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14 Rowan Tree Place Conroe, TX 77384

4 Beds 3 Baths 2,937 sqft Built 2004

$396,000

List Price

$2,710

$2.5K - $3K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $134.83
  • 4 Days on Market
  • MLS # : 37688610
  • Updated Date : 02/04/2021 at 15:48
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,937 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Northwest, Realtors

Listing Agent's Description

Gorgeous 2 story home in the Woodlands with great curb appeal and perfect for entertaining. The home features Formal dining, Study, Breakfast area, Primary bedroom first floor, 3 bedrooms and Game room upstairs. The entire home has custom shuttered windows, Hard wood floors in the main living areas, tile in the Kitchen and Breakfast room and carpet in the Bedrooms. The Primary bedroom has wonderful natural light, a large En-Suite bath with garden tub, frameless glass surround shower and a walk in closet. The Family room is on the first floor and opens directly into the Kitchen and Breakfast area. The Breakfast area has window seating and the Kitchen has bar seating making it perfect for entertaining. With three Bedrooms upstairs and the Game room there is plenty of space for friends and family, if that isn't enough there is an oversized backyard with concrete patio for outdoor entertaining.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $107k391k

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

Neighborhood: Alden Bridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8932322

* 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
David Elementary School Primary Regular 626 36 9
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

David Elementary School

  • Education Level: Primary
  • # of students: 626
  • # of teachers: 36
9
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$356,400$435,600$396,000

PURCHASE PRICE

$2,439$2,981$2,710

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,710
EXPENSES Loan Payment -$1,375
Property Tax -$777
Property Insurance -$197
Property Management Fees -$99
CASH FLOW
$262

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.

$396,000

PROJECTED PRICE

$2,710

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.9%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$110,690

INVESTMENT

$110,690

Down Payment
$99,000
Rehab Estimate
$5,750
Closing Costs
$5,940

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,375

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $99,000
Loan Amount $297,000
See What Happens When You Reinvest Cash Flow

5.5

YEARS SAVED

$24,044

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,710

    LIST RENT
  • $0.92

    LIST RENT PER SQFT
  • $2,445

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,6004$2,6505$2,710
$2,710
RENT COMPS ANALYSIS
  • 14 Rowan Tree Place Conroe, TX 5
    • 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 2004 4 beds 3 baths ∙ 2,937 Sqft ∙ Built 2004
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,710
    • $0.92
    •  
  • 2 W Whistlers Bend Circle Conroe, TX 1
    • 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,745 Sqft ∙ Built 2001
    property image
    LEASED 03/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 14 Ryanwyck Place The Woodlands, TX 2
    • 4 beds 4 baths ∙ 2,852 Sqft ∙ Built 2003 4 beds 4 baths ∙ 2,852 Sqft ∙ Built 2003
    property image
    LEASED 09/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.84
    •  
  • 10 Guinevere Place The Woodlands, TX 3
    • 3 beds 3 baths ∙ 3,111 Sqft ∙ Built 2001 3 beds 3 baths ∙ 3,111 Sqft ∙ Built 2001
    property image
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,600
    • $0.84
    •  
  • 22 Columnberry Court The Woodlands, TX 4
    • 4 beds 4 baths ∙ 3,284 Sqft ∙ Built 2001 4 beds 4 baths ∙ 3,284 Sqft ∙ Built 2001
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,650
    • $0.81
    •  
PROPERTY LISTING DETAILS
Lisa Hudgens
1.713.569.5178
Re/max Northwest, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 37688610
Last Updated: 02/04/2021
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