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16250 Kanani Ct Conroe, TX 77302

4 Beds 2 Baths 1,568 sqft Built 2002

INVESTimate

$139,999

List Price

$1,270

$1,143 - $1,397

Rent Est.

$145,935  ( +4.24%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $89.29
  • 3 Days on Market
  • MLS # : 67609607
  • Updated Date : 08/25/2020 at 17:30
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,568 sqft
  • Baths : 2 full
Listing Agent

Houze Buyers Llc

Listing Agent's Description

Located in a quiet community. Beautiful Ready to Move in home. Home features, 4 bedrooms, 2 baths, 2 car garage. Large open plan, large kitchen, recent upgrades. Large lot in a cul-de-sac, perfect for children to play.

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: Lone Star Ranch

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220kPrice in $55k237k

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

Neighborhood: Lone Star Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6231677

* 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
San Jacinto Elementary School Primary Regular 724 42 4
Moorhead Junior High School Middle Regular 1,085 77 6
Caney Creek High School High Regular 1,822 120 4

San Jacinto Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 42
4
GreatSchools Rating

Moorhead Junior High School

  • Education Level: Middle
  • # of students: 1,085
  • # of teachers: 77
6
GreatSchools Rating

Caney Creek High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 120
4
GreatSchools Rating
 

$125,999$153,999$139,999

PURCHASE PRICE

$1,143$1,397$1,270

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k

PROJECTED ANNUAL CASH FLOW

11530$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$50k$100k$150k$200k$250k$300k$350k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,270
EXPENSES Loan Payment -$517
Property Tax -$272
Property Insurance -$118
HOA -$25
Property Management Fees -$99
CASH FLOW
$240

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$139,999

PROJECTED PRICE

$1,270

PROJECTED RENT

0.91%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 4.24%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$42,850

INVESTMENT

$42,850

Down Payment
$35,000
Rehab Estimate
$5,750
Closing Costs
$2,100

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$517

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $35,000
Loan Amount $104,999
See What Happens When You Reinvest Cash Flow

10.67

YEARS SAVED

$25,951

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,270

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,282

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,250
1$1,2502$1,2703$1,2754$1,2955$1,300
$1,300
RENT COMPS ANALYSIS
  • 16250 Kanani Ct Conroe, TX 2
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,270
    • $0.81
    •  
  • 16116 Lone Star Ranch Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2001
    property image
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,250
    • $0.80
    •  
  • 16287 Wild Oak Lane Conroe, TX 3
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 2002 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 2002
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.81
    •  
  • 16131 Lone Star Ranch Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 2002
    property image
    LEASED 03/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.83
    •  
  • 16217 Sunny Morning Court Conroe, TX 5
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 2001
    property image
    LEASED 10/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $0.83
    •  
PROPERTY LISTING DETAILS
Joseph Price
1.936.647.0533
Houze Buyers Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 67609607
Last Updated: 08/25/2020
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