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3818 Springcrest Montgomery, TX 77356

3 Beds 2 Baths 1,519 sqft Built 2007

$209,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $138.18
  • 2 Days on Market
  • MLS # : 3556755
  • Updated Date : 02/06/2021 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,519 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

Spacious well designed floor plan is waiting for you! Enjoy the many custom features of this 3/2/2 & great location at the front of Walden. Quality construction built by Advantage Homes, beautiful elevation with fenced backyard, covered back patio w/slate flooring & a sprinkler system. Granite counters in kitchen, new black stainless range & dishwasher just installed, filtered water at kitchen sink. No carpet in home - tile in wet areas & laminate wood plank floors in bedrooms. Recent interior paint, garage freshly painted, new LED fixtures in kitchen, halls, laundry, master closet/bath, foyer, front entry & LED bulbs in other fixtures, new shower heads in both baths. New solid garage door & assembly on order- to be installed upon receipt.

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
 

$188,910$230,890$209,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$729
Property Tax -$421
Property Insurance -$115
HOA -$88
Property Management Fees -$99
CASH FLOW
$118

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.

$209,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.75%

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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,374

INVESTMENT

$61,374

Down Payment
$52,475
Rehab Estimate
$5,750
Closing Costs
$3,149

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,475
Loan Amount $157,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$9,357

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,595

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5703$1,6504$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 3818 Springcrest Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,519 Sqft ∙ Built 2007
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.03
    •  
  • 3411 Country Club Boulevard Montgomery, TX 1
    • 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,427 Sqft ∙ Built 2017
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.09
    •  
  • 12502 Dover Drive Montgomery, TX 3
    • 4 beds 3 baths ∙ 1,675 Sqft ∙ Built 2005 4 beds 3 baths ∙ 1,675 Sqft ∙ Built 2005
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 12910 Victoria Regina Drive Montgomery, TX 4
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2003
    LEASED 08/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
  • 13326 Raintree Drive Montgomery, TX 5
    • 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,653 Sqft ∙ Built 2008
    LEASED 01/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.06
    •  
PROPERTY LISTING DETAILS
Theresa Scheib
1.936.537.6467
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 #: 3556755
Last Updated: 02/06/2021
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