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10909 Redbird Conroe, TX 77385

3 Beds 2 Baths 1,620 sqft Built 2004

$208,900

List Price

$1,550

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

December 24, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $128.95
  • 4 Days on Market
  • MLS # : 41799319
  • Updated Date : 12/24/2020 at 10:24
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,620 sqft
  • Baths : 2 full
Listing Agent

Doug Erdy Group

Listing Agent's Description

Welcome home to this charming and quaint 3 bd./ 2 ba. one story. NO HOA and NO RESTRICTIONS. Low Taxes. Featuring recessed ceilings and archways. Fireplace. Overhead garage storage. Brick on all 4 sides. Gutters. 3 stage reverse osmosis system. Back privacy fence replaced in 2020. Microwave and oven/range replaced in 2020. Dishwasher replaced in 2019. Digital wifi thermostat. Ring doorbell system along with a security camera system that includes 4 cameras and a monitor screen included. Enjoy the peaceful nature surrounding. Zoned to the highly-rated Conroe ISD school district. Minutes from some of the finest dining, shopping, and entertainment in The Woodlands! Room sizes are approximate.

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

Zip Code: 77385

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Zip Code: 77385

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8932063

* 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
Vogel Intermediate School Primary Regular 1,072 61 6
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Vogel Intermediate School

  • Education Level: Primary
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$188,010$229,790$208,900

PURCHASE PRICE

$1,395$1,705$1,550

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,550
EXPENSES Loan Payment -$771
Property Tax -$402
Property Insurance -$121
Property Management Fees -$99
CASH FLOW
$158

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.

$208,900

PROJECTED PRICE

$1,550

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,109

INVESTMENT

$61,109

Down Payment
$52,225
Rehab Estimate
$5,750
Closing Costs
$3,134

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$771

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,225
Loan Amount $156,675
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$16,596

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,550

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,551

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,3953$1,5004$1,5505$1,600
$1,600
RENT COMPS ANALYSIS
  • 10909 Redbird Conroe, TX 4
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.96
    •  
  • 10939 Mockingbird Place Conroe, TX 1
    • 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,511 Sqft ∙ Built 2002
    LEASED 11/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.92
    •  
  • 1517 Briar Cliff Street Conroe, TX 2
    • 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,496 Sqft ∙ Built 2004
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.93
    •  
  • 10716 Fairview Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,461 Sqft ∙ Built 2005
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.03
    •  
  • 10211 Black Forest Court Conroe, TX 5
    • 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2009 3 beds 3 baths ∙ 1,684 Sqft ∙ Built 2009
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.95
    •  
PROPERTY LISTING DETAILS
Krystal Velazquez
1.832.877.7620
Doug Erdy Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41799319
Last Updated: 12/24/2020
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