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16803 Fallen Timbers Drive Conroe, TX 77385

3 Beds 2 Baths 1,794 sqft Built 2013

$210,000

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2013
  • Price/Sqft : $117.06
  • 33 Days on Market
  • MLS # : 75738588
  • Updated Date : 01/07/2021 at 11:28
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,794 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Premier Realty

Listing Agent's Description

Welcome to this lovely and meticulously-maintainted home in Montgomery Creek Ranch. Original owners. Located 10 minutes from The Woodlands and just minutes from great shopping, Costco, and medical facilities. This one story home features a lovely front porch, 3 bedrooms, 2 bathrooms, 2 car garage and a bonus room that could be used as a study, flex space, play room, and possibly even a 4th bedroom. Kitchen features a breakfast bar and is open to the family room. Look at the size of all 3 bedrooms. Lots of room for all of your furnishings. Low hoa. If you've been looking for a great home for the holidays, this one is it. We don't expect this to last long. Quick closing can be accommodated (even before the end of the year).

SEE MORE

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: Montgomery Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Montgomery Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8932063

* 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
Oak Ridge Elementary School Primary Regular 563 33 6
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Oak Ridge Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 33
6
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$189,000$231,000$210,000

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 -$729
Property Tax -$505
Property Insurance -$131
HOA -$25
Property Management Fees -$99
CASH FLOW
$41

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.

$210,000

PROJECTED PRICE

$1,530

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
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

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$4,428

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
  • $0.85

    LIST RENT PER SQFT
  • $1,579

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,5303$1,5804$1,6255$1,700
$1,700
RENT COMPS ANALYSIS
  • 16803 Fallen Timbers Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.85
    •  
  • 16771 N Thrasher Drive Conroe, TX 1
    • 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2007 4 beds 3 baths ∙ 1,816 Sqft ∙ Built 2007
    property image
    LEASED 03/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $0.79
    •  
  • 9920 Hyacinth Way Conroe, TX 3
    • 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,794 Sqft ∙ Built 2013
    property image
    LEASED 12/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,580
    • $0.88
    •  
  • 16822 Accolade Way Conroe, TX 4
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2010
    property image
    LEASED 10/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.89
    •  
  • 16882 Blackberry Lily Lane Conroe, TX 5
    • 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,770 Sqft ∙ Built 2009
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Debbie Spence
1.832.654.5004
Keller Williams Premier Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 75738588
Last Updated: 01/07/2021
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