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3502 Windhill Lane Montgomery, TX 77356

3 Beds 3 Baths 1,979 sqft Built 2000

$249,500

List Price

$1,800

$1.6K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $126.07
  • 2 Days on Market
  • MLS # : 76674878
  • Updated Date : 02/27/2021 at 16:02
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,979 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

CHARMING home on corner lot in highly sought after Walden on Lake Conroe. Wonderful curb appeal, large fenced backyard, oversized garage with additional parking. The interior boasts wood flooring in dining and living rooms. Carpet in bedrooms, and kitchen appliances updated in 2019. This home is walking distance to the highly acclaimed Madeley Ranch Elementary, neighborhood parks, churches, and several restaraunts. Just some of the amenities include a fitness center (also walking distance), raquet club, boat launches, and a marina. Walden is truly a wonderful place to call home!

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
 

$224,550$274,450$249,500

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 -$867
Property Tax -$478
Property Insurance -$141
HOA -$81
Property Management Fees -$99
CASH FLOW
$134

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.

$249,500

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$12k

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$71,868

INVESTMENT

$71,868

Down Payment
$62,375
Rehab Estimate
$5,750
Closing Costs
$3,743

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$867

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,375
Loan Amount $187,125
See What Happens When You Reinvest Cash Flow

4.58

YEARS SAVED

$11,324

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
  • $0.91

    LIST RENT PER SQFT
  • $1,930

    COMP ESTIMATED VALUE
  • $0.98

    COMP AVG. RENT PER SQFT
Comps Range
$1,800
1$1,8002$1,8353$1,8504$1,8955$2,000
$2,000
RENT COMPS ANALYSIS
  • 3502 Windhill Lane Montgomery, TX 1
    • 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,979 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.91
    •  
  • 12307 Thoreau Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,915 Sqft ∙ Built 2003
    LEASED 02/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,835
    • $0.96
    •  
  • 12130 Brightwood Drive Montgomery, TX 3
    • 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,901 Sqft ∙ Built 2013
    LEASED 09/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.97
    •  
  • 12218 Brightwood Drive Montgomery, TX 4
    • 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 2008 4 beds 3 baths ∙ 1,974 Sqft ∙ Built 2008
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,895
    • $0.96
    •  
  • 12215 Walden Road Montgomery, TX 5
    • 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,974 Sqft ∙ Built 2005
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $1.01
    •  
PROPERTY LISTING DETAILS
Barbara Sims
1.936.232.5322
Keller Williams Advtge Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 76674878
Last Updated: 02/27/2021
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