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1419 Primrose Street Conroe, TX 77385

3 Beds 3 Baths 2,415 sqft Built 1988

$245,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1988
  • Price/Sqft : $101.45
  • 2 Days on Market
  • MLS # : 35456102
  • Updated Date : 02/27/2021 at 16:25
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,415 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Country living feel just minutes to The Woodlands amenities! Fabulous one story with double door entry and a front porch overlooking mature Crepe Mrytles. Fresh neutral paint throughout with recessed lighting and fixtures. Recently replaced fence with a large gate: room for RV and/or boat parking! Beautiful corner fireplace with custom made wood mantel. Unbelievable storage and closets in this home. Double Ovens. Recently replaced carpet. In addition to three large bedrooms, there are TWO flexible rooms that can be used for offices, game room, or play space. PLUS an additional room for general storage! Washer/dryer/refrigerator convey with the home. Excellent Conroe ISD schools. Per the sellers and neighbors, NO Flooding. NO HOA and LOW TAXES.

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: 77385

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Zip Code: 77385

ZipNIR 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
Houser Elementary School Primary Regular 848 49 5
Gerald D Irons Jr High School Middle Unknown 1,102 70 NA
Oak Ridge High School High Regular 3,637 202 8

Houser Elementary School

  • Education Level: Primary
  • # of students: 848
  • # of teachers: 49
5
GreatSchools Rating

Gerald D Irons Jr High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 70
NA
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$220,500$269,500$245,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$851
Property Tax -$472
Property Insurance -$167
Property Management Fees -$99
CASH FLOW
$142

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.

$245,000

PROJECTED PRICE

$1,730

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$70,675

INVESTMENT

$70,675

Down Payment
$61,250
Rehab Estimate
$5,750
Closing Costs
$3,675

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,250
Loan Amount $183,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$12,654

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.72

    LIST RENT PER SQFT
  • $1,757

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5953$1,7004$1,7305$1,875
$1,875
RENT COMPS ANALYSIS
  • 1419 Primrose Street Conroe, TX 4
    • 3 beds 3 baths ∙ 2,415 Sqft ∙ Built 1988 3 beds 3 baths ∙ 2,415 Sqft ∙ Built 1988
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.72
    •  
  • 1310 Ashway Street Conroe, TX 1
    • 3 beds 2 baths ∙ 2,076 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,076 Sqft ∙ Built 2007
    LEASED 02/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $0.71
    •  
  • 10308 Beech Dr Drive Conroe, TX 2
    • 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 1996 3 beds 3 baths ∙ 2,176 Sqft ∙ Built 1996
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.73
    •  
  • 32215 Willow Creek Park Conroe, TX 3
    • 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,341 Sqft ∙ Built 2002
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.73
    •  
  • 31710 Midlake Park Conroe, TX 5
    • 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,532 Sqft ∙ Built 2001
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.74
    •  
PROPERTY LISTING DETAILS
Beverly Wallery
1.832.244.1348
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 35456102
Last Updated: 02/27/2021
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