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12325 Green Ridge Drive Willis, TX 77318

4 Beds 2 Baths 1,702 sqft Built 2015

$220,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 20, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $129.26
  • 2 Days on Market
  • MLS # : 12739084
  • Updated Date : 03/20/2021 at 10:28
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,702 sqft
  • Baths : 2 full
Listing Agent

Abby Realty

Listing Agent's Description

Lakeside community home sits on a large lot just minutes away from the water! Home has 4 bedrooms and 2 baths and was built in 2015. Open living/dining/kitchen/breakfast area! Fresh Paint, Tile flooring, Granite counter-tops in the kitchen, Maple cabinets throughout, and cultured marble counters in the bathrooms. The subdivision offers a boat ramp for residents only, two playgrounds, basketball and tennis courts, and a recreation center. You won't want to miss this one!! Schedule your private showing!!

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: Lake Conroe Hills

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $91k222k

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

Neighborhood: Lake Conroe Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7531677

* 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
W. Lloyd Meador Elementary School Primary Regular 771 43 7
Robert P. Brabham Middle School Middle Regular 791 43 5
Willis High School High Regular 1,944 117 4

W. Lloyd Meador Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 43
7
GreatSchools Rating

Robert P. Brabham Middle School

  • Education Level: Middle
  • # of students: 791
  • # of teachers: 43
5
GreatSchools Rating

Willis High School

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

$198,000$242,000$220,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$764
Property Tax -$476
Property Insurance -$125
HOA -$18
Property Management Fees -$99
CASH FLOW
$118

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.

$220,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) -0.3%
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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$64,050

INVESTMENT

$64,050

Down Payment
$55,000
Rehab Estimate
$5,750
Closing Costs
$3,300

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$764

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $55,000
Loan Amount $165,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$10,811

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,676

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5753$1,6004$1,6005$1,800
$1,800
RENT COMPS ANALYSIS
  • 12325 Green Ridge Drive Willis, TX 4
    • 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,702 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.94
    •  
  • 13061 Lazy Lane Willis, TX 1
    • 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,580 Sqft ∙ Built 2004
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.98
    •  
  • 11944 Lakeview Manor Drive Willis, TX 2
    • 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2004 3 beds 3 baths ∙ 1,574 Sqft ∙ Built 2004
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.00
    •  
  • 13168 Skyline Drive Willis, TX 3
    • 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,722 Sqft ∙ Built 2006
    property image
    LEASED 02/19/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.93
    •  
  • 12370 Lake Conroe Hills Drive Willis, TX 5
    • 4 beds 2 baths ∙ 1,745 Sqft ∙ Built 2018 4 beds 2 baths ∙ 1,745 Sqft ∙ Built 2018
    property image
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.03
    •  
PROPERTY LISTING DETAILS
Edgardo Martinez
1.832.725.0598
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 12739084
Last Updated: 03/20/2021
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