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3821 Happy Hollow Lane Montgomery, TX 77356

3 Beds 3 Baths 2,850 sqft Built 1998

$319,900

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $112.25
  • 7 Days on Market
  • MLS # : 19419121
  • Updated Date : 02/03/2021 at 10:16
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,850 sqft
  • Baths : 2 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Enchanting cul-de-sac home located in the lovely subdivision of Walden on Lake Conroe. This refined 3/4BR 2.5BA home boasts of open living areas & a cozy wood burning fireplace. Surrounding lot is owned by neighbors for green space. Gourmet kitchen has freshly painted cabinets w/on trend hardware & ample amount of gleaming granite counter space & storage. Open to main living area & wall full of windows for scenic views of secluded property. Master Retreat has tall ceilings & sitting area next to bright windows that allow for lots natural light. En-suite bathroom features an oversized soaking tub, vanity area, large walk-in closet. Sizeable secondary bedrooms. Texas basement located upstairs, could be used as BR4. Wind down in the pool-sized private backyard & enjoy the shade of the mature trees that surround this property. Upstanding MISD Schools! Enjoy life like you are on vacation w/easy access to Lake Conroe, restaurants, local coffee shop, golf & the well known Margaritaville.

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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
 

$287,910$351,890$319,900

PURCHASE PRICE

$1,944$2,376$2,160

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,160
EXPENSES Loan Payment -$1,111
Property Tax -$640
Property Insurance -$192
HOA -$79
Property Management Fees -$99
CASH FLOW
$39

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.

$319,900

PROJECTED PRICE

$2,160

PROJECTED RENT

0.68%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$90,524

INVESTMENT

$90,524

Down Payment
$79,975
Rehab Estimate
$5,750
Closing Costs
$4,799

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,111

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,975
Loan Amount $239,925
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,401

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,160

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $2,223

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,950
1$1,9502$2,1603$2,2004$2,2005$2,325
$2,325
RENT COMPS ANALYSIS
  • 3821 Happy Hollow Lane Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,850 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,850 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.76
    •  
  • 3829 Evergreen Way Montgomery, TX 1
    • 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,686 Sqft ∙ Built 2002
    LEASED 12/04/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.73
    •  
  • 3801 Happy Hollow Drive Montgomery, TX 3
    • 4 beds 4 baths ∙ 2,874 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,874 Sqft ∙ Built 2016
    LEASED 08/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.77
    •  
  • 3913 Windswept Drive Montgomery, TX 4
    • 3 beds 4 baths ∙ 2,673 Sqft ∙ Built 2007 3 beds 4 baths ∙ 2,673 Sqft ∙ Built 2007
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.82
    •  
  • 12514 Dover Drive Montgomery, TX 5
    • 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,908 Sqft ∙ Built 2014
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,325
    • $0.80
    •  
PROPERTY LISTING DETAILS
Sarah Conway
1.936.494.9999
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 19419121
Last Updated: 02/03/2021
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