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14 Cole Brook Lane Conroe, TX 77304

3 Beds 3 Baths 2,001 sqft Built 1981

$241,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $120.44
  • 57 Days on Market
  • MLS # : 30962040
  • Updated Date : 12/31/2020 at 18:09
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,001 sqft
  • Baths : 2 full , 1 half
Listing Agent

Promed Realty Services, Llp

Listing Agent's Description

A must see in Panorama Village! Home located on corner lot with large established trees. Interior of the home features dark hardwood-like flooring, granite countertops, fresh paint with open floorpan. LOW taxes, no maintenance fee and wonderful neighborhood amenities. Schedule today before its gone!

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

Neighborhood: Panorama Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Panorama Village

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8932063

* 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
A.r. Turner Elementary School Primary Regular 574 32 7
Robert P. Brabham Middle School Middle Regular 791 43 5
Willis High School High Regular 1,944 117 4

A.r. Turner Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 32
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
 

$216,900$265,100$241,000

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 -$889
Property Tax -$468
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$1

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.

$241,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.7%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,615

INVESTMENT

$69,615

Down Payment
$60,250
Rehab Estimate
$5,750
Closing Costs
$3,615

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$889

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,250
Loan Amount $180,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$5,718

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
  • $0.8

    LIST RENT PER SQFT
  • $1,761

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,6003$1,6004$1,750
$1,750
RENT COMPS ANALYSIS
  • 14 Cole Brook Lane Conroe, TX 3
    • 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 1981 3 beds 3 baths ∙ 2,001 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 248 Point Clear Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1974
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.80
    •  
  • 407 Rolling Hills Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1983 3 beds 2 baths ∙ 1,790 Sqft ∙ Built 1983
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.89
    •  
  • 320 Rolling Hills Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1977
    LEASED 03/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.95
    •  
PROPERTY LISTING DETAILS
Emily Dominey
1.936.524.8830
Promed Realty Services, Llp
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 30962040
Last Updated: 12/31/2020
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