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231 Hampton Glen Road Montgomery, TX 77356

4 Beds 2 Baths 1,900 sqft Built 2019

$269,900

List Price

$1,810

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $142.05
  • 10 Days on Market
  • MLS # : 92853058
  • Updated Date : 03/03/2021 at 13:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,900 sqft
  • Baths : 2 full
Listing Agent

Re/max Distinction

Listing Agent's Description

Almost new home with little to none wear and tear. Young professional who traveled for work has been transferred. Owner's loss is your gain. Great location with a 24 hour monitored security gate. Home is immaculate with 4 bedrooms and with 2 full baths. Kitchen centrally located which is open to family room and dining area. Kitchen has tons of cabinets and storage. Closets are a great size for all the bedrooms. This home has tall windows with lets in lots of light. Well maintained. Fenced back yard.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$242,910$296,890$269,900

PURCHASE PRICE

$1,629$1,991$1,810

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,810
EXPENSES Loan Payment -$937
Property Tax -$523
Property Insurance -$137
HOA -$91
Property Management Fees -$99
CASH FLOW
$23

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.

$269,900

PROJECTED PRICE

$1,810

PROJECTED RENT

0.67%

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-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$77,274

INVESTMENT

$77,274

Down Payment
$67,475
Rehab Estimate
$5,750
Closing Costs
$4,049

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$937

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $67,475
Loan Amount $202,425
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$5,179

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,810

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,777

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,8103$1,9754$1,9755$2,000
$2,000
RENT COMPS ANALYSIS
  • 231 Hampton Glen Road Montgomery, TX 2
    • 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2019 4 beds 3 baths ∙ 1,900 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $1,810
    • $0.95
    •  
  • 206 Clear Water Street Montgomery, TX 1
    • 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 2004 4 beds 2 baths ∙ 1,650 Sqft ∙ Built 2004
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.97
    •  
  • 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
    •  
  • 12 Marina Way Montgomery, TX 5
    • 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2005
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cecilia Whitaker
1.713.898.2788
Re/max Distinction
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 92853058
Last Updated: 03/03/2021
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