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1745 Cindy Conroe, TX 77304

3 Beds 2 Baths 1,634 sqft Built 2021

$255,990

List Price

$1,590

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $156.66
  • 5 Days on Market
  • MLS # : 56220866
  • Updated Date : 03/20/2021 at 15:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,634 sqft
  • Baths : 2 full
Listing Agent

Re/max Grand

Listing Agent's Description

Gorgeous 1 Story Home! Vinyl plank flooring throughout. Carpet in bedrooms only. Open floor with island kitchen and breakfast that is open to a family room. Fabulous kitchen, granite counters, designer backsplash, undermount sink and stainless steel appliances. Oversized owner retreat with high ceilings, master bath with double sinks, separate shower w/seat & garden tub with a big walk-in closet. Home also features Lyric WiFi thermostat, USB/Plug combo in kitchen and master bedroom, 2" Faux wood blinds, 6 foot privacy fence backyard and much more included in this home!

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

Zip Code: 77304

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Zip Code: 77304

ZipNIR 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
Giesinger Elementary School Primary Regular 509 32 7
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Giesinger Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 32
7
GreatSchools Rating

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

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

$230,391$281,589$255,990

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 -$889
Property Tax -$497
Property Insurance -$121
HOA -$8
Property Management Fees -$99
CASH FLOW
-$25

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$255,990

PROJECTED PRICE

$1,590

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.9%
Maintenance Year (1-5) 3.00%
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

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$69,837

INVESTMENT

$69,837

Down Payment
$63,998
Rehab Estimate
$2,000
Closing Costs
$3,840

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$889

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $63,998
Loan Amount $191,993
See What Happens When You Reinvest Cash Flow

2.25

YEARS SAVED

$3,790

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
  • $0.97

    LIST RENT PER SQFT
  • $1,691

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,470
1$1,4702$1,5503$1,5904$1,6505$1,725
$1,725
RENT COMPS ANALYSIS
  • 1745 Cindy Conroe, TX 3
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2021 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.97
    •  
  • 2019 Lost Pine Court Conroe, TX 1
    • 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2011 3 beds 2 baths ∙ 1,350 Sqft ∙ Built 2011
    LEASED 01/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $1.09
    •  
  • 209 Summer Pine Court Conroe, TX 2
    • 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,450 Sqft ∙ Built 2008
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 303 Broken Pine Court Conroe, TX 4
    • 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,675 Sqft ∙ Built 2009
    LEASED 11/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
  • 211 Summer Pine Court Conroe, TX 5
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2008 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2008
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,725
    • $0.99
    •  
PROPERTY LISTING DETAILS
Grace Harris
1.281.450.1056
Re/max Grand
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 56220866
Last Updated: 03/20/2021
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