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1000 Arbor Way Conroe, TX 77303

3 Beds 3 Baths 2,486 sqft Built 2005

$245,900

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $98.91
  • 3 Days on Market
  • MLS # : 62647523
  • Updated Date : 02/12/2021 at 17:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,486 sqft
  • Baths : 2 full , 1 half
Listing Agent

Savvy Property Group

Listing Agent's Description

GREAT 4 BEDROOM HOME IN A GREAT LOCATION CLOSE TO IT ALL! LARGE LIVING ROOM, SPACIOUS KITCHEN W/BRKFAST BAR, INSIDE UTILITY, FORMAL DINING + BRKFAST AREA, UPSTAIRS GAMEROOM ALONG WITH ALL BEDROOMS, HUGE MASTER SUITE, MASTER BATH W/SEPARATE TUB & SHOWER, LARGE SPARE BEDROOMS, HIGH CEILINGS THROUGHOUT, LIGHT & BRIGHT, PRIVACY FENCED BACK YARD, LOVELY CURB APPEAL ON CORNER LOT!

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

Zip Code: 77303

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k237k

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

Zip Code: 77303

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6861677

* 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
Anderson Elementary School Primary Regular 673 44 9
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Anderson Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 44
9
GreatSchools Rating

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$221,310$270,490$245,900

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$854
Property Tax -$478
Property Insurance -$171
Property Management Fees -$99
CASH FLOW
$78

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$245,900

PROJECTED PRICE

$1,680

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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-$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$70,914

INVESTMENT

$70,914

Down Payment
$61,475
Rehab Estimate
$5,750
Closing Costs
$3,689

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$854

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,475
Loan Amount $184,425
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$10,491

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,6804$1,6955$1,695
$1,695
RENT COMPS ANALYSIS
  • 1000 Arbor Way Conroe, TX 3
    • 3 beds 3 baths ∙ 2,486 Sqft ∙ Built 2005 3 beds 3 baths ∙ 2,486 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.68
    •  
  • 235 Doncaster Street Conroe, TX 1
    • 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2004
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.62
    •  
  • 616 Orchid Hill Drive Conroe, TX 2
    • 4 beds 4 baths ∙ 2,430 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,430 Sqft ∙ Built 2015
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 1060 Shadow Glenn Drive Conroe, TX 4
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 1052 Shadow Glenn Drive Conroe, TX 5
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
PROPERTY LISTING DETAILS
Jazzmine Ononiwu
1.281.985.9652
Savvy Property Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 62647523
Last Updated: 02/12/2021
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