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54 Winthrop Harbor Montgomery, TX 77356

3 Beds 2 Baths 2,253 sqft Built 1996

$340,000

List Price

$2,160

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1996
  • Price/Sqft : $150.91
  • 27 Days on Market
  • MLS # : 55390471
  • Updated Date : 12/15/2020 at 16:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,253 sqft
  • Baths : 2 full
Listing Agent

Area Pro Group North Lake

Listing Agent's Description

This beautiful patio home located on Weiskopf #6 in prestigious gated Bentwater subdivision, features granite countertops, hardwood floors, a hot tub outside and a lovely patio to enjoy your outdoor kitchen. The home has wonderful natural light and plenty of room to entertain family and friends. You have no neighbors to the left of you and there is a park area across the street that will never be built on, so you also can see the water. Social Membership available. Call now for your appointment.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Bentwater

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400kPrice in $113k439k

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

Neighborhood: Bentwater

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2120014001600180020002200240026002800Rent in $10722960

* 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
Montgomery Elementary School Primary Regular 765 49 6
Montgomery Junior High School Middle Regular 1,276 74 7
Montgomery High School High Regular 2,362 153 7

Montgomery Elementary School

  • Education Level: Primary
  • # of students: 765
  • # of teachers: 49
6
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
 

$306,000$374,000$340,000

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 -$1,181
Property Tax -$659
Property Insurance -$157
HOA -$91
Property Management Fees -$99
CASH FLOW
-$27

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.

$340,000

PROJECTED PRICE

$2,160

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.2%
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$900k

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$95,850

INVESTMENT

$95,850

Down Payment
$85,000
Rehab Estimate
$5,750
Closing Costs
$5,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,181

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $85,000
Loan Amount $255,000
See What Happens When You Reinvest Cash Flow

2.08

YEARS SAVED

$4,589

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
  • $0.96

    LIST RENT PER SQFT
  • $1,983

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,775
1$1,7752$1,9753$1,9754$2,0005$2,160
$2,160
RENT COMPS ANALYSIS
  • 54 Winthrop Harbor Montgomery, TX 5
    • 3 beds 2 baths ∙ 2,253 Sqft ∙ Built 1996 3 beds 2 baths ∙ 2,253 Sqft ∙ Built 1996
    • Rent
    • Rent Per SQFT
    •  
    • $2,160
    • $0.96
    •  
  • 16 Marina Way Montgomery, TX 1
    • 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,079 Sqft ∙ Built 2005
    LEASED 05/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.85
    •  
  • 230 Ruskin Drive E Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,258 Sqft ∙ Built 2004
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.87
    •  
  • 20 Marina Way Montgomery, TX 3
    • 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,180 Sqft ∙ Built 2005
    LEASED 09/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.91
    •  
  • 12 Marina Way Montgomery, TX 4
    • 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,244 Sqft ∙ Built 2005
    LEASED 05/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
PROPERTY LISTING DETAILS
Shelly Bishop
1.713.582.1192
Area Pro Group North Lake
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55390471
Last Updated: 12/15/2020
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