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16614 Meadowcroft Montgomery, TX 77316

3 Beds 2 Baths 1,110 sqft Built 2021

$155,900

List Price

$1,060

$954 - $1.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 05, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $140.45
  • 4 Days on Market
  • MLS # : 83171769
  • Updated Date : 03/04/2021 at 19:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,110 sqft
  • Baths : 2 full
Listing Agent

Re/max Signature

Listing Agent's Description

New construction by Quality Custom Homes! Single story 3 bed 2 bath beauty with a multi-purpose bonus room connected to the primary bedroom! Large open-concept living area with lots of natural light and high vaulted ceilings which provide a wonderful sense of space. Eye catching wood look tile floors in main living areas with high quality fixtures throughout. The kitchen boasts a fresh modern look with gorgeous granite countertops, and breakfast bar, beautiful wood cabinets, large pantry for storage, and stainless steel appliances. The primary bath has a very nice shower with a calming spa feel, and just wait till you see the backyard which has a spacious covered back patio for your enjoyment. You've got to see this home in person! PLEASE NOTE: Photos are of one of their sold homes but this home will be the same floor plan and quality. Put it under contract quickly to customize the home just for you!

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: Lake Conroe Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $62k298k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Lake Conroe Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $6112163

* 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
7
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
 

$140,310$171,490$155,900

PURCHASE PRICE

$954$1,166$1,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,060
EXPENSES Loan Payment -$542
Property Tax -$259
Property Insurance -$91
HOA -$33
Property Management Fees -$99
CASH FLOW
$36

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$155,900

PROJECTED PRICE

$1,060

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 3.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

PROJECTED ANNUAL CASH FLOW

11530-$1.0k$0.0$1.0k$2.0k$3.0k$4.0k$5.0k$6.0k$7.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$43,314

INVESTMENT

$43,314

Down Payment
$38,975
Rehab Estimate
$2,000
Closing Costs
$2,339

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$542

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,975
Loan Amount $116,925
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$5,294

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,060

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,160

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,060
1$1,0602$1,2003$1,2504$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 16614 Meadowcroft Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,110 Sqft ∙ Built 2021
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,060
    • $0.95
    •  
  • 16697 E Hammon Montgomery, TX 2
    • 3 beds 3 baths ∙ 1,240 Sqft ∙ Built 2017 3 beds 3 baths ∙ 1,240 Sqft ∙ Built 2017
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $0.97
    •  
  • 115 Delaware Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 2004
    property image
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.11
    •  
  • 159 Snug Harbor Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2004
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 145 Snug Harbor Drive Conroe, TX 5
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2002
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
PROPERTY LISTING DETAILS
Estella Dawson
1.281.782.5950
Re/max Signature
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83171769
Last Updated: 03/04/2021
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