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1221 Tejas Boulevard Conroe, TX 77316

3 Beds 2 Baths 1,281 sqft Built 1993

$150,000

List Price

$1,360

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $117.10
  • 12 Days on Market
  • MLS # : 80676151
  • Updated Date : 11/13/2020 at 17:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,281 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Houstoncentral

Listing Agent's Description

Great corner lot. This inviting floor plan layout offers 3 bed 2 bath has great upgrades where traditional meets charming in an established neighborhood. Open kitchen great to entertain with ease inside or outside on the large deck. Generous side and backyard for your outdoor activities and with a confortable spa/hot tub. Come see this attactive home designed with your lifestyle in mind!

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: Lake Conroe Forest

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220k240k260k280kPrice in $74k298k

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

Neighborhood: Lake Conroe Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800100012001400160018002000Rent in $6462163

* 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
Keenan Elementary School Primary Regular NA
Oak Hills Junior High School Middle Regular NA
Lake Creek High School High Regular NA

Keenan Elementary School

  • Education Level: Primary
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Oak Hills Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$135,000$165,000$150,000

PURCHASE PRICE

$1,224$1,496$1,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,360
EXPENSES Loan Payment -$553
Property Tax -$291
Property Insurance -$101
Property Management Fees -$99
CASH FLOW
$315

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.

$150,000

PROJECTED PRICE

$1,360

PROJECTED RENT

0.91%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 8.1%
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

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$45,500

INVESTMENT

$45,500

Down Payment
$37,500
Rehab Estimate
$5,750
Closing Costs
$2,250

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 25% down payment or higher enables the proceeds from the asset to cover all costs.

$553

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $37,500
Loan Amount $112,500
See What Happens When You Reinvest Cash Flow

12.58

YEARS SAVED

$35,013

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,360

    LIST RENT
  • $1.06

    LIST RENT PER SQFT
  • $1,351

    COMP ESTIMATED VALUE
  • $1.06

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3603$1,3754$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 1221 Tejas Boulevard Conroe, TX 2
    • 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,281 Sqft ∙ Built 1993
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,360
    • $1.06
    •  
  • 206 Tejas Boulevard Conroe, TX 1
    • 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,183 Sqft ∙ Built 2004
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.10
    •  
  • 318 Somerset Road Conroe, TX 3
    • 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,356 Sqft ∙ Built 2004
    property image
    LEASED 02/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $1.01
    •  
  • 285 Mesa View View Conroe, TX 4
    • 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,407 Sqft ∙ Built 2002
    property image
    LEASED 09/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.03
    •  
  • 272 Mesa View Conroe, TX 5
    • 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,339 Sqft ∙ Built 2002
    property image
    LEASED 10/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $1.08
    •  
PROPERTY LISTING DETAILS
Ximena Armijos
1.832.350.0588
Keller Williams Houstoncentral
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80676151
Last Updated: 11/13/2020
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