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12418 Lovie Lane Conroe, TX 77302

3 Beds 2 Baths 1,638 sqft Built 2004

$240,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $146.52
  • 4 Days on Market
  • MLS # : 75745488
  • Updated Date : 02/25/2021 at 20:14
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,638 sqft
  • Baths : 2 full
Listing Agent

Allen Interests Inc.

Listing Agent's Description

This beautiful one story split plan is nestled in a quiet neighborhood of Southwind Ridge on a double cul-de-sac street just minutes from I-45. The gray brick elevation is stunning as you pull up to the home. This split plan offers 3 bedrooms and 2 bathrooms. The secondary bedrooms are at the front of the home and share a hallway bath. Moving to the back of the home is the oversized kitchen complete with stainless appliances, granite counters, breakfast bar, and a ton of cabinet and counter space. The family room is open & spacious with a stunning wood burning corner fireplace. The primary suite features double sinks, separate garden tub and shower, & large walk in closet. The back yard is huge with plenty of room to run and play. There is also a large storage shed outback that is perfect for yard tools & keeping other items out of the garage.

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: Southwind Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k305k

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

Neighborhood: Southwind Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8642063

* 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
Wilkinson Elementary School Primary Regular 613 36 5
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Wilkinson Elementary School

  • Education Level: Primary
  • # of students: 613
  • # of teachers: 36
5
GreatSchools Rating

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$216,000$264,000$240,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$834
Property Tax -$466
Property Insurance -$122
HOA -$15
Property Management Fees -$99
CASH FLOW
$4

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.

$240,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.2%
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-$4.0k-$2.0k$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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,350

INVESTMENT

$69,350

Down Payment
$60,000
Rehab Estimate
$5,750
Closing Costs
$3,600

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$834

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $60,000
Loan Amount $180,000
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,564

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,634

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,540
1$1,5402$1,6503$1,7004$1,7755$1,795
$1,795
RENT COMPS ANALYSIS
  • 12418 Lovie Lane Conroe, TX 1
    • 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,638 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.94
    •  
  • 10781 Meachen Meadows Trail Conroe, TX 2
    • 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2019 3 beds 2 baths ∙ 1,620 Sqft ∙ Built 2019
    LEASED 09/08/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.02
    •  
  • 3024 Golden Current Lane Conroe, TX 3
    • 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,636 Sqft ∙ Built 2016
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.04
    •  
  • 974 Gowan Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,847 Sqft ∙ Built 2013
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.96
    •  
  • 2951 Twin Cove Court Conroe, TX 5
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2017
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
PROPERTY LISTING DETAILS
Jack Allen
1.832.928.9817
Allen Interests Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 75745488
Last Updated: 02/25/2021
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