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16810 Blackberry Lily Lane Conroe, TX 77385

3 Beds 2 Baths 1,819 sqft Built 2010

$215,000

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2010
  • Price/Sqft : $118.20
  • 7 Days on Market
  • MLS # : 5469072
  • Updated Date : 01/23/2021 at 23:37
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,819 sqft
  • Baths : 2 full
Listing Agent

Re/max Fine Properties

Listing Agent's Description

Beautiful sought after 1 story home*Located in a family oriented neighborhood with fantastic amenities, Large Playground, Pool, Splash Pad and much more*Great Schools, Shopping & Churches Close by*Spacious Open Living Room w/Gas Log Fireplace, Beautiful Laminate in Foyer & Neutral Carpeting in Living Rm, Lot's of Windows*TV Wall Mount already in place for your Big Screen TV*Breakfast Bar Open to Living Area*Spacious Kitchen, Gas Stove, Water Softener System* Pretty Kitchen Cabinets, Beautiful 18" Tile Flooring, Large Pantry, Light & Bright Breakfast Room! Lovely Dining Room w/Laminate Flooring*Primary Bedroom w/Beautiful Bathroom w/Separate Shower, Garden Tub & Double Vanities*Ceiling Fans in Living Room and all bedrooms! Hardwire 4 camera security system installed! Storage Shed in Backyard*Drainage line installed from Back to Front yard! Low tax rate! Hurry on this one it won't last!

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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,431$1,749$1,590

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,590
EXPENSES Loan Payment -$747
Property Tax -$517
Property Insurance -$132
HOA -$25
Property Management Fees -$99
CASH FLOW
$70

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.

$215,000

PROJECTED PRICE

$1,590

PROJECTED RENT

0.74%

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$747

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$5,926

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,590

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,655

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,5903$1,5954$1,6255$1,700
$1,700
RENT COMPS ANALYSIS
  • 16810 Blackberry Lily Lane Conroe, TX 2
    • 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,819 Sqft ∙ Built 2010
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.87
    •  
  • 9823 Cassowary Drive Conroe, TX 1
    • 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,706 Sqft ∙ Built 2005
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.92
    •  
  • 16787 Fallen Timbers Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,840 Sqft ∙ Built 2006
    LEASED 12/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.87
    •  
  • 16822 Accolade Way Conroe, TX 4
    • 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2010 3 beds 3 baths ∙ 1,819 Sqft ∙ Built 2010
    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
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.96
    •  
PROPERTY LISTING DETAILS
Margaret Campbell
1.713.302.8033
Re/max Fine Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 5469072
Last Updated: 01/23/2021
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