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170 Meadow Grove Drive Conroe, TX 77384

4 Beds 2 Baths 2,184 sqft Built 2015

$279,900

List Price

$2,110

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $128.16
  • 2 Days on Market
  • MLS # : 55334647
  • Updated Date : 03/06/2021 at 06:47
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,184 sqft
  • Baths : 2 full
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Adorable 4 bedroom 1 story located at the end of a quiet cul-de-sac. Tiled entry, front secondary bedroom/ play room or office. Large dining room, open kitchen to family room with granite countertops, spacious master retreat with en-suite bath with tub and shower. Spilt plan with an additional two secondary bedrooms. Home has been meticulously maintained. Large back yard with plenty of play space, covered patio and a sprinkler system. Washer, dryer and fridge are included! Stone and brick exterior. Convenient access to FM 1488 and I-45. Walking distance to the park. Woodlands schools!

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: Jacobs Reserve

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360kPrice in $107k378k

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

Neighborhood: Jacobs Reserve

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000210022002300Rent in $8932308

* 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
Sally Ride Elementary School Primary Regular 568 36 9
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Sally Ride Elementary School

  • Education Level: Primary
  • # of students: 568
  • # of teachers: 36
9
GreatSchools Rating

Knox Junior High School

  • Education Level: Middle
  • # of students: 1,252
  • # of teachers: 71
9
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$251,910$307,890$279,900

PURCHASE PRICE

$1,899$2,321$2,110

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,110
EXPENSES Loan Payment -$972
Property Tax -$698
Property Insurance -$153
HOA -$54
Property Management Fees -$99
CASH FLOW
$133

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.

$279,900

PROJECTED PRICE

$2,110

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 1.7%
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$700k

PROJECTED ANNUAL CASH FLOW

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

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$79,924

INVESTMENT

$79,924

Down Payment
$69,975
Rehab Estimate
$5,750
Closing Costs
$4,199

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$972

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $69,975
Loan Amount $209,925
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$9,832

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,110

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $2,097

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,890
1$1,8902$2,1003$2,1004$2,1105$2,250
$2,250
RENT COMPS ANALYSIS
  • 170 Meadow Grove Drive Conroe, TX 4
    • 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2015 4 beds 2 baths ∙ 2,184 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,110
    • $0.97
    •  
  • 110 Sweet Leaf Grove Lane Conroe, TX 1
    • 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,080 Sqft ∙ Built 2009
    property image
    LEASED 10/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,890
    • $0.91
    •  
  • 138 Meadow Landing Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2013 3 beds 2 baths ∙ 2,156 Sqft ∙ Built 2013
    property image
    LEASED 12/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.97
    •  
  • 1054 Forest Haven Court Conroe, TX 3
    • 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 2010 3 beds 2 baths ∙ 2,128 Sqft ∙ Built 2010
    property image
    LEASED 10/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.99
    •  
  • 102 Arbor Hill Court Conroe, TX 5
    • 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2009 3 beds 3 baths ∙ 2,318 Sqft ∙ Built 2009
    property image
    LEASED 09/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.97
    •  
PROPERTY LISTING DETAILS
Andrea Keiller
1.281.799.9577
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 55334647
Last Updated: 03/06/2021
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