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10001 Sterling Place Drive Conroe, TX 77303

4 Beds 3 Baths 2,289 sqft Built 2013

$217,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

December 19, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $94.80
  • 6 Days on Market
  • MLS # : 54295140
  • Updated Date : 12/19/2020 at 15:33
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,289 sqft
  • Baths : 2 full , 1 half
Listing Agent

Great American Real Estate Llc

Listing Agent's Description

Beautiful home in a great neighborhood Conveniently located just outside of North Loop 336 in Conroe. Home offers four bedrooms 2 1/2 baths with appliances. Large open living area , granite counter tops in kitchen, his and hers closet in main bedroom with separate tub and shower. This home is a must see.

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

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
Bozman Intermediate School Primary Regular 746 45 6
Bozman Intermediate School Middle Regular 746 45 6
Conroe High School High Regular 3,480 215 4

Bozman Intermediate School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 45
6
GreatSchools Rating

Bozman Intermediate School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 45
6
GreatSchools Rating

Conroe High School

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

$195,300$238,700$217,000

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$801
Property Tax -$422
Property Insurance -$159
HOA -$25
Property Management Fees -$99
CASH FLOW
$184

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.

$217,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.78%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,255

INVESTMENT

$63,255

Down Payment
$54,250
Rehab Estimate
$5,750
Closing Costs
$3,255

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$801

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,250
Loan Amount $162,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$21,087

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.74

    LIST RENT PER SQFT
  • $1,682

    COMP ESTIMATED VALUE
  • $0.74

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,6903$1,6954$1,6955$1,700
$1,700
RENT COMPS ANALYSIS
  • 10001 Sterling Place Drive Conroe, TX 2
    • 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,289 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.74
    •  
  • 9815 Gulfstream Drive Conroe, TX 1
    • 4 beds 3 baths ∙ 1,973 Sqft ∙ Built 2010 4 beds 3 baths ∙ 1,973 Sqft ∙ Built 2010
    property image
    LEASED 10/17/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.71
    •  
  • 1060 Shadow Glenn Drive Conroe, TX 3
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007
    property image
    LEASED 07/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 1101 Shadow Glenn Drive Conroe, TX 4
    • 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2007 3 beds 3 baths ∙ 2,268 Sqft ∙ Built 2007
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.75
    •  
  • 1054 Windy Grove Lane Conroe, TX 5
    • 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Merwin Weenig
1.832.646.1068
Great American Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 54295140
Last Updated: 12/19/2020
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