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17616 White Perch Lake Drive Conroe, TX 77384

5 Beds 4 Baths 2,981 sqft Built 1995

$369,000

List Price

$2,670

$2.4K - $2.9K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1995
  • Price/Sqft : $123.78
  • 3 Days on Market
  • MLS # : 36560749
  • Updated Date : 01/02/2021 at 10:40
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,981 sqft
  • Baths : 4 full
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

Unique rustic lakefront property adjacent to The Woodlands zoned to Woodlands Schools with quick and easy access to I-45, area hospitals and all the amenities of The Woodlands...located in the peaceful lake community of Lakeland. Enjoy the tranquility of the lake and wooded surroundings & great views from your deck or pick up a fishing rod and go fish on the lake. Extensive storage & parking areas on the ground level. Main house has 5 bedrooms with two large living rooms and kitchens. Guest apartment has mini kitchen, living room bed & bath, separate entrance. Great for large or multi-generational families. Feels like a mountain lodge truly a special place to call home. Owner says property has never flooded. Sits high.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Grogan's Forest

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450kPrice in $107k466k

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

Neighborhood: Grogan's Forest

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000120014001600180020002200240026002800Rent in $8932977

* 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
Lamar Elementary School Primary Regular 713 41 7
Knox Junior High School Middle Regular 1,252 71 9
The Woodlands College Park High School High Regular 2,794 161 9

Lamar Elementary School

  • Education Level: Primary
  • # of students: 713
  • # of teachers: 41
7
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
 

$332,100$405,900$369,000

PURCHASE PRICE

$2,403$2,937$2,670

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,670
EXPENSES Loan Payment -$1,361
Property Tax -$717
Property Insurance -$199
HOA -$20
Property Management Fees -$99
CASH FLOW
$273

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.

$369,000

PROJECTED PRICE

$2,670

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) -1.6%
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$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$103,535

INVESTMENT

$103,535

Down Payment
$92,250
Rehab Estimate
$5,750
Closing Costs
$5,535

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$1,361

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $92,250
Loan Amount $276,750
See What Happens When You Reinvest Cash Flow

6.08

YEARS SAVED

$29,020

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,670

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,877

    COMP ESTIMATED VALUE
  • $0.97

    COMP AVG. RENT PER SQFT
Comps Range
$2,670
1$2,6702$2,6753$2,8954$3,0005$3,200
$3,200
RENT COMPS ANALYSIS
  • 17616 White Perch Lake Drive Conroe, TX 1
    • 5 beds 4 baths ∙ 2,981 Sqft ∙ Built 1995 5 beds 4 baths ∙ 2,981 Sqft ∙ Built 1995
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,670
    • $0.90
    •  
  • 38 Terraglen Drive The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,757 Sqft ∙ Built 1994
    property image
    LEASED 09/24/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,675
    • $0.97
    •  
  • 10 Gentlewind Place The Woodlands, TX 3
    • 4 beds 4 baths ∙ 3,094 Sqft ∙ Built 1992 4 beds 4 baths ∙ 3,094 Sqft ∙ Built 1992
    property image
    LEASED 11/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,895
    • $0.94
    •  
  • 35 S Silver Crescent Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 3,046 Sqft ∙ Built 1994 4 beds 3 baths ∙ 3,046 Sqft ∙ Built 1994
    property image
    LEASED 09/20/19
    • Rent
    • Rent Per SQFT
    •  
    • $3,000
    • $0.98
    •  
  • 1479 Torrijos Court Shenandoah, TX 5
    • 4 beds 3 baths ∙ 3,303 Sqft ∙ Built 2011 4 beds 3 baths ∙ 3,303 Sqft ∙ Built 2011
    property image
    LEASED 11/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $3,200
    • $0.97
    •  
PROPERTY LISTING DETAILS
Lisa Roth
1.281.740.2480
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 #: 36560749
Last Updated: 01/02/2021
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