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23 Laguna Road Montgomery, TX 77356

4 Beds 3 Baths 2,675 sqft Built 1997

INVESTimate

$254,900

List Price

$2,100

$1,890 - $2,310

Rent Est.

$278,147  ( +9.12%)   1 YR EST. FORECAST

PROPERTY INFO

August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $95.29
  • 7 Days on Market
  • MLS # : 21674065
  • Updated Date : 08/23/2020 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,675 sqft
  • Baths : 2 full , 1 half
Listing Agent

Connect Realty

Listing Agent's Description

BEAUTIFUL GOLF COURSE HOME IN "MARGARITTAVILLE" ON PRIVATE GOLF COURSE POND WITH GORGEOUS VIEWS! This home is terrific for a family; 4 bedrooms (Master down, all others up), gameroom up, backyard deck, located on a pond that's great for fishing, golf course lot, high ceilings, lots of windows, new roof in 2015, new AC units!

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: Del Lago

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Del Lago

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722272

* 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
Madeley Ranch Elementary School Primary Regular 594 37 7
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Madeley Ranch Elementary School

  • Education Level: Primary
  • # of students: 594
  • # of teachers: 37
7
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
 

$229,410$280,390$254,900

PURCHASE PRICE

$1,890$2,310$2,100

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,100
EXPENSES Loan Payment -$940
Property Tax -$446
Property Insurance -$182
HOA -$63
Property Management Fees -$99
CASH FLOW
$371

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.

$254,900

PROJECTED PRICE

$2,100

PROJECTED RENT

0.82%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 9.12%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$73,299

INVESTMENT

$73,299

Down Payment
$63,725
Rehab Estimate
$5,750
Closing Costs
$3,824

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$940

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,725
Loan Amount $191,175
See What Happens When You Reinvest Cash Flow

9.17

YEARS SAVED

$38,284

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,100

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,073

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,825
1$1,8252$2,0003$2,1004$2,2005$2,300
$2,300
RENT COMPS ANALYSIS
  • 23 Laguna Road Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 80 La Costa Drive Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,569 Sqft ∙ Built 2007
    LEASED 10/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.71
    •  
  • 13707 Fountainview Drive Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,651 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,651 Sqft ∙ Built 1996
    LEASED 07/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.75
    •  
  • 19 Alba Road Montgomery, TX 4
    • 4 beds 4 baths ∙ 3,010 Sqft ∙ Built 2005 4 beds 4 baths ∙ 3,010 Sqft ∙ Built 2005
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.73
    •  
  • 35 La Costa Drive Montgomery, TX 5
    • 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1983 3 beds 3 baths ∙ 2,519 Sqft ∙ Built 1983
    LEASED 07/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.91
    •  
PROPERTY LISTING DETAILS
Anne Marie Robinson
1.832.725.6959
Connect Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 21674065
Last Updated: 08/23/2020
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