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14113 Tower Peak Court Conroe, TX 77384

3 Beds 2 Baths 2,457 sqft Built 2021

$336,840

List Price

$2,180

$2K - $2.4K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $137.09
  • 6 Days on Market
  • MLS # : 41855654
  • Updated Date : 02/09/2021 at 13:59
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,457 sqft
  • Baths : 2 full
Listing Agent

D.r. Horton Homes

Listing Agent's Description

New DR Horton home! Beautiful one story home with 3 car garage. This new construction home features gorgeous brick and stone exterior and includes 3 bed/2bath/Study/Dining Room & 3 Car Garage! Features include SS appliances w/5 burner cooktop, Granite, and 42" cabinets in Kitchen, Frameless shower, Smart Home Package, Solid Surface Flooring throughout, Tankless Water Heater, Covered Patio, and Full Sprinkler System. Fosters Ridge offers beautiful community center, playground, and pool. Zoned to The Woodlands Schools! DR Horton is America's #1 Homebuilder! Come out to Fosters Ridge and make this new home yours today!

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

Zip Code: 77384

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $107k378k

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

Zip Code: 77384

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8932308

* 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
Bush Elementary School Primary Regular 698 42 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Bush Elementary School

  • Education Level: Primary
  • # of students: 698
  • # of teachers: 42
10
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$303,156$370,524$336,840

PURCHASE PRICE

$1,962$2,398$2,180

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,180
EXPENSES Loan Payment -$1,170
Property Tax -$655
Property Insurance -$169
HOA -$71
Property Management Fees -$99
CASH FLOW
$17

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$336,840

PROJECTED PRICE

$2,180

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
Maintenance Year (1-5) 3.00%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,263

INVESTMENT

$91,263

Down Payment
$84,210
Rehab Estimate
$2,000
Closing Costs
$5,053

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,170

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $84,210
Loan Amount $252,630
See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$6,268

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,180

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,236

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,1803$2,3004$2,4005$2,499
$2,499
RENT COMPS ANALYSIS
  • 14113 Tower Peak Court Conroe, TX 2
    • 3 beds 2 baths ∙ 2,457 Sqft ∙ Built 2021 3 beds 2 baths ∙ 2,457 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,180
    • $0.89
    •  
  • 14011 Beaverhead Range Court Conroe, TX 1
    • 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2017 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2017
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.86
    •  
  • 14217 Rainier Peak Crossing Conroe, TX 3
    • 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,378 Sqft ∙ Built 2019
    LEASED 01/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.97
    •  
  • 14141 Isle Royal Lane Conroe, TX 4
    • 4 beds 4 baths ∙ 2,718 Sqft ∙ Built 2016 4 beds 4 baths ∙ 2,718 Sqft ∙ Built 2016
    LEASED 02/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
  • 14121 N Crater Lake Court Conroe, TX 5
    • 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,677 Sqft ∙ Built 2016
    LEASED 12/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,499
    • $0.93
    •  
PROPERTY LISTING DETAILS
Ronnie Matthews
1.832.532.9592
D.r. Horton Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41855654
Last Updated: 02/09/2021
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