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1001 W Cedar River Road Conroe, TX 77316

3 Beds 2 Baths 1,581 sqft Built 2004

$230,000

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $145.48
  • 1 Days on Market
  • MLS # : 71588469
  • Updated Date : 07/13/2021 at 11:35
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,581 sqft
  • Baths : 2 full
Listing Agent

Styled Real Estate

Listing Agent's Description

Nestled in the quaint subdivision of Lake Conroe Forest, this charming 3 bedroom, 2 bathroom home sits tucked away amongst the shady pines. The home features a huge corner lot perfectly positioned with a view of the private neighborhood lake and all the wildlife that comes for a visit. Beautiful finishes throughout the home with an open floorpan, tall ceiling in the living area, breakfast bar, lots of counter space, spacious utility room and flex space currently used as an office. Primary bedroom features tray ceiling, built in dresser, walk in closet and a fantastic Primary shower with lots of space. Fishing, boating, swimming and pure relaxation at your finger tips. Just minutes by car OR boat to shopping, dining and all the amenities Lake Conroe has to offer or just a quick drive to the historic downtown Montgomery. The neighborhood features a private boat launch for Lake Conroe, parks and several other smaller stocked lakes throughout the community. Zoned to highly acclaimed MISD

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MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Lake Conroe Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $74k298k

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

Neighborhood: Lake Conroe Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $6462163

* 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
 

$207,000$253,000$230,000

PURCHASE PRICE

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$799
Property Tax -$447
Property Insurance -$118
HOA -$10
Property Management Fees -$99
CASH FLOW
$226

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.

$230,000

PROJECTED PRICE

$1,700

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.1%
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$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$66,700

INVESTMENT

$66,700

Down Payment
$57,500
Rehab Estimate
$5,750
Closing Costs
$3,450

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$799

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,500
Loan Amount $172,500
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$22,597

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,711

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,6003$1,6954$1,7005$1,800
$1,800
RENT COMPS ANALYSIS
  • 1001 W Cedar River Road Conroe, TX 4
    • 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,581 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.08
    •  
  • 145 Snug Harbor Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,398 Sqft ∙ Built 2002
    property image
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.07
    •  
  • 159 Snug Harbor Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,455 Sqft ∙ Built 2004
    property image
    LEASED 03/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.10
    •  
  • 232 Indian Falls Conroe, TX 3
    • 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,659 Sqft ∙ Built 1999
    property image
    LEASED 07/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 312 Parkhaven Circle Conroe, TX 5
    • 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1985 3 beds 3 baths ∙ 1,578 Sqft ∙ Built 1985
    property image
    LEASED 06/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.14
    •  
PROPERTY LISTING DETAILS
Emily Arce
1.936.689.8680
Styled Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 71588469
Last Updated: 07/13/2021
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