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Lot 3 Westchase Montgomery, TX 77316

3 Beds 2 Baths 910 sqft Built 2020

$134,900

List Price

$1,090

$981 - $1.2K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $148.24
  • 4 Days on Market
  • MLS # : 31534578
  • Updated Date : 02/13/2021 at 10:08
CONSTRUCTION
  • Beds : 3
  • Floor Size : 910 sqft
  • Baths : 2 full
Listing Agent

Re/max Signature

Listing Agent's Description

New construction! Single story beauty! Great floor plan boasts high ceilings with large open living area. Granite kitchen features custom wood cabinets! This kitchen can easily accommodate an island! The flooring is a wood look tile in main living areas and carpet in the bedrooms . Primary bedroom has a door leading to the backyard greenspace and would be great for a private patio. The primary bath has a large spa like shower. Primary bedroom, living room and secondary bedrooms all come with ceiling fans! This lovely home will be ready in time for holiday celebrations! Great neighborhood that is close to Lake Conroe activities and shopping and wine tasting in Montgomery! Call today for your for your private showing!!

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: Lake Conroe Village

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $62k298k

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

Neighborhood: Lake Conroe Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $6112163

* 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
Stewart Creek Elementary School Primary Regular 777 46 7
Oak Hills Junior High School Middle Unknown NA
Lake Creek High School High Unknown NA

Stewart Creek Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 46
7
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
 

$121,410$148,390$134,900

PURCHASE PRICE

$981$1,199$1,090

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,090
EXPENSES Loan Payment -$469
Property Tax -$224
Property Insurance -$80
HOA -$33
Property Management Fees -$99
CASH FLOW
$185

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$134,900

PROJECTED PRICE

$1,090

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 3.5%
Maintenance Year (1-5) 3.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$50k$100k$150k$200k$250k$300k$350k$400k$450k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$50k$100k$150k$200k$250k$300k$350k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$37,749

INVESTMENT

$37,749

Down Payment
$33,725
Rehab Estimate
$2,000
Closing Costs
$2,024

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 30% down payment or higher enables the proceeds from the asset to cover all costs.

$469

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $33,725
Loan Amount $101,175
See What Happens When You Reinvest Cash Flow

9.58

YEARS SAVED

$19,695

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,090

    LIST RENT
  • $1.2

    LIST RENT PER SQFT
  • $1,028

    COMP ESTIMATED VALUE
  • $1.13

    COMP AVG. RENT PER SQFT
Comps Range
$1,090
1$1,0902$1,1993$1,2504$1,299
$1,299
RENT COMPS ANALYSIS
  • Lot 3 Westchase Montgomery, TX 1
    • 3 beds 2 baths ∙ 910 Sqft ∙ Built 2020 3 beds 2 baths ∙ 910 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,090
    • $1.20
    •  
  • 16918 W Alderson Montgomery, TX 2
    • 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,012 Sqft ∙ Built 2019
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,199
    • $1.18
    •  
  • 115 Delaware Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,131 Sqft ∙ Built 2004
    LEASED 03/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $1.11
    •  
  • 206 Tejas Boulevard Conroe, TX 4
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2004
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.10
    •  
PROPERTY LISTING DETAILS
Estella Dawson
1.281.782.5950
Re/max Signature
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31534578
Last Updated: 02/13/2021
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