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260 S Indian Falls South Montgomery, TX 77316

3 Beds 3 Baths 2,100 sqft Built 2000

$255,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2000
  • Price/Sqft : $121.43
  • 20 Days on Market
  • MLS # : 90556698
  • Updated Date : 10/26/2020 at 15:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,100 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lake & Lifestyle Realty

Listing Agent's Description

Look at the sweet home!!! Many updates - flooring, kitchen countertops and backsplash, sink and faucet, and new paint throughout. Located on a spacious lot with quick access to beautiful Lake Conroe. Has a roomy deck for outdoor living for entertaining and relaxing. Has double driveway into attached garage. Front porch is roomy enough for relaxing as well. Make your appointment for a showing today. This could be your "Home Sweet Home" just in time for the holidays.

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: Tejascreek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Neighborhood: Tejascreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800190020002100Rent in $7742163

* 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
 

$229,500$280,500$255,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$941
Property Tax -$424
Property Insurance -$148
HOA -$31
Property Management Fees -$99
CASH FLOW
$76

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.

$255,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.7%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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-$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$73,325

INVESTMENT

$73,325

Down Payment
$63,750
Rehab Estimate
$5,750
Closing Costs
$3,825

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$941

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $63,750
Loan Amount $191,250
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$12,364

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,827

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,7003$1,7204$1,7255$1,780
$1,780
RENT COMPS ANALYSIS
  • 260 S Indian Falls South Montgomery, TX 3
    • 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,100 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.82
    •  
  • 228 Sunset Path Conroe, TX 1
    • 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 2004
    LEASED 09/16/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.85
    •  
  • 305 Finwick Drive Conroe, TX 2
    • 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,968 Sqft ∙ Built 2010
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.86
    •  
  • 240 Indian Falls Conroe, TX 4
    • 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,019 Sqft ∙ Built 2000
    LEASED 10/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.85
    •  
  • 499 Dogwood Trail Conroe, TX 5
    • 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,928 Sqft ∙ Built 2015
    LEASED 10/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.92
    •  
PROPERTY LISTING DETAILS
Angela Reed
1.936.448.6700
Lake & Lifestyle Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 90556698
Last Updated: 10/26/2020
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