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161 April Cove Conroe, TX 77356

3 Beds 3 Baths 2,456 sqft Built 1984

$265,000

List Price

$1,900

$1.7K - $2.1K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $107.90
  • 6 Days on Market
  • MLS # : 24467427
  • Updated Date : 03/10/2021 at 15:57
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,456 sqft
  • Baths : 2 full , 1 half
Listing Agent

Allstar Properties

Listing Agent's Description

This home is a 3 bedroom, 2 full bath and one 1/2 bath.. There are 2 bedrooms down and the master is upstairs.. The kitchen and living area are also upstairs... Master bath has double sinks with separate shower and tub. Double walk in closets in master. Kitchen has an abundance of cabinets. Dine at the bar or at the Kitchen table. Deck across the 2nd floor with stairs down to ground. Also covered deck off of the 1st floor. April Sound is a gated community with pool and Country club with golf course and gyms.

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: 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 Regular NA
Lake Creek High School High Regular 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
 

$238,500$291,500$265,000

PURCHASE PRICE

$1,710$2,090$1,900

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,900
EXPENSES Loan Payment -$920
Property Tax -$528
Property Insurance -$169
HOA -$73
Property Management Fees -$99
CASH FLOW
$111

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.

$265,000

PROJECTED PRICE

$1,900

PROJECTED RENT

0.72%

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

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$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,545

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,900

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,922

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8753$1,9004$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 161 April Cove Conroe, TX 4
    • 3 beds 3 baths ∙ 2,456 Sqft ∙ Built 1984 3 beds 3 baths ∙ 2,456 Sqft ∙ Built 1984
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.77
    •  
  • 157 April Cove Conroe, TX 1
    • 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 1992 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 1992
    LEASED 08/15/20
    • 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
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
  • 12611 Lake Shore Drive Montgomery, TX 3
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2002
    LEASED 03/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.80
    •  
  • 130 April Wind Court Conroe, TX 5
    • 3 beds 2 baths ∙ 2,346 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,346 Sqft ∙ Built 1970
    LEASED 02/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jack Simmons
1.936.537.3030
Allstar Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 24467427
Last Updated: 03/10/2021
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