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1716 Balsam Spruce Circle Conroe, TX 77301

4 Beds 2 Baths 1,900 sqft Built 2011

$228,750

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 18, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $120.39
  • 4 Days on Market
  • MLS # : 12643466
  • Updated Date : 03/20/2021 at 16:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,900 sqft
  • Baths : 2 full
Listing Agent

Centum Oak Realty

Listing Agent's Description

Beautiful one-story on a corner lot. Upgrades throughout including shiplap accent wall, Ring security system, and upgraded flooring. Large kitchen with granite counters and travertine backsplash. Formal dining room, Breakfast nook, and recently remodeled pantry. Oversized living room, covered back patio with ceiling fan, perfect for entertaining. 4th bedroom could be used as an office or study.

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: Hidden Creek

NeighborhoodNIR Market*CityMarket2010Year20002019100k110k120k130k140k150k160k170k180k190k200k210k220k230kPrice in $99k237k

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

Neighborhood: Hidden Creek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7931677

* 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
Runyan Elementary School Primary Regular 653 37 5
Washington Junior High School Middle Regular 735 57 6
Conroe High School High Regular 3,480 215 4

Runyan Elementary School

  • Education Level: Primary
  • # of students: 653
  • # of teachers: 37
5
GreatSchools Rating

Washington Junior High School

  • Education Level: Middle
  • # of students: 735
  • # of teachers: 57
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$205,875$251,625$228,750

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$795
Property Tax -$559
Property Insurance -$137
HOA -$28
Property Management Fees -$99
CASH FLOW
$62

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.

$228,750

PROJECTED PRICE

$1,680

PROJECTED RENT

0.73%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.9%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$66,369

INVESTMENT

$66,369

Down Payment
$57,188
Rehab Estimate
$5,750
Closing Costs
$3,431

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$795

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $57,188
Loan Amount $171,563
See What Happens When You Reinvest Cash Flow

3.33

YEARS SAVED

$6,242

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,724

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,6804$1,7955$1,950
$1,950
RENT COMPS ANALYSIS
  • 1716 Balsam Spruce Circle Conroe, TX 3
    • 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2011 4 beds 2 baths ∙ 1,900 Sqft ∙ Built 2011
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.88
    •  
  • 1719 Cantrell Boulevard Conroe, TX 1
    • 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1993 3 beds 2 baths ∙ 1,784 Sqft ∙ Built 1993
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.81
    •  
  • 4 Maple Mill Court Conroe, TX 2
    • 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2012 3 beds 2 baths ∙ 1,748 Sqft ∙ Built 2012
    property image
    LEASED 08/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.89
    •  
  • 2951 Twin Cove Court Conroe, TX 4
    • 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,857 Sqft ∙ Built 2017
    property image
    LEASED 02/21/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.97
    •  
  • 2949 Fox Ledge Conroe, TX 5
    • 4 beds 2 baths ∙ 2,039 Sqft ∙ Built 2018 4 beds 2 baths ∙ 2,039 Sqft ∙ Built 2018
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.96
    •  
PROPERTY LISTING DETAILS
James Beck
1.512.772.1238
Centum Oak Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 12643466
Last Updated: 03/20/2021
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