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199 Brocks Lane Montgomery, TX 77356

3 Beds 2 Baths 1,262 sqft Built 2017

$205,000

List Price

$1,520

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2017
  • Price/Sqft : $162.44
  • 19 Days on Market
  • MLS # : 95750001
  • Updated Date : 12/30/2020 at 11:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,262 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Premier Realty

Listing Agent's Description

Gently lived in 1 story, 3 bed 2 bath home built by Stylecraft Builders. This home was the 2nd home built in this development and is in near perfect condition. Home features an open concept floorplan, while in the kitchen you can engage with your guests in the living or eating area. Wood look vinyl floor in the living area and tile in bathroom and laundry room make this an easy home to maintain. Carpet in bedrooms is in like new condition. Beautifully landscaped back yard features a sprinkler system and is very inviting...calling you to fire up that BBQ pit. Primary bathroom features a huge walk in closet. Granite countertops throughout the home. If you are looking for a nearly new home and ready to go, this would be a great starter home or investment property that needs nothing to move in.

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MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 77356

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Zip Code: 77356

ZipNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722163

* 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
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,368$1,672$1,520

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,520
EXPENSES Loan Payment -$756
Property Tax -$341
Property Insurance -$100
HOA -$35
Property Management Fees -$99
CASH FLOW
$189

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.

$205,000

PROJECTED PRICE

$1,520

PROJECTED RENT

0.74%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$756

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$20,182

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,520

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $1.27

    COMP AVG. RENT PER SQFT
Comps Range
$1,520
1$1,5202$1,625
$1,625
RENT COMPS ANALYSIS
  • 199 Brocks Lane Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,262 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,520
    • $1.20
    •  
  • 126 Scenic Hills Court Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,275 Sqft ∙ Built 2019
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.27
    •  
PROPERTY LISTING DETAILS
Steven Girgenti
1.713.254.6239
Keller Williams Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95750001
Last Updated: 12/30/2020
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