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12488 Royal Lake Drive Conroe, TX 77303

3 Beds 2 Baths 1,100 sqft Built 2006

$152,500

List Price

$1,220

$1.1K - $1.3K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $138.64
  • 5 Days on Market
  • MLS # : 63699520
  • Updated Date : 01/14/2021 at 16:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,100 sqft
  • Baths : 2 full
Listing Agent

Urban Woods Realty

Listing Agent's Description

MOVE IN READY HOME ! This 3 bedroom 2 bath home has new flooring and paint throughout. Nestled beautifully in the Royal Forest subdivision walking distance from the 10 acre community lake. This home will come with New Appliances. Price to sell and will not last long. Schedule your showing now !

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Zip Code: 77303

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k237k

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

Zip Code: 77303

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6861677

* 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
Edward B. Cannan Elementary School Primary Regular 632 36 5
Lynn Lucas Middle School Middle Regular 774 47 3
Willis High School High Regular 1,944 117 4

Edward B. Cannan Elementary School

  • Education Level: Primary
  • # of students: 632
  • # of teachers: 36
5
GreatSchools Rating

Lynn Lucas Middle School

  • Education Level: Middle
  • # of students: 774
  • # of teachers: 47
3
GreatSchools Rating

Willis High School

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

$137,250$167,750$152,500

PURCHASE PRICE

$1,098$1,342$1,220

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,220
EXPENSES Loan Payment -$530
Property Tax -$296
Property Insurance -$91
HOA -$14
Property Management Fees -$99
CASH FLOW
$190

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.

$152,500

PROJECTED PRICE

$1,220

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 9.3%
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

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$46,163

INVESTMENT

$46,163

Down Payment
$38,125
Rehab Estimate
$5,750
Closing Costs
$2,288

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$530

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $38,125
Loan Amount $114,375
See What Happens When You Reinvest Cash Flow

8.75

YEARS SAVED

$18,167

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,220

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,312

    COMP ESTIMATED VALUE
  • $1.19

    COMP AVG. RENT PER SQFT
Comps Range
$1,200
1$1,2002$1,2203$1,2994$1,2995$1,299
$1,299
RENT COMPS ANALYSIS
  • 12488 Royal Lake Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,100 Sqft ∙ Built 2006
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,220
    • $1.11
    •  
  • 10351 Royal Damon Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,066 Sqft ∙ Built 2006
    property image
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,200
    • $1.13
    •  
  • 10951 Royal Forest Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,083 Sqft ∙ Built 2015
    property image
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.20
    •  
  • 10447 Royal Adrian Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2010
    property image
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.22
    •  
  • 10670 Royal Magnolia Drive Conroe, TX 5
    • 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,063 Sqft ∙ Built 2011
    property image
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $1.22
    •  
PROPERTY LISTING DETAILS
Terrance Harris
1.281.898.0058
Urban Woods Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 63699520
Last Updated: 01/14/2021
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