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10424 Royal Andrews Drive Conroe, TX 77303

3 Beds 2 Baths 1,063 sqft Built 2005

$167,200

List Price

$1,270

$1.1K - $1.4K

Rent Est.

PROPERTY INFO

February 11, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $157.29
  • 4 Days on Market
  • MLS # : 63597185
  • Updated Date : 02/13/2021 at 08:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,063 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

3 bedroom / 2 bath home with a huge fenced in back yard with storage shed. Large Master bedroom and closet space. Brand new Granite Countertops and fixtures. Located in a wooded neighborhood with fishing lake. Great location, just minutes from Conroe.

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: Royal Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $60k237k

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

Neighborhood: Royal Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6491677

* 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
Edward B. Cannan Elementary School Primary Regular 632 36 5
Lynn Lucas Middle School Middle Regular 774 47 3
Willis High School High Regular 1,944 117 4

Edward B. Cannan Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
5
GreatSchools Rating

Lynn Lucas Middle School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 47
3
GreatSchools Rating

Willis High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 117
4
GreatSchools Rating
 

$150,480$183,920$167,200

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$581
Property Tax -$325
Property Insurance -$89
HOA -$12
Property Management Fees -$99
CASH FLOW
$165

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.

$167,200

PROJECTED PRICE

$1,270

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,058

INVESTMENT

$50,058

Down Payment
$41,800
Rehab Estimate
$5,750
Closing Costs
$2,508

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$581

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $41,800
Loan Amount $125,400
See What Happens When You Reinvest Cash Flow

7.25

YEARS SAVED

$14,836

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $1.19

    LIST RENT PER SQFT
  • $1,265

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,270
1$1,2702$1,2993$1,2994$1,2995$1,299
$1,299
RENT COMPS ANALYSIS
  • 10424 Royal Andrews Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $1.19
    •  
  • 10951 Royal Forest Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 2015
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.20
    •  
  • 10447 Royal Adrian Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2010
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.22
    •  
  • 10670 Royal Magnolia Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2011
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.22
    •  
  • 10261 Royal Ramsey Drive Conroe, TX 5
    • 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,159 Sqft ∙ Built 2009
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.12
    •  
PROPERTY LISTING DETAILS
Ernest Tamayo
1.936.827.6209
Keller Williams Advtge Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 63597185
Last Updated: 02/13/2021
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