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14222 Rainier Peak Crossing Conroe, TX 77384

4 Beds 3 Baths 2,664 sqft Built 2018

$312,000

List Price

$2,380

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $117.12
  • 4 Days on Market
  • MLS # : 68664891
  • Updated Date : 03/19/2021 at 16:24
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,664 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Advtge Realty

Listing Agent's Description

Welcome to 14222 Rainier Peak Xing in Fosters Ridge 05! This charming 4/2.5/2 has a wonderful layout with a flex room upon entry that could act as a living room, office, or den! The large kitchen has plenty of granite counterspace for cooking & entertaining! The main living room is open to the kitchen and dining & the primary bedroom has it's own corner on the 1st floor. Upstairs is an open flex/game room, a full bath and 3 colorful bedrooms! The backyard has a covered back porch great for gatherings! Make your appointment today!

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

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
 

$280,800$343,200$312,000

PURCHASE PRICE

$2,142$2,618$2,380

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,380
EXPENSES Loan Payment -$1,084
Property Tax -$745
Property Insurance -$181
HOA -$67
Property Management Fees -$99
CASH FLOW
$205

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.

$312,000

PROJECTED PRICE

$2,380

PROJECTED RENT

0.76%

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) 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$800k

PROJECTED ANNUAL CASH FLOW

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

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$88,430

INVESTMENT

$88,430

Down Payment
$78,000
Rehab Estimate
$5,750
Closing Costs
$4,680

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,084

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,000
Loan Amount $234,000
See What Happens When You Reinvest Cash Flow

4.67

YEARS SAVED

$14,974

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,380

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,384

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,3803$2,4004$2,4505$2,499
$2,499
RENT COMPS ANALYSIS
  • 14222 Rainier Peak Crossing Conroe, TX 2
    • 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,664 Sqft ∙ Built 2018
    • Rent
    • Rent Per SQFT
    •  
    • $2,380
    • $0.89
    •  
  • 14242 Rainier Peak Crossing Conroe, TX 1
    • 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2017 4 beds 3 baths ∙ 2,675 Sqft ∙ Built 2017
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.86
    •  
  • 14010 Grape Island Court Conroe, TX 3
    • 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,570 Sqft ∙ Built 2018
    LEASED 03/02/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.93
    •  
  • 14109 N Crater Lake Court Conroe, TX 4
    • 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,848 Sqft ∙ Built 2017
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.86
    •  
  • 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
Amanda Hofstra
1.832.702.0121
Keller Williams Advtge Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 68664891
Last Updated: 03/19/2021
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