Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10212 S Summerlin Conroe, TX 77302

4 Beds 2 Baths 2,035 sqft Built 2004

$259,000

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

January 29, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $127.27
  • 3 Days on Market
  • MLS # : 41894562
  • Updated Date : 01/30/2021 at 14:07
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,035 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Beautiful one story, four bedrooms house, "park like" front and back yard. This home is impressive in it's architecutal enhancements from ceilings to windows. All areas full of natural light with custom 2" blinds and valances and several windows have fan blinds also. The kitchen features touchless faucet, upgraded (sealed) tile floor, counters/backsplash. The self-cleaning stove, dishwasher, microwave and 3/4 garbage disposal are upgrades also. The primary bedroom is luxurious with privacy windows and french doors leading out to 30 X 14 back patio overlooking the huge back yard. The attached ensuite bath offers a custom closet system, large vanity with soft close doors and drawers and whirlpool spa. Third bedroom has a queen size Murphy bed. This home will not last, make your appointment today!

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: Southwind Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k305k

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

Neighborhood: Southwind Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8642063

* 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
Wilkinson Elementary School Primary Regular 613 36 5
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Wilkinson Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 36
5
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
 

$233,100$284,900$259,000

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 -$900
Property Tax -$503
Property Insurance -$145
HOA -$15
Property Management Fees -$99
CASH FLOW
$29

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.

$259,000

PROJECTED PRICE

$1,690

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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$700k

PROJECTED ANNUAL CASH FLOW

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

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$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$900

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

2.75

YEARS SAVED

$5,836

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
  • $0.83

    LIST RENT PER SQFT
  • $1,781

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6903$1,7004$1,7505$1,950
$1,950
RENT COMPS ANALYSIS
  • 10212 S Summerlin Conroe, TX 2
    • 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2004 4 beds 2 baths ∙ 2,035 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.83
    •  
  • 2006 Lulach Lane Conroe, TX 1
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2006
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.90
    •  
  • 2047 Lulach Lane Conroe, TX 3
    • 4 beds 2 baths ∙ 2,097 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,097 Sqft ∙ Built 2006
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 965 Gowan Drive Conroe, TX 4
    • 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,090 Sqft ∙ Built 2013
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
  • 3232 Discovery Lane Conroe, TX 5
    • 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,044 Sqft ∙ Built 2018
    LEASED 02/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.95
    •  
PROPERTY LISTING DETAILS
Sandra Stobaugh
1.936.788.3436
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41894562
Last Updated: 01/30/2021
BESbswy