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152 Stones Edge Drive Conroe, TX 77356

3 Beds 3 Baths 2,548 sqft Built 1992

$289,900

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $113.78
  • 4 Days on Market
  • MLS # : 28116594
  • Updated Date : 02/26/2021 at 21:04
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,548 sqft
  • Baths : 2 full , 1 half
Listing Agent

Team Callegari Properties

Listing Agent's Description

An awesome home you must see. This 4 bedroom or 3 + gameroom is ideally situated on the golf course. Home offers formal dining room, breakfast room, large pantry, undermount kitchen sink and will have a new range installed. The lovely fireplace in the family room makes a quaint space for gatherings. Primary bedroom has his and her closets and double sinks in the bath with a luxurious shower. The roof is 4 1/2 years old and 2 new a/c are under 1 year old. The deck is a focal point as you relax overlooking the golf course.

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

Neighborhood: April Sound

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: April Sound

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722163

* 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
Stewart Creek Elementary School Primary Regular 777 46 7
Oak Hills Junior High School Middle Unknown NA
Lake Creek High School High Unknown NA

Stewart Creek Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 46
7
GreatSchools Rating

Oak Hills Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$260,910$318,890$289,900

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$1,007
Property Tax -$581
Property Insurance -$174
HOA -$73
Property Management Fees -$99
CASH FLOW
$66

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.

$289,900

PROJECTED PRICE

$2,000

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
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$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,007

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,321

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $2,013

    COMP ESTIMATED VALUE
  • $0.79

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$2,0004$2,1505$2,200
$2,200
RENT COMPS ANALYSIS
  • 152 Stones Edge Drive Conroe, TX 3
    • 3 beds 3 baths ∙ 2,548 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,548 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 116 Clear Springs Drive Montgomery, TX 1
    • 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995
    property image
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 113 Springs Edge Montgomery, TX 2
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1975
    property image
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
  • 106 April Waters Drive W Drive Conroe, TX 4
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
  • 111 Lakeside Drive Conroe, TX 5
    • 3 beds 3 baths ∙ 2,703 Sqft ∙ Built 1990 3 beds 3 baths ∙ 2,703 Sqft ∙ Built 1990
    property image
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.81
    •  
PROPERTY LISTING DETAILS
Charles Callegari
1.832.768.7653
Team Callegari Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 28116594
Last Updated: 02/26/2021
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