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10440 Royal Tricia Drive Conroe, TX 77303

3 Beds 2 Baths 1,066 sqft Built 2005

$145,000

List Price

$1,150

$1K - $1.3K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $136.02
  • 5 Days on Market
  • MLS # : 17188906
  • Updated Date : 11/18/2020 at 08:40
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,066 sqft
  • Baths : 2 full
Listing Agent

Re/max Redefined

Listing Agent's Description

Grab your chance to be in your own home for Christmas!! Cozy little home with large fenced backyard. 3 bedrooms and 2 baths with a roomy living room and kitchen. Kitchen is large enough for an island/breakfast bar. Fully fenced backyard with a storage building. Split floor plan with private bathroom. Small lake in the subdivision to enjoy some fishing. Tile floors throughout. Recently painted inside. Roof 10/2020.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$130,500$159,500$145,000

PURCHASE PRICE

$1,035$1,265$1,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,150
EXPENSES Loan Payment -$535
Property Tax -$282
Property Insurance -$89
HOA -$12
Property Management Fees -$99
CASH FLOW
$134

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.

$145,000

PROJECTED PRICE

$1,150

PROJECTED RENT

0.79%

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

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$44,175

INVESTMENT

$44,175

Down Payment
$36,250
Rehab Estimate
$5,750
Closing Costs
$2,175

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$535

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $36,250
Loan Amount $108,750
See What Happens When You Reinvest Cash Flow

6.92

YEARS SAVED

$14,042

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,150

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,143

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$995
1$9952$1,1503$1,1504$1,2005$1,400
$1,400
RENT COMPS ANALYSIS
  • 10440 Royal Tricia Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.08
    •  
  • 10419 Royal York Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2007
    LEASED 12/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $995
    • $0.93
    •  
  • 10671 Royal Forest Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,076 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,076 Sqft ∙ Built 2005
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,150
    • $1.07
    •  
  • 10351 Royal Damon Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2006
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.13
    •  
  • 10810 Royal Adrian Drive Conroe, TX 5
    • 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,204 Sqft ∙ Built 2005
    LEASED 12/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.16
    •  
PROPERTY LISTING DETAILS
Tracy Hawthorne
1.713.825.4342
Re/max Redefined
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 17188906
Last Updated: 11/18/2020
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