montgomery, TX 1
- 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,802 Sqft ∙ Built 2014
LEASED 09/25/20- Rent
- Rent Per SQFT
- $1,625
- $0.90
-
13221 Enchanted Way Drive Montgomery, TX 2
- 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 2002
LEASED 02/14/20- Rent
- Rent Per SQFT
- $1,650
- $0.92
-
13429 Raintree Drive Montgomery, TX 4
- 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,878 Sqft ∙ Built 2013
LEASED 12/08/20- Rent
- Rent Per SQFT
- $1,800
- $0.96
-
3817 Breckenridge Drive Montgomery, TX 5
- 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,960 Sqft ∙ Built 2020
LEASED 09/01/20- Rent
- Rent Per SQFT
- $1,850
- $0.94
PROPERTY LISTING DETAILS
1.979.575.2131
Keller Williams Realty
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 50704878
Last Updated: 12/19/2020
