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12430 Ridgecrest Drive Willis, TX 77318

4 Beds 2 Baths 2,128 sqft Built 2005

$249,900

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $117.43
  • 4 Days on Market
  • MLS # : 69489054
  • Updated Date : 02/12/2021 at 16:14
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,128 sqft
  • Baths : 2 full
Listing Agent

Segue Real Estate Group

Listing Agent's Description

Gorgeous 4 bedroom, 2 bath home in a Lake Conroe subdivision with lots to offer: Open, split floor plan, large kitchen with island, tile throughout the home with wood plank look tile in the common areas, bedrooms, and study. Two bedrooms, one of those the primary bedroom, have french doors that open onto the covered patio. The two car garage has its own A/C system. The house is spray foam insulated with low energy bills! The subdivision offers a community center, boat ramp, two parks/playgrounds, and tennis courts. Something for the whole family. A MUST SEE!!!

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 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
 

$224,910$274,890$249,900

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$868
Property Tax -$541
Property Insurance -$150
HOA -$18
Property Management Fees -$99
CASH FLOW
$115

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.

$249,900

PROJECTED PRICE

$1,790

PROJECTED RENT

0.72%

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$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$71,974

INVESTMENT

$71,974

Down Payment
$62,475
Rehab Estimate
$5,750
Closing Costs
$3,749

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $62,475
Loan Amount $187,425
See What Happens When You Reinvest Cash Flow

4.5

YEARS SAVED

$10,854

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,921

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7503$1,7904$1,8505$1,990
$1,990
RENT COMPS ANALYSIS
  • 12430 Ridgecrest Drive Willis, TX 3
    • 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,128 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.84
    •  
  • 12630 Ridgecrest Drive Willis, TX 1
    • 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,906 Sqft ∙ Built 2006
    LEASED 09/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.87
    •  
  • 12626 Virgo Drive Willis, TX 2
    • 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,823 Sqft ∙ Built 2003
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.96
    •  
  • 13239 Lazy Lane Willis, TX 4
    • 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2012 3 beds 3 baths ∙ 2,076 Sqft ∙ Built 2012
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.89
    •  
  • 12211 Sagittarius Drive Willis, TX 5
    • 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 2002 3 beds 2 baths ∙ 2,234 Sqft ∙ Built 2002
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.89
    •  
PROPERTY LISTING DETAILS
Cathy Deyoung
1.936.661.0753
Segue Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69489054
Last Updated: 02/12/2021
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