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213 N Carson Cub Court Montgomery, TX 77316

3 Beds 3 Baths 2,022 sqft Built 2018

$299,000

List Price

$2,190

$2K - $2.4K

Rent Est.

PROPERTY INFO

December 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $147.87
  • 3 Days on Market
  • MLS # : 16528139
  • Updated Date : 12/11/2020 at 21:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,022 sqft
  • Baths : 3 full
Listing Agent

Rick Lamar Real Estate, Llc

Listing Agent's Description

Beautiful Perry home located in the rustic community of Woodforest. Inviting front porch leads to entry with 12-foot ceiling and extended entry with coffered ceiling. Spacious dining area with curved wall of windows opens to island kitchen with walk-in pantry and family room with wall of windows. Hardwood floors flow throughout. Private owner's suite features another wall of windows. Double doors lead to master bath with dual vanities,garden tub,separate glass-enclosed shower and large walk-in closet. Walk-in closets in all bedrooms. Extended covered backyard patio. Mud room off three-car garage. The Woodforest community has a resort style pool, lap pool, splash pad, many parks through out the community,walking and nature trails,and a variety of neighborhood activities. Recently added commercial space which includes Crust Pizza and Roasted Coffee Shop along with a vet, dentist, Harvest Market (coming soon), and so much more. You must tour this home to appreciate all it has to offer.

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: 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
Rice Elementary School Primary Regular 666 40 4
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Rice Elementary School

  • Education Level: Primary
  • # of students: 666
  • # of teachers: 40
4
GreatSchools Rating

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
 

$269,100$328,900$299,000

PURCHASE PRICE

$1,971$2,409$2,190

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,190
EXPENSES Loan Payment -$1,103
Property Tax -$646
Property Insurance -$144
HOA -$96
Property Management Fees -$99
CASH FLOW
$102

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.

$299,000

PROJECTED PRICE

$2,190

PROJECTED RENT

0.73%

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,985

INVESTMENT

$84,985

Down Payment
$74,750
Rehab Estimate
$5,750
Closing Costs
$4,485

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,103

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,750
Loan Amount $224,250
See What Happens When You Reinvest Cash Flow

3.58

YEARS SAVED

$11,467

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,190

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $2,194

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1903$2,2904$2,3955$2,400
$2,400
RENT COMPS ANALYSIS
  • 213 N Carson Cub Court Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,022 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $1.08
    •  
  • 216 Clementine Court Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016
    property image
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 179 Buckeye Drive Montgomery, TX 3
    • 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,995 Sqft ∙ Built 2018
    property image
    LEASED 09/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,290
    • $1.15
    •  
  • 156 Buckeye Drive Montgomery, TX 4
    • 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,188 Sqft ∙ Built 2018
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.09
    •  
  • 107 Cadence Court Montgomery, TX 5
    • 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,334 Sqft ∙ Built 2016
    property image
    LEASED 11/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $1.03
    •  
PROPERTY LISTING DETAILS
Heather Lamar
1.832.483.6407
Rick Lamar Real Estate, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 16528139
Last Updated: 12/11/2020
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