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21 Carmel Court Montgomery, TX 77356

3 Beds 3 Baths 2,111 sqft Built 1999

$257,250

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $121.86
  • 4 Days on Market
  • MLS # : 7907617
  • Updated Date : 12/18/2020 at 14:13
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,111 sqft
  • Baths : 2 full , 1 half
Listing Agent

Berkshire Hathaway Homeservice

Listing Agent's Description

This home is a beautiful one story on a cul-de-sac street. Close to Lake Conroe with access to three golf courses, two pools, a tennis courts and marina. Country Club membership allows for access to a fitness center, marina, and yacht club. This home features a gorgeous open concept floor plan with plenty of natural light. Kitchen opens up to the living area and includes a vast walk-in pantry and sizable island. Vaulted ceilings and crown molding throughout the house create a sophisticated feel. Breakfast area opens up to a screened porch with tile flooring. Formal dining room featuring chair rails makes for a perfect space to entertain. The spacious master bedroom boasts plantation shutters, a large walk-in closet with built ins, dual vanities, separate shower and whirlpool tub. Extra bedroom could be used as an office or home gym. Recently finished out game/media room! Large fenced backyard with plenty of space to add a pool. 24/7 manned gate for privacy and security.

SEE MORE

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

Neighborhood: Bentwater

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k439k

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

Neighborhood: Bentwater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10722960

* 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
 

$231,525$282,975$257,250

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$949
Property Tax -$499
Property Insurance -$149
HOA -$89
Property Management Fees -$99
CASH FLOW
$145

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.

$257,250

PROJECTED PRICE

$1,930

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.2%
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

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$73,921

INVESTMENT

$73,921

Down Payment
$64,313
Rehab Estimate
$5,750
Closing Costs
$3,859

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$949

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,313
Loan Amount $192,938
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,551

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.91

    LIST RENT PER SQFT
  • $1,932

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,9303$1,9754$1,9755$2,100
$2,100
RENT COMPS ANALYSIS
  • 21 Carmel Court Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 1999 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.91
    •  
  • 16 Marina Way Montgomery, TX 1
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2005
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.85
    •  
  • 24 Amelia Court Montgomery, TX 3
    • 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,036 Sqft ∙ Built 2008
    LEASED 08/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.97
    •  
  • 20 Marina Way Montgomery, TX 4
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2005
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.91
    •  
  • 34 Stanford Montgomery, TX 5
    • 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,257 Sqft ∙ Built 1999
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.93
    •  
PROPERTY LISTING DETAILS
Dane Gates
1.832.654.4795
Berkshire Hathaway Homeservice
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7907617
Last Updated: 12/18/2020
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