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17423 Waterview Drive Montgomery, TX 77356

3 Beds 3 Baths 2,105 sqft Built 2016

$245,000

List Price

$1,860

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2016
  • Price/Sqft : $116.39
  • 11 Days on Market
  • MLS # : 7340671
  • Updated Date : 10/29/2020 at 17:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,105 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Realty

Listing Agent's Description

Beautiful 2 story home located on a quiet street. Upon entry you will find your formal dining room to your left and notice the beautiful tile flooring that flows through out the first floor of the home. Gourmet island kitchen that offers SS appliances, granite counters, abundance of cabinets for storage, and breakfast bar. Kitchen is open to the family room that has a ton of windows that offer in a lot of sunlight, step up ceiling, and tile fireplace. Escape to the spacious master bedroom which also has the step up ceiling and wall to wall windows. Master bath has double sinks, large step in shower, jetted tub, and walk in closet. Upstairs has spacious game-room, secondary bedrooms/closets, and bathroom. Enjoy the nights under your covered patio. Oversized backyard has mature palm trees, storage shed, and room enough to build a pool. Located i highly acclaimed Montgomery school district. Don't let this home get away, it will go fast. Schedule your showing today.

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: Harbor Point

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Harbor Point

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10542163

* 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
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Stewart Creek Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 46
7
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
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,674$2,046$1,860

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,860
EXPENSES Loan Payment -$904
Property Tax -$520
Property Insurance -$149
HOA -$10
Property Management Fees -$99
CASH FLOW
$178

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.

$245,000

PROJECTED PRICE

$1,860

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$904

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$17,758

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,860

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,721

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6323$1,8504$1,8605$1,950
$1,950
RENT COMPS ANALYSIS
  • 17423 Waterview Drive Montgomery, TX 4
    • 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,105 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,860
    • $0.88
    •  
  • 18409 Sunrise Oaks Court Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,079 Sqft ∙ Built 2006
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.77
    •  
  • 18416 Sunrise Oaks Court Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,000 Sqft ∙ Built 2012
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,632
    • $0.82
    •  
  • 119 Capetown Lane Conroe, TX 3
    • 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 9297 Fathom Drive Montgomery, TX 5
    • 3 beds 2 baths ∙ 2,271 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,271 Sqft ∙ Built 2006
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
PROPERTY LISTING DETAILS
Tracy Montgomery
1.713.825.5905
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7340671
Last Updated: 10/29/2020
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