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155 Sunrise Haven Drive Montgomery, TX 77316

3 Beds 2 Baths 2,023 sqft Built 2016

$279,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

January 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $137.91
  • 5 Days on Market
  • MLS # : 83534102
  • Updated Date : 01/21/2021 at 09:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,023 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Don't miss your chance to make this beautiful 3 bedroom, 2 bathroom home yours! Located in the popular neighborhood of Woodforest, surrounded by beautiful woods and expansive trails. This gorgeous single story home is complete with a large open floor plan the flows seamlessly from the kitchen to the living room. Located only 5 miles North of 1488, makes for an easy commute. Don't wait this one will go fast! Book your appointment today!

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
Stewart Elementary Primary Unknown 423 31 8
Stewart Elementary Middle Unknown 423 31 8
Conroe High School High Regular 3,480 215 4

Stewart Elementary

  • Education Level: Primary
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Stewart Elementary

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Conroe High School

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

$251,100$306,900$279,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$969
Property Tax -$588
Property Insurance -$144
HOA -$96
Property Management Fees -$99
CASH FLOW
$104

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.

$279,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.72%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$79,685

INVESTMENT

$79,685

Down Payment
$69,750
Rehab Estimate
$5,750
Closing Costs
$4,185

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$969

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,750
Loan Amount $209,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$8,992

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $2,175

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,0003$2,3004$2,3505$2,500
$2,500
RENT COMPS ANALYSIS
  • 155 Sunrise Haven Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,023 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.99
    •  
  • 216 Clementine Court Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 183 Sunrise Haven Drive Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 2017
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 246 N Lynx Trail Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2019
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.10
    •  
  • 210 Emory Birch Drive Montgomery, TX 5
    • 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,158 Sqft ∙ Built 2018
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Joel Griffin
1.832.655.5757
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83534102
Last Updated: 01/21/2021
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