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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $102.17
- 2 Days on Market
- MLS # : 41572286
- Updated Date : 01/23/2021 at 12:21
CONSTRUCTION
- Beds : 3
- Floor Size : 2,161 sqft
- Baths : 3 full
Listing Agent
Olde Homestead Properties Of
Listing Agent's Description
Great find in April Sound, offers 24/7 manned gated community. Home offers water view and access to the lake, but not on the lake. Back of the home has lots of windows to bring in natural light. A double sided fireplace between the living room and the primary bedroom. Lots of custom build-ins in the living and primary room and dining area. Over-size laundry room. Large island in the kitchen with views to the backyard and lake. Primary bathroom has double sinks, separate tub & shower and walk-in closet. Second floor has bedroom with views of the lake. Attic area may be used as a Texas Basement or convert into another bedroom or game room. On exterior of home, three sides are brick. On the back, the patio extends from one side to the other with a staircase down to the backyard. Water access is just steps away. Amenities offered are pools, golfing, tennis, marina, restaurant and more. ***April Sound requires viewers to be accompanied with a realtor.
SEE MORE
- 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: April Sound
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: April Sound
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,890 |
| EXPENSES | Loan Payment | -$767 |
| Property Tax | -$444 | |
| Property Insurance | -$152 | |
| HOA | -$73 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$355
|
||
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.
$220,800
PROJECTED PRICE
$1,890
PROJECTED RENT
0.86%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 3.7% |
| 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
$64,262
LOAN DETAILS
$767
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 3.75% |
| Down Payment | $55,200 |
| Loan Amount | $165,600 |
9.5
YEARS SAVED
$30,109
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,890
LIST RENT -
$0.87
LIST RENT PER SQFT
-
$1,885
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
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140 Harbour Town Circle Montgomery, TX 4
- 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,161 Sqft ∙ Built 1994
- Rent
- Rent Per SQFT
- $1,890
- $0.87
-
100 Harbour Town Court Conroe, TX 1
- 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1980 3 beds 3 baths ∙ 2,060 Sqft ∙ Built 1980
LEASED 11/01/20- Rent
- Rent Per SQFT
- $1,800
- $0.87
-
93 April Wind Drive Conroe, TX 2
- 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 1978 3 beds 2 baths ∙ 2,092 Sqft ∙ Built 1978
LEASED 10/17/20- Rent
- Rent Per SQFT
- $1,800
- $0.86
-
119 Capetown Lane Conroe, TX 3
- 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2003
LEASED 05/01/20- Rent
- Rent Per SQFT
- $1,850
- $0.82
-
12406 Lakeview Drive Montgomery, TX 5
- 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,030 Sqft ∙ Built 2012
LEASED 12/12/20- Rent
- Rent Per SQFT
- $1,900
- $0.94
PROPERTY LISTING DETAILS
1.281.356.8470
Olde Homestead Properties Of
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 41572286
Last Updated: 01/23/2021
