Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

2855 Whitman Drive Montgomery, TX 77356

3 Beds 2 Baths 1,422 sqft Built 2006

$205,000

List Price

$1,430

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $144.16
  • 3 Days on Market
  • MLS # : 31465551
  • Updated Date : 03/13/2021 at 14:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,422 sqft
  • Baths : 2 full
Listing Agent

Re/max Integrity

Listing Agent's Description

Adorably well maintained 3/2/2 home in Walden. No back neighbors and walking trail access at the back of the property to the water. Fresh paint and new flooring throughout. Don't miss the fabulous walk in shower in the primary bathroom! The home also features a whole home water filtration system. There is no carpet here! Bring your buyers out today before this one gets away!

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: Walden

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: Walden

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10232163

* 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
 

$184,500$225,500$205,000

PURCHASE PRICE

$1,287$1,573$1,430

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,430
EXPENSES Loan Payment -$712
Property Tax -$392
Property Insurance -$109
HOA -$85
Property Management Fees -$99
CASH FLOW
$32

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.

$205,000

PROJECTED PRICE

$1,430

PROJECTED RENT

0.70%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.0%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$60,075

INVESTMENT

$60,075

Down Payment
$51,250
Rehab Estimate
$5,750
Closing Costs
$3,075

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$712

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $51,250
Loan Amount $153,750
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$4,542

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,430

    LIST RENT
  • $1.01

    LIST RENT PER SQFT
  • $1,554

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4303$1,5604$1,6505$1,650
$1,650
RENT COMPS ANALYSIS
  • 2855 Whitman Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,422 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,430
    • $1.01
    •  
  • 11510 Alcott Drive Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,345 Sqft ∙ Built 2007
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.04
    •  
  • 11618 Alcott Drive Montgomery, TX 3
    • 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,484 Sqft ∙ Built 2019
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.05
    •  
  • 11335 Glenforest Drive Montgomery, TX 4
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2013
    LEASED 10/25/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.14
    •  
  • 11502 Alcott Drive Montgomery, TX 5
    • 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,447 Sqft ∙ Built 2006
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.14
    •  
PROPERTY LISTING DETAILS
Carol Knott Tefft
1.713.253.7812
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31465551
Last Updated: 03/13/2021
BESbswy