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PROPERTY INFO
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
- 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
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Woodforest
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
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
| 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
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$84,985
LOAN DETAILS
$1,103
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $74,750 |
| Loan Amount | $224,250 |
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
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- $2,190
- $1.08
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216 Clementine Court Montgomery, TX 1
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LEASED 01/15/20- Rent
- Rent Per SQFT
- $1,950
- $1.07
-
179 Buckeye Drive Montgomery, TX 3
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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
-
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- 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
1.832.483.6407
Rick Lamar Real Estate, Llc
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 16528139
Last Updated: 12/11/2020
