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

16841 Falcon Sound Montgomery, TX 77356

4 Beds 3 Baths 2,834 sqft Built 2020

$379,990

List Price

$2,520

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 10, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $134.08
  • 5 Days on Market
  • MLS # : 76964443
  • Updated Date : 02/10/2021 at 11:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,834 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Grand

Listing Agent's Description

From the moment you open the front door you will be captivated by the high ceilings, 8ft doors, elegant Dining room & winding wrought iron staircase. Awe inspired chef’s kitchen w/white cabinets, island, custom backsplash, gorgeous granite countertops w/cooktop & double ovens! Family room has soaring ceilings w/stone fireplace from the floor to ceiling. Owner’s suite down w/11 ft. ceilings, separate tub & oversized shower w/seat! Separate vanities and his and her closets. Spacious secondary bedrooms and Game room or opt 5th bedroom! HUGE covered back patio, just in time for summertime BBQ's! Community Swimming pool and Pavilion! Highly acclaimed Montgomery ISD schools just minutes from I45 & The Woodlands. The home includes video doorbell, Wi-Fi thermostat, faux wood blinds, front yard sprinkler, structured wiring panel, USB outlets, Media outlets & so much more!

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: Falcon Sound on the Lake

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500kPrice in $105k516k

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

Neighborhood: Falcon Sound on the Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21200140016001800200022002400260028003000Rent in $10423102

* 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
Montgomery Elementary School Primary Regular 765 49 6
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Montgomery Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 49
6
GreatSchools Rating

Montgomery Junior High School

  • Education Level: Middle
  • # of students: 1,276
  • # of teachers: 74
7
GreatSchools Rating

Montgomery High School

  • Education Level: High
  • # of students: 2,362
  • # of teachers: 153
7
GreatSchools Rating
 

$341,991$417,989$379,990

PURCHASE PRICE

$2,268$2,772$2,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,520
EXPENSES Loan Payment -$1,320
Property Tax -$632
Property Insurance -$191
HOA -$50
Property Management Fees -$99
CASH FLOW
$228

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.

$379,990

PROJECTED PRICE

$2,520

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.7%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,697

INVESTMENT

$102,697

Down Payment
$94,998
Rehab Estimate
$2,000
Closing Costs
$5,700

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,320

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $94,998
Loan Amount $284,993
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$24,426

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,520

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,494

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,400
1$2,4002$2,5203$2,7504$2,900
$2,900
RENT COMPS ANALYSIS
  • 16841 Falcon Sound Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2020 4 beds 3 baths ∙ 2,834 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $2,520
    • $0.89
    •  
  • 16857 Falcon Sound Drive Montgomery, TX 1
    • 3 beds 4 baths ∙ 3,089 Sqft ∙ Built 2007 3 beds 4 baths ∙ 3,089 Sqft ∙ Built 2007
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.78
    •  
  • 13997 Teel Road Montgomery, TX 3
    • 3 beds 3 baths ∙ 3,075 Sqft ∙ Built 2005 3 beds 3 baths ∙ 3,075 Sqft ∙ Built 2005
    LEASED 03/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,750
    • $0.89
    •  
  • 16872 Falcon Sound Drive Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,994 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,994 Sqft ∙ Built 2007
    LEASED 09/05/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,900
    • $0.97
    •  
PROPERTY LISTING DETAILS
Grace Harris
1.281.450.1056
Re/max Grand
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76964443
Last Updated: 02/10/2021
BESbswy