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10530 Lake Shore Drive Conroe, TX 77303

3 Beds 2 Baths 1,609 sqft Built 1983

$170,000

List Price

$1,400

$1.3K - $1.5K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $105.66
  • 3 Days on Market
  • MLS # : 36651941
  • Updated Date : 01/16/2021 at 18:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,609 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

WELCOME TO THIS COUNTRY RETREAT! LOCATED ON 4.3+/- WATERFRONT ACRES. THIS HOME IS PERFECT FOR A WEEKEND GETAWAY, EMPTY NESTERS, FIRST TIME BUYERS, OR ANYONE JUST LOOKING TO ESCAPE FROM THE HUSTLE AND BUSTLE OF THE CITY AND INTO A SERENE COUNTRY SETTING BUT STILL BE CLOSE TO GREAT AMENITIES! THIS RUSTIC HOME FEATURES A LIVING AREA WITH SOARING CEILINGS, BAMBOO FLOORING, AND WALL OF FLOOR TO CEILING WINDOWS, KITCHEN WITH BREAKFAST BAR, SLATE FLOORING, AND GAS RANGE, ALARM, LOFT BEDROOM,2ND BEDROOM DOWN,GAMEROOM/4TH BEDROOM DOWN, AND PRIMARY BEDROOM WITH BAMBOO FLOORING. OUTSIDE OFFERS A DECK WITH WATERVIEW AND WORKSHOP/STORAGE BUILDING. CURRENTLY ON WELL WATER, HOWEVER, PUBLIC WATER IS AVAILABLE.

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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: McRae Lake

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $62k237k

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

Neighborhood: McRae Lake

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6421677

* 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
Austin Elementary School Primary Regular 873 58 4
Moorhead Junior High School Middle Regular 1,085 77 6
Caney Creek High School High Regular 1,822 120 4

Austin Elementary School

  • Education Level: Primary
  • # of students: 873
  • # of teachers: 58
4
GreatSchools Rating

Moorhead Junior High School

  • Education Level: Middle
  • # of students: 1,085
  • # of teachers: 77
6
GreatSchools Rating

Caney Creek High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 120
4
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,260$1,540$1,400

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,400
EXPENSES Loan Payment -$590
Property Tax -$330
Property Insurance -$120
HOA -$5
Property Management Fees -$99
CASH FLOW
$255

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.

$170,000

PROJECTED PRICE

$1,400

PROJECTED RENT

0.82%

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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

10.08

YEARS SAVED

$24,795

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,400

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,512

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,700
$1,700
RENT COMPS ANALYSIS
  • 10530 Lake Shore Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,609 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
  • 11350 Clint Parker Road Conroe, TX 2
    • 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1997 3 beds 2 baths ∙ 1,803 Sqft ∙ Built 1997
    property image
    LEASED 06/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.94
    •  
PROPERTY LISTING DETAILS
Matthew West
1.281.788.5144
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 #: 36651941
Last Updated: 01/16/2021
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