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153 Pine Crest Circle Montgomery, TX 77316

5 Beds 4 Baths 2,899 sqft Built 2014

$340,000

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2014
  • Price/Sqft : $117.28
  • 2 Days on Market
  • MLS # : 39936031
  • Updated Date : 01/30/2021 at 08:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,899 sqft
  • Baths : 4 full
Listing Agent

Village Realty

Listing Agent's Description

LIFESTYLE, LOCATION AND CONVENIENCE! This impressive, sought after 5/4/2 home is nestled in the forested master planned community of Woodforest ensuring of bringing nature right at your doorstep. This home incorporates a spacious, open-concept floorplan, stone fireplace, and 4 comfortably sized secondary bedrms. Attractive high ceilings, custom paint, and decorator touches lend an air of sophistication & beauty throughout the home. The gourmet kitchen accentuates a sleek granite countertop, GE stainless steel appliances, 42” cabinetry, breakfast bar & corner pantry. Relax & unwind in the luxurious primary suite with bay window, trey ceiling & huge walk-in closet with separate garden tub & shower. Upstairs you will find an enormous gamerm with a flex area, a bedroom & full bath. Mud room, covered patio, sprinkler system & tankless water heater completes the package. Enjoy Texas spring and summer evenings in the sizeable, covered patio. Properties in this location are snatched up fast!

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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: 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
 

$306,000$374,000$340,000

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,181
Property Tax -$664
Property Insurance -$194
HOA -$96
Property Management Fees -$99
CASH FLOW
$255

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.

$340,000

PROJECTED PRICE

$2,490

PROJECTED RENT

0.73%

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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

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$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$20,931

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,653

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$2,250
1$2,2502$2,4003$2,4504$2,4905$2,850
$2,850
RENT COMPS ANALYSIS
  • 153 Pine Crest Circle Montgomery, TX 4
    • 5 beds 4 baths ∙ 2,899 Sqft ∙ Built 2014 5 beds 4 baths ∙ 2,899 Sqft ∙ Built 2014
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.86
    •  
  • 107 Forest Heights Way Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,568 Sqft ∙ Built 2015
    LEASED 08/12/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.88
    •  
  • 149 Pine Crest Circle Montgomery, TX 2
    • 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
    •  
  • 122 Grinnell Trail Montgomery, TX 3
    • 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
    •  
  • 139 N Greatwood Glen Place Montgomery, TX 5
    • 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2015 4 beds 3 baths ∙ 3,080 Sqft ∙ Built 2015
    LEASED 01/28/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Joy Padvorac
1.832.326.5918
Village Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39936031
Last Updated: 01/30/2021
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