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9960 Pine Point Drive Montgomery, TX 77316

3 Beds 2 Baths 1,349 sqft Built 1999

$181,900

List Price

$1,670

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

90% chance this property will be sold within the next 10 days HOT INVESTMENT
November 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $134.84
  • 6 Days on Market
  • MLS # : 37302850
  • Updated Date : 11/24/2020 at 00:58
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,349 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

Spacous 3 bedroom home on almost 1/4 of an acre is located in the sought after 177 Lake Estates subdivision in Montgomery ISD. Home features 3 bedrooms, 2 baths & a 2 car garage w/climate controlled closet. No wasted space here! Home feels larger because of the well thought out floor plan. Vinyl plank floors & tile floors through-out - no carpet. This home is priced to sell! Primary bedroom is downstairs. 2 bedrooms & a full bath are the only rooms up. Laundry room is inside home. Large fenced backyard to enjoy year round! Call to schedule a showing today before this home is gone! Enjoy 2 subdivision lakes for fishing, canoeing & swimming.

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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

Zip Code: 77316

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340kPrice in $113k343k

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

Zip Code: 77316

ZipNIR Market*CityMarket2010Year20002019 Q2110012001300140015001600170018001900200021002200Rent in $10722278

* 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
Keenan Elementary School Primary Regular NA
Oak Hills Junior High School Middle Regular NA
Lake Creek High School High Regular NA

Keenan Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Oak Hills Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$163,710$200,090$181,900

PURCHASE PRICE

$1,503$1,837$1,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,670
EXPENSES Loan Payment -$671
Property Tax -$440
Property Insurance -$105
HOA -$13
Property Management Fees -$99
CASH FLOW
$342

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.

$181,900

PROJECTED PRICE

$1,670

PROJECTED RENT

0.92%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.5%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,954

INVESTMENT

$53,954

Down Payment
$45,475
Rehab Estimate
$5,750
Closing Costs
$2,729

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$671

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $45,475
Loan Amount $136,425
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$34,041

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $1.24

    LIST RENT PER SQFT
  • $1,673

    COMP ESTIMATED VALUE
  • $1.24

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,670
$1,670
RENT COMPS ANALYSIS
  • 9960 Pine Point Drive Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,349 Sqft ∙ Built 1999
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $1.24
    •  
  • 9973 Trailway Drive Montgomery, TX 1
    • 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 1984 3 beds 1 baths ∙ 1,208 Sqft ∙ Built 1984
    property image
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.24
    •  
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 #: 37302850
Last Updated: 11/24/2020
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