Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

156 Buckeye Drive Montgomery, TX 77316

4 Beds 3 Baths 2,188 sqft Built 2018

$288,888

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2018
  • Price/Sqft : $132.03
  • 2 Days on Market
  • MLS # : 51670914
  • Updated Date : 11/02/2020 at 15:43
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,188 sqft
  • Baths : 3 full
Listing Agent

Top Guns Realty On Lake Conroe

Listing Agent's Description

Incredibly well kept, like new, home in Woodforest. Open Floorplan - 12 ft ceilings in entry add elegance. Huge Master with walk in closet. Kitchen has large island and breakfast bar. Guest room, or office/study, has access to private bath and other 2 secondary bedrooms separated by Jack & Jill bathroom. Home is located within 3000 acre master planned community with 11 parks, 13 miles of walking trails, a 16 acre tennis and aquatic center, to name a few. Home is within a short walking distance to Fox Trail Park. No back neighbors.

SEE MORE

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
Rice Elementary School Primary Regular 666 40 4
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Rice Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 40
4
GreatSchools Rating

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
 

$259,999$317,777$288,888

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,066
Property Tax -$622
Property Insurance -$153
HOA -$96
Property Management Fees -$99
CASH FLOW
$114

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.

$288,888

PROJECTED PRICE

$2,150

PROJECTED RENT

0.74%

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$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,305

INVESTMENT

$82,305

Down Payment
$72,222
Rehab Estimate
$5,750
Closing Costs
$4,333

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,066

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,222
Loan Amount $216,666
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$11,967

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $2,139

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1503$2,1904$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 156 Buckeye Drive Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.98
    •  
  • 14381 Whitetop Peak Court Drive Conroe, TX 1
    • 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,038 Sqft ∙ Built 2018
    property image
    LEASED 07/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.03
    •  
  • 180 Cherry Oak Lane Montgomery, TX 3
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014
    property image
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.93
    •  
  • 14211 Irvine Ranch Trail Conroe, TX 4
    • 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,248 Sqft ∙ Built 2019
    property image
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.98
    •  
  • 183 Sunrise Haven Drive Montgomery, TX 5
    • 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,372 Sqft ∙ Built 2017
    property image
    LEASED 08/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
PROPERTY LISTING DETAILS
Keith Robertson
1.936.582.1700
Top Guns Realty On Lake Conroe
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 51670914
Last Updated: 11/02/2020
BESbswy