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300 Sherwood Forest Street Montgomery, TX 77316

3 Beds 2 Baths 1,252 sqft Built 1997

$169,000

List Price

$1,340

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

November 28, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1997
  • Price/Sqft : $134.98
  • 2 Days on Market
  • MLS # : 50191553
  • Updated Date : 11/28/2020 at 14:00
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,252 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Properties

Listing Agent's Description

This cozy 3 bedroom 2 bathroom home has a welcoming front porch and is situated on a large lot with fenced backyard just minutes from Lake Conroe. Step inside to the open concept living, kitchen dining area. The master bedroom has large walk-in closet and a private bathroom with tile floor, double sinks, large garden tub and separate shower. One of the additional bedrooms is currently being used as an office. All rooms have ceiling fans. Outside you'll find lots of green space, beautiful trees, carport with storage shed, and room for all your outdoor projects. Come take a look and make it your own.

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: Lake Conroe Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $74k298k

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

Neighborhood: Lake Conroe Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $6462163

* 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
Keenan Elementary School Primary Regular NA
Oak Hills Junior High School Middle Regular NA
Lake Creek High School High Regular NA

Keenan Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
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
 

$152,100$185,900$169,000

PURCHASE PRICE

$1,206$1,474$1,340

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,340
EXPENSES Loan Payment -$624
Property Tax -$281
Property Insurance -$99
HOA -$10
Property Management Fees -$99
CASH FLOW
$226

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$169,000

PROJECTED PRICE

$1,340

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.1%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,535

INVESTMENT

$50,535

Down Payment
$42,250
Rehab Estimate
$5,750
Closing Costs
$2,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$624

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,250
Loan Amount $126,750
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$26,993

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,340

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,333

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2993$1,3404$1,3755$1,476
$1,476
RENT COMPS ANALYSIS
  • 300 Sherwood Forest Street Montgomery, TX 3
    • 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,252 Sqft ∙ Built 1997
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.07
    •  
  • 115 Delaware Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 2004
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.11
    •  
  • 206 Tejas Boulevard Conroe, TX 2
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2004
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.10
    •  
  • 318 Somerset Road Conroe, TX 4
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2004
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
  • 151 Snug Harbor Drive Montgomery, TX 5
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2000 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 2000
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,476
    • $1.04
    •  
PROPERTY LISTING DETAILS
Connie Mundy
1.713.870.6685
Coldwell Banker Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 50191553
Last Updated: 11/28/2020
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