Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

16806 Blackberry Lily Lane Conroe, TX 77385

3 Beds 2 Baths 1,590 sqft Built 2011

$193,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

November 21, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $121.38
  • 3 Days on Market
  • MLS # : 64350638
  • Updated Date : 11/20/2020 at 18:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,590 sqft
  • Baths : 2 full
Listing Agent

Texas Home Group, Realtors

Listing Agent's Description

Charming 3/2/2 home located in Montgomery Creek Ranch Subdivision. This home offers a spacious living area with a beautiful kitchen and breakfast area. Upgraded 18 inch tile in living and kitchen. Spacious bedrooms with recent carpet and freshly painted interior, the primary suite offers a large walk in closet with plenty of storage space, as well as large garden tub and walk in shower. Home also includes a water softener. Subdivision offers a community pool and splash pad along with walking paths and playground. Located conveniently near I-45 , enjoy easy access to premier shopping , dining, and entertainment. Students attend Acclaimed Conroe Independent School District. Don't miss out on this great home, schedule your appointment today!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

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

Vogel Intermediate School

  • Education Level: Primary
  • # of students: 1,072
  • # of teachers: 61
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
 

$173,700$212,300$193,000

PURCHASE PRICE

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$712
Property Tax -$464
Property Insurance -$119
HOA -$25
Property Management Fees -$99
CASH FLOW
$91

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.

$193,000

PROJECTED PRICE

$1,510

PROJECTED RENT

0.78%

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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,895

INVESTMENT

$56,895

Down Payment
$48,250
Rehab Estimate
$5,750
Closing Costs
$2,895

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$712

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,250
Loan Amount $144,750
See What Happens When You Reinvest Cash Flow

4.25

YEARS SAVED

$8,693

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,546

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,5003$1,5104$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 16806 Blackberry Lily Lane Conroe, TX 3
    • 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,590 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.95
    •  
  • 16957 Wren Hill Street Conroe, TX 1
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2007
    LEASED 03/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.92
    •  
  • 16882 Accolade Way Conroe, TX 2
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 2011
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.97
    •  
  • 16957 Valiant Oak Street Conroe, TX 4
    • 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,528 Sqft ∙ Built 2007
    LEASED 10/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.01
    •  
  • 16868 Tableland Trail Conroe, TX 5
    • 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,724 Sqft ∙ Built 2013
    LEASED 11/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.99
    •  
PROPERTY LISTING DETAILS
Karen Coker
1.281.513.3439
Texas Home Group, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64350638
Last Updated: 11/20/2020
BESbswy