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163 April Cove Conroe, TX 77356

3 Beds 3 Baths 2,297 sqft Built 1994

$250,000

List Price

$1,790

$1.6K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1994
  • Price/Sqft : $108.84
  • 87 Days on Market
  • MLS # : 21108150
  • Updated Date : 11/30/2020 at 18:41
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,297 sqft
  • Baths : 2 full , 1 half
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome to the 24/7 manned, gated community of April Sound. Where you can play a round of golf on our 2 Professional Golf Courses or go fishing off the marina, put your boat in the water at the boat launch and end the day with a refreshment at the restaurant. With lots of amenities for the family including, tennis courts, 2 gyms, pools, parks, trails & a country club. This Beautiful 2 story home, with no immediate back neighbors, offers 3 bedrooms & 2 1/2 baths.In the kitchen, you will find Silestone counter tops & stainless appliances. Master bedroom is on the first floor. Laminate & carpet flooring. Solar screens & Custom Blinds. There is a gas log fireplace & Composite wood deck with a Waterview. Walk in attic with Tankless Water Heater!!!! Come see your new home today, this house will not last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,611$1,969$1,790

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,790
EXPENSES Loan Payment -$922
Property Tax -$498
Property Insurance -$160
HOA -$70
Property Management Fees -$99
CASH FLOW
$40

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.

$250,000

PROJECTED PRICE

$1,790

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

2.92

YEARS SAVED

$6,902

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,790

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,861

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,790
1$1,7902$1,8253$1,8504$1,8755$1,950
$1,950
RENT COMPS ANALYSIS
  • 163 April Cove Conroe, TX 1
    • 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 1994 3 beds 3 baths ∙ 2,297 Sqft ∙ Built 1994
    • Rent
    • Rent Per SQFT
    •  
    • $1,790
    • $0.78
    •  
  • 12611 Lake Shore Drive Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2002 3 beds 3 baths ∙ 2,372 Sqft ∙ Built 2002
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $0.77
    •  
  • 119 Capetown Lane Conroe, TX 3
    • 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2003 3 beds 3 baths ∙ 2,245 Sqft ∙ Built 2003
    LEASED 05/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.82
    •  
  • 113 Springs Edge Montgomery, TX 4
    • 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
    •  
  • 9297 Fathom Drive Montgomery, TX 5
    • 3 beds 2 baths ∙ 2,271 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,271 Sqft ∙ Built 2006
    LEASED 02/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.86
    •  
PROPERTY LISTING DETAILS
Nikki Dasilva
1.985.773.4428
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 21108150
Last Updated: 11/30/2020
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