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186 Climbing Oaks Place Montgomery, TX 77316

3 Beds 2 Baths 2,318 sqft Built 2015

$364,900

List Price

$2,220

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $157.42
  • 3 Days on Market
  • MLS # : 65661179
  • Updated Date : 03/20/2021 at 13:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,318 sqft
  • Baths : 2 full
Listing Agent

Integrity Texas Properties

Listing Agent's Description

Exquisite one story with incredible curb appeal & custom landscaping is located in the master planned golf course community of Woodforest. Hard to find premium over-sized lot backing to a reserve with no back neighbors. Elegant entry greets you with 11 foot coffered ceilings, over-sized study with french doors, upgraded tile flooring throughout all of the main entry/living space w/wood floors in the study & formal dining. Your dream kitchen awaits you w/granite counters, neutral backsplash, 42" cabinets with under cabinet lighting, decorative vent a hood, & stainless appliances (refrigerator included). Primary suite with a wall of windows and beautiful spa-like bath with fully upgraded shower, separate garden tub & huge closet. This home has surround sound & storage galore...every bedroom has a walk-in closet! Don't miss the extended covered patio & custom landscaped private backyard that is a true extension of this home and great for entertaining! Washer & Dryer also included.

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: 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
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4
Peet Junior High School Middle Unknown NA

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating

Peet Junior High School

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

$328,410$401,390$364,900

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,267
Property Tax -$607
Property Insurance -$161
HOA -$96
Property Management Fees -$99
CASH FLOW
-$10

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.

$364,900

PROJECTED PRICE

$2,220

PROJECTED RENT

0.61%

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$900k

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$102,449

INVESTMENT

$102,449

Down Payment
$91,225
Rehab Estimate
$5,750
Closing Costs
$5,474

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,267

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $91,225
Loan Amount $273,675
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$6,497

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,272

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,2203$2,3954$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 186 Climbing Oaks Place Montgomery, TX 2
    • 3 beds 2 baths ∙ 2,318 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,318 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.96
    •  
  • 106 Knollbrook Circle Montgomery, TX 1
    • 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,124 Sqft ∙ Built 2012
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 114 Grinnell Trail Montgomery, TX 3
    • 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2015
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.08
    •  
  • 149 Pine Crest Circle Montgomery, TX 4
    • 4 beds 4 baths ∙ 2,635 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,635 Sqft ∙ Built 2014
    LEASED 10/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 122 Grinnell Trail Montgomery, TX 5
    • 4 beds 4 baths ∙ 2,603 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,603 Sqft ∙ Built 2015
    LEASED 09/27/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.94
    •  
PROPERTY LISTING DETAILS
Amy Hersey
1.281.323.8872
Integrity Texas Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 65661179
Last Updated: 03/20/2021
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