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238 Capriccio Lane Montgomery, TX 77316

4 Beds 4 Baths 2,571 sqft Built 2019

$350,000

List Price

$2,320

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

Built 2019 NEW CONSTRUCTION
November 12, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $136.13
  • 4 Days on Market
  • MLS # : 66477735
  • Updated Date : 11/13/2020 at 11:03
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,571 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max Elite Properties

Listing Agent's Description

Charming two story home featuring 4 Bedrooms, 3 baths, 1 half bath, 3 car garage and so much more! The spacious family room is open to the kitchen and breakfast room. Home features a beautiful kitchen island with enough space for an eating area. The private master suite features separate bowl vanities, a soaker tub, a separate shower, and a spacious walk-in closet. Upstairs is the media room, game room complete with a full bath, and a Jack-and-Jill bathroom. A covered patio is perfect for outdoor entertaining. Enjoy what Woodforest has to offer with a growing neighborhood with activities for kids including soccer, golf, tennis, swim team, bike trails, parks, pools and much more!

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
Lone Star Elementary School Primary Regular 867 48 8
Oak Hills Junior High School Middle Regular NA
Lake Creek High School High Regular NA

Lone Star Elementary School

  • Education Level: Primary
  • # of students: 867
  • # of teachers: 48
8
GreatSchools Rating

Oak Hills Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$315,000$385,000$350,000

PURCHASE PRICE

$2,088$2,552$2,320

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,320
EXPENSES Loan Payment -$1,291
Property Tax -$695
Property Insurance -$176
HOA -$96
Property Management Fees -$99
CASH FLOW
-$36

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$350,000

PROJECTED PRICE

$2,320

PROJECTED RENT

0.66%

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) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$94,750

INVESTMENT

$94,750

Down Payment
$87,500
Rehab Estimate
$2,000
Closing Costs
$5,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,291

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $87,500
Loan Amount $262,500
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$5,665

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,320

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,269

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,1003$2,3204$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 238 Capriccio Lane Montgomery, TX 3
    • 4 beds 4 baths ∙ 2,571 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,571 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,320
    • $0.90
    •  
  • 122 Colton Court Montgomery, TX 1
    • 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 2013 3 beds 3 baths ∙ 2,466 Sqft ∙ Built 2013
    LEASED 07/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.85
    •  
  • 275 Capriccio Lane Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,456 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,456 Sqft ∙ Built 2018
    LEASED 10/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.86
    •  
  • 114 Kohen Court Montgomery, TX 4
    • 3 beds 3 baths ∙ 2,596 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,596 Sqft ∙ Built 2012
    LEASED 05/23/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.92
    •  
  • 182 Jaxxon Pointe Drive Montgomery, TX 5
    • 4 beds 4 baths ∙ 2,790 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,790 Sqft ∙ Built 2013
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.90
    •  
PROPERTY LISTING DETAILS
Renee Leslie-buckhoff
1.281.639.5982
Re/max Elite Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 66477735
Last Updated: 11/13/2020
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