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PROPERTY INFO
FACTS
- Single Family
- Built In 1994
- Price/Sqft : $118.26
- 5 Days on Market
- MLS # : 97691301
- Updated Date : 12/30/2020 at 19:54
CONSTRUCTION
- Beds : 4
- Floor Size : 2,536 sqft
- Baths : 3 full , 1 half
Listing Agent
Veronica Mullenix Real Estate
Listing Agent's Description
A+ Location! Great Price! Highly sought after community of custom luxury homes! This one-story traditional home is a diamond in the rough ready for you to make the repairs and add your decorator touches, a perfect home for someone who wants to select their favorite exotic granite, luxury flooring, designer paint colors, high end fixtures, and upscale appliances to create the home you've been dreaming of! High ceilings, stone fireplace hearth, large primary bathroom suite, large covered back porch! Awesome potential!! Fabulous location! Very close to Lake Conroe, Margaritaville Resort, The Woodlands, W.G. Jones State Forest. No MUD! Low Taxes! Lowest HOA in the area! No flooding! Community boasts families of deer roaming about, tennis and basketball courts, pavilion and picnic tables, pool, playground, park, fishing lake & pier, and an area for four-wheelers! Lot size is 0.4591; large backyard offers privacy. Needs updating. Selling "AS-IS", Seller cannot make any repairs.
SEE MORE
- 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
Neighborhood: Carriage Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Carriage Hills
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $2,370 |
| EXPENSES | Loan Payment | -$1,107 |
| Property Tax | -$583 | |
| Property Insurance | -$174 | |
| HOA | -$25 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$383
|
||
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.
$299,900
PROJECTED PRICE
$2,370
PROJECTED RENT
0.79%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 4.0% |
| Maintenance Year (1-5) | 8.00% |
| Vacancy | 9.28% |
| Length of Stay Years | 2 |
PROJECTED ACCUMULATED WEALTH
30 YEAR PROJECTION
- Cash Flow
- Appreciation
- Principal
PROJECTED ANNUAL CASH FLOW
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$85,224
LOAN DETAILS
$1,107
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $74,975 |
| Loan Amount | $224,925 |
8.5
YEARS SAVED
$39,854
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$2,370
LIST RENT -
$0.93
LIST RENT PER SQFT
-
$2,435
COMP ESTIMATED VALUE -
$0.96
COMP AVG. RENT PER SQFT
Comps Range
-
1316 Carriage Run Conroe, TX 1
- 4 beds 4 baths ∙ 2,536 Sqft ∙ Built 1994 4 beds 4 baths ∙ 2,536 Sqft ∙ Built 1994
![property image]()
- Rent
- Rent Per SQFT
- $2,370
- $0.93
-
126 Jacobs Meadow Drive Conroe, TX 2
- 4 beds 2 baths ∙ 2,487 Sqft ∙ Built 2011 4 beds 2 baths ∙ 2,487 Sqft ∙ Built 2011
![property image]()
LEASED 11/01/20- Rent
- Rent Per SQFT
- $2,400
- $0.97
-
114 Meadow Run Drive Conroe, TX 3
- 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,700 Sqft ∙ Built 2014
![property image]()
LEASED 01/11/20- Rent
- Rent Per SQFT
- $2,450
- $0.91
-
106 Deer Crossing Court Conroe, TX 4
- 4 beds 2 baths ∙ 2,487 Sqft ∙ Built 2013 4 beds 2 baths ∙ 2,487 Sqft ∙ Built 2013
![property image]()
LEASED 10/02/20- Rent
- Rent Per SQFT
- $2,500
- $1.01
-
105 Owen Ridge Drive Conroe, TX 5
- 3 beds 3 baths ∙ 2,629 Sqft ∙ Built 2014 3 beds 3 baths ∙ 2,629 Sqft ∙ Built 2014
![property image]()
LEASED 02/28/20- Rent
- Rent Per SQFT
- $2,500
- $0.95
PROPERTY LISTING DETAILS
1.281.844.6285
Veronica Mullenix Real Estate
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 97691301
Last Updated: 12/30/2020
