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257 Clementine Court Montgomery, TX 77316

3 Beds 2 Baths 2,013 sqft Built 2016

$293,999

List Price

$1,930

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

December 02, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2016
  • Price/Sqft : $146.05
  • 6 Days on Market
  • MLS # : 68155806
  • Updated Date : 12/02/2020 at 10:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,013 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

You will fall in love with this Perry one story home on a cul-de-sac street in Woodforest! Great curb appeal, with a very open floor plan concept, soaring ceilings and beautiful wood tile floors. Plantation shutters in study and primary bathroom. Open concept island kitchen with granite counters, breakfast bar, stainless steel appliances, and beautiful tile back splash, overlooks the breakfast room and living room where you look through a wall of windows into the gorgeous backyard and patio. Private study; three bedrooms and 2 baths. The fenced yard features beautiful plants, lush landscaping and great space for entertainment!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
Stewart Elementary Primary Unknown 423 31 8
Stewart Elementary Middle Unknown 423 31 8
Conroe High School High Regular 3,480 215 4

Stewart Elementary

  • Education Level: Primary
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Stewart Elementary

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$264,599$323,399$293,999

PURCHASE PRICE

$1,737$2,123$1,930

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,930
EXPENSES Loan Payment -$1,085
Property Tax -$508
Property Insurance -$143
HOA -$96
Property Management Fees -$99
CASH FLOW
-$1

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.

$293,999

PROJECTED PRICE

$1,930

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) 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

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$83,660

INVESTMENT

$83,660

Down Payment
$73,500
Rehab Estimate
$5,750
Closing Costs
$4,410

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,085

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $73,500
Loan Amount $220,499
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,751

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,930

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $2,073

    COMP ESTIMATED VALUE
  • $1.03

    COMP AVG. RENT PER SQFT
Comps Range
$1,930
1$1,9302$1,9503$2,1004$2,1905$2,395
$2,395
RENT COMPS ANALYSIS
  • 257 Clementine Court Montgomery, TX 1
    • 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2016 3 beds 2 baths ∙ 2,013 Sqft ∙ Built 2016
    • Rent
    • Rent Per SQFT
    •  
    • $1,930
    • $0.96
    •  
  • 216 Clementine Court Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,822 Sqft ∙ Built 2016
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $1.07
    •  
  • 194 Kinnerly Peak Place Montgomery, TX 3
    • 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2015 3 beds 2 baths ∙ 2,018 Sqft ∙ Built 2015
    LEASED 06/28/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $1.04
    •  
  • 180 Cherry Oak Lane Montgomery, TX 4
    • 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,350 Sqft ∙ Built 2014
    LEASED 08/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,190
    • $0.93
    •  
  • 114 Grinnell Trail Montgomery, TX 5
    • 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,218 Sqft ∙ Built 2015
    LEASED 01/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,395
    • $1.08
    •  
PROPERTY LISTING DETAILS
Chelsie Vallejo
1.832.381.0598
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 68155806
Last Updated: 12/02/2020
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