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16394 Long Valley Court Conroe, TX 77302

4 Beds 2 Baths 1,550 sqft Built 2003

$184,995

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 09, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2003
  • Price/Sqft : $119.35
  • 2 Days on Market
  • MLS # : 72572258
  • Updated Date : 01/09/2021 at 12:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,550 sqft
  • Baths : 2 full
Listing Agent

Gold Quest Realty -galleria

Listing Agent's Description

Welcome to great community of Summer Estates. This is a 4 bedroom 2 full bath home. A few updates have been made including a brand new roof, new floors throughout the bedrooms.The home offers an open floor plan with plenty of space for entertaining.

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MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (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
 

$166,496$203,495$184,995

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$643
Property Tax -$359
Property Insurance -$117
HOA -$28
Property Management Fees -$99
CASH FLOW
$284

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.

$184,995

PROJECTED PRICE

$1,530

PROJECTED RENT

0.83%

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$600k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$54,774

INVESTMENT

$54,774

Down Payment
$46,249
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,249
Loan Amount $138,746
See What Happens When You Reinvest Cash Flow

10.25

YEARS SAVED

$27,584

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,538

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4253$1,4504$1,5305$1,550
$1,550
RENT COMPS ANALYSIS
  • 16394 Long Valley Court Conroe, TX 4
    • 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 2003 4 beds 2 baths ∙ 1,550 Sqft ∙ Built 2003
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.99
    •  
  • 16217 Summerset Estates Boulevard Conroe, TX 1
    • 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,383 Sqft ∙ Built 2004
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $1.01
    •  
  • 16380 Sun View Lane Conroe, TX 2
    • 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,424 Sqft ∙ Built 2003
    LEASED 12/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $1.00
    •  
  • 16236 Sun View Lane Conroe, TX 3
    • 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,521 Sqft ∙ Built 2004
    LEASED 12/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 16192 Sun View Lane Conroe, TX 5
    • 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,534 Sqft ∙ Built 2003
    LEASED 12/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
PROPERTY LISTING DETAILS
Johnathan Canizalez
1.713.470.8478
Gold Quest Realty -galleria
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 72572258
Last Updated: 01/09/2021
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