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3322 Pine Chase Drive Montgomery, TX 77356

3 Beds 2 Baths 2,201 sqft Built 2002

$249,000

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

January 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $113.13
  • 7 Days on Market
  • MLS # : 34521504
  • Updated Date : 01/25/2021 at 22:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,201 sqft
  • Baths : 2 full
Listing Agent

Sloan-wheeler Real Estate

Listing Agent's Description

PICTURE PERFECT! This spacious one story home sits on a beautiful large lot near Lake Conroe! A split floor plan with open concept living, dining and kitchen. A large master bedroom with vaulted ceiling, new flooring throughout, wood burning fireplace, stainless appliances and granite countertops. A great backyard, mature trees and lots of custom touches claiming HOME SWEET HOME!! Great location for shopping and entertainment. MUST SEE!!

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: 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
 

$224,100$273,900$249,000

PURCHASE PRICE

$1,620$1,980$1,800

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,800
EXPENSES Loan Payment -$865
Property Tax -$499
Property Insurance -$154
HOA -$79
Property Management Fees -$99
CASH FLOW
$104

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.

$249,000

PROJECTED PRICE

$1,800

PROJECTED RENT

0.72%

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$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,735

INVESTMENT

$71,735

Down Payment
$62,250
Rehab Estimate
$5,750
Closing Costs
$3,735

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$865

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,250
Loan Amount $186,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$8,864

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,800

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,970

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,750
1$1,7502$1,8003$1,8504$1,8505$2,250
$2,250
RENT COMPS ANALYSIS
  • 3322 Pine Chase Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 2,201 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,201 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 3238 Glenforest Montgomery, TX 1
    • 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,002 Sqft ∙ Built 2008
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.87
    •  
  • 3130 Fitzgerald Drive Montgomery, TX 3
    • 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,193 Sqft ∙ Built 1999
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.84
    •  
  • 12611 Brontton Court Montgomery, TX 4
    • 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 2004 3 beds 2 baths ∙ 2,181 Sqft ∙ Built 2004
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.85
    •  
  • 3509 Stonehenge Drive Montgomery, TX 5
    • 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,202 Sqft ∙ Built 2006
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $1.02
    •  
PROPERTY LISTING DETAILS
Michael Wheeler
1.936.635.1332
Sloan-wheeler Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 34521504
Last Updated: 01/25/2021
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