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16326 Many Trees Lane Conroe, TX 77302

3 Beds 2 Baths 1,264 sqft Built 2003

$177,600

List Price

$1,330

$1.2K - $1.5K

Rent Est.

PROPERTY INFO

December 22, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $140.51
  • 7 Days on Market
  • MLS # : 90734946
  • Updated Date : 12/21/2020 at 22:52
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,264 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Experience

Listing Agent's Description

In the fastest growing community of Conroe, Summerset Estates is highly desired and well enjoyed! Move into your 3 bedroom 2 bath home with ease as your first homestead or income producing property. A well thought out design offering an open concept, grand vaulted ceiling, and kitchen island. Your backyard is fully fenced, backing up to a heavy tree-line and no back neighbors. Within the community your home is positioned near a cul-de-sac and community park with playground equipment, sport court, pavilion, and grill area. Quick commutes to school, work, and lifestyle as you are only minutes from all major roads/highways in Montgomery County (Hwy 242, I-69, I-45, Hwy 105, and the Grand Pkwy 99 Toll-Road). Zoned to Caney Creek High School; known for award winning teams, Ag program, STEM, Cosmetology, and so much more! With historically low rates, ask us about a tour and pre-approval to purchase this home today!

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: Summerset Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $64k237k

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

Neighborhood: Summerset Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6691677

* 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
 

$159,840$195,360$177,600

PURCHASE PRICE

$1,197$1,463$1,330

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,330
EXPENSES Loan Payment -$655
Property Tax -$345
Property Insurance -$100
HOA -$28
Property Management Fees -$99
CASH FLOW
$102

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.

$177,600

PROJECTED PRICE

$1,330

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

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

PROJECTED ANNUAL CASH FLOW

11530-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$52,814

INVESTMENT

$52,814

Down Payment
$44,400
Rehab Estimate
$5,750
Closing Costs
$2,664

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$655

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $44,400
Loan Amount $133,200
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,330

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,321

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,100
1$1,1002$1,3003$1,3304$1,3405$1,400
$1,400
RENT COMPS ANALYSIS
  • 16326 Many Trees Lane Conroe, TX 3
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,330
    • $1.05
    •  
  • 16320 Sun View Lane Conroe, TX 1
    • 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,118 Sqft ∙ Built 2003
    LEASED 10/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,100
    • $0.98
    •  
  • 16269 Sun View Lane Conroe, TX 2
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003
    LEASED 01/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,300
    • $1.03
    •  
  • 16378 Full Moon Court Conroe, TX 4
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003
    LEASED 11/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,340
    • $1.06
    •  
  • 16384 Sun View Lane Conroe, TX 5
    • 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,264 Sqft ∙ Built 2003
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.11
    •  
PROPERTY LISTING DETAILS
Crystal Oliver
1.936.648.8962
Realty One Group, Experience
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 90734946
Last Updated: 12/21/2020
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