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163 April Waters Drive Montgomery, TX 77356

3 Beds 2 Baths 2,600 sqft Built 1994

INVESTimate

$259,000

List Price

$2,000

$1,800 - $2,200

Rent Est.

$74,385

Investment Est.

$268,454 ( +3.65%) 1 YR EST. FORECAST

AVAILABLE

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AVAILABLE

1 YEAR
Gross Yield	9.27%
NOI	$10,227

15 YEAR
Yield	5.52%
Appreciation	2.88%
TOTAL RETURN	16.40%

PROPERTY INFO

August 24, 2020 RECENTLY ADDED

FACTS

Built In 1994
Price/Sqft : $99.62
3 Days on Market
MLS # : 93981395
Updated Date : 08/24/2020 at 11:27

CONSTRUCTION

Beds : 3
Floor Size : 2,600 sqft
Baths : 2 full

Listing Agent

Bcs Properties

Listing Agent's Description

This is a 3/2 home located in the gated community of April Sound. It has a fantastic floor plan with beautiful shutters in the home. Large kitchen open to living area, formal dining that could also be used as home office, spacious sunroom that could serve many different purposes. Great master bedroom space with desk and additional storage for clothing. Master bathroom features dual sinks, separate shower/tub and walk in closet. Utility room also has a closet for additional storage. Nice backyard space!

1 of 35 X

MARKET HIGHLIGHTS

Houston Market Report

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)

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

NAME	EDUCATIONAL LEVEL	SCHOOL TYPE	# OF STUDENTS	# OF TEACHERS	GREATSCHOOLS RATING
Stewart Creek Elementary School	Primary	Regular	777	46	7
Oak Hills Junior High School	Middle	Regular			NA
Lake Creek High School	High	Regular			NA

Stewart Creek Elementary School

Education Level: Primary
# of students: 777
# of teachers: 46

GreatSchools Rating

Oak Hills Junior High School

Education Level: Middle
# of students:
# of teachers:

GreatSchools Rating

Lake Creek High School

Education Level: High
# of students:
# of teachers:

GreatSchools Rating

FINANCIALS

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$233,100$284,90000$259,000

PURCHASE PRICE

$1,800$2,20000$2,000

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

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PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$2,000
EXPENSES	Loan Payment	-$956
	Property Tax	-$516
	Property Insurance	-$177
	HOA	-$70
	Property Management Fees	-$99



CASH FLOW $182

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.

$259,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.87%
Appreciation Year (1-5)	3.65%
Maintenance Year (1-5)	8.00%
Vacancy	9.28%
Length of Stay Years	2

TOTAL CASH OUT OF POCKET

INVESTMENT

$74,385

Down Payment	$64,750
Rehab Estimate	$5,750
Closing Costs	$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr

4.25%

25.00%

Down Payment

Term	30 Years
Interest	4.25%
Down Payment	$64,750
Loan Amount	$194,250

See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$17,322

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
$0.77
LIST RENT PER SQFT

$2,022
COMP ESTIMATED VALUE
$0.78
COMP AVG. RENT PER SQFT

Comps Range

$1,850

1$1,8502$1,8953$2,0004$2,1005$2,150

$2,150

RENT COMPS ANALYSIS

2,600
PROPERTY SQFT
$0.78
AVG RENT PER SQFT
$2,022
ESTIMATED VALUE
$2,000
LIST RENT

163 April Waters Drive Montgomery, TX 1

3 beds 2 baths ∙ 2,600 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,600 Sqft ∙ Built 1994
Price

Price Per SQFT

$259,000

$99.62
108 Clear Springs Drive Montgomery, TX 2

3 beds 3 baths ∙ 2,646 Sqft ∙ Built 1993 3 beds 3 baths ∙ 2,646 Sqft ∙ Built 1993
SOLD 04/01/20
Price

Price Per SQFT

$292,000

$110.36
149 Dawns Edge Drive Conroe, TX 3

3 beds 2 baths ∙ 2,307 Sqft ∙ Built 1998 3 beds 2 baths ∙ 2,307 Sqft ∙ Built 1998
SOLD 08/10/20
Price

Price Per SQFT

$293,000

$127.00
208 Springs Edge Drive Montgomery, TX 4

4 beds 4 baths ∙ 2,739 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,739 Sqft ∙ Built 1994
SOLD 04/15/20
Price

Price Per SQFT

$299,900

$109.49
119 Stones Edge Drive Conroe, TX 5

3 beds 3 baths ∙ 2,542 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,542 Sqft ∙ Built 1996
SOLD 06/29/20
Price

Price Per SQFT

$319,500

$125.69

163 April Waters Drive Montgomery, TX 3

3 beds 2 baths ∙ 2,600 Sqft ∙ Built 1994 3 beds 2 baths ∙ 2,600 Sqft ∙ Built 1994
Rent

Rent Per SQFT

$2,000

$0.77
116 Clear Springs Drive Montgomery, TX 1

3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995
LEASED 08/07/20
Rent

Rent Per SQFT

$1,850

$0.71
107 Dawns Edge Montgomery, TX 2

3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,488 Sqft ∙ Built 2004
LEASED 07/10/19
Rent

Rent Per SQFT

$1,895

$0.76
123 Park Way Conroe, TX 4

3 beds 2 baths ∙ 2,666 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,666 Sqft ∙ Built 1999
LEASED 08/10/19
Rent

Rent Per SQFT

$2,100

$0.79
106 April Waters Drive W Drive Conroe, TX 5

4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993
LEASED 08/18/20
Rent

Rent Per SQFT

$2,150

$0.85

PROPERTY LISTING DETAILS

Traci Myers
1.936.522.6633
Bcs Properties

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 93981395
Last Updated: 08/24/2020

163 April Waters Drive Montgomery, TX 77356

INVESTimate

$259,000

$2,000

$74,385

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Stewart Creek Elementary School

Oak Hills Junior High School

Lake Creek High School

FINANCIALS

$233,100$284,90000$259,000

$1,800$2,20000$2,000

Acquisition Concierge

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$259,000

$2,000

0.77%

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$956

5.33

$17,322

$259,000

$99.62

$307,151

$118.14

COMPS RANGE

PRICE COMPS ANALYSIS

$2,000

$0.77

$2,022

$0.78

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS