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161 Jaxxon Pointe Drive Montgomery, TX 77316

3 Beds 3 Baths 2,200 sqft Built 2013

$295,000

List Price

$2,310

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $134.09
  • 3 Days on Market
  • MLS # : 80227994
  • Updated Date : 01/09/2021 at 23:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,200 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

Turn Key! This beautiful home has 3 bedrooms plus an office, and 3 full bathrooms. The light and neutral colors of this home pair wonderfully with the upgraded flooring, 6" baseboards, and crown moulding. The open concept kitchen flows into the breakfast area and family room making entertaining a breeze. Gorgeous kitchen comes with SS appliances, granite countertops, and rich wood cabinets. The family room has gigantic windows to allow plenty of natural light in and features a limestone gas log fireplace. Inside the primary bedroom, is a wonderful high ceiling outlined with crown moulding and oversized windows. The luxurious primary bath suite has dual sinks, a relaxing garden tub and separate shower. Home includes a whole home water softener system by RainSoft, a tankless on-demand water heater, and towering 8 foot doors throughout. Relax in the backyard under a covered patio, or step out further underneath the pergola to enjoy the Texas evenings! Come see this home before its gone!

SEE MORE

MARKET HIGHLIGHTS

  • 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: 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
Lone Star Elementary School Primary Regular 867 48 8
Oak Hills Junior High School Middle Regular NA
Lake Creek High School High Regular NA

Lone Star Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 48
8
GreatSchools Rating

Oak Hills Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$265,500$324,500$295,000

PURCHASE PRICE

$2,079$2,541$2,310

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,310
EXPENSES Loan Payment -$1,025
Property Tax -$598
Property Insurance -$154
HOA -$96
Property Management Fees -$99
CASH FLOW
$338

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.

$295,000

PROJECTED PRICE

$2,310

PROJECTED RENT

0.78%

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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$83,925

INVESTMENT

$83,925

Down Payment
$73,750
Rehab Estimate
$5,750
Closing Costs
$4,425

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$1,025

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $73,750
Loan Amount $221,250
See What Happens When You Reinvest Cash Flow

7.33

YEARS SAVED

$27,615

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,310

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $2,376

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3103$2,3504$2,3955$2,500
$2,500
RENT COMPS ANALYSIS
  • 161 Jaxxon Pointe Drive Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,200 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,310
    • $1.05
    •  
  • 183 Sunrise Haven Drive Montgomery, TX 1
    • 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
    •  
  • 246 N Lynx Trail Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,146 Sqft ∙ Built 2019
    property image
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $1.10
    •  
  • 156 Buckeye Drive Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2018
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.09
    •  
  • 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
    property image
    LEASED 12/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $1.16
    •  
PROPERTY LISTING DETAILS
Tiffany Albert
1.936.900.2399
Keller Williams Advtge Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80227994
Last Updated: 01/09/2021
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