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19033 Woodridge Drive Conroe, TX 77302

3 Beds 2 Baths 1,334 sqft Built 2005

$210,000

List Price

$1,440

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 03, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $157.42
  • 2 Days on Market
  • MLS # : 39960642
  • Updated Date : 11/02/2020 at 22:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,334 sqft
  • Baths : 2 full
Listing Agent

Jla Realty

Listing Agent's Description

A beautiful 3 bedroom/2 bath brick home sitting on 1.27 acres, nestled in a great neighborhood in Conroe that has never flooded. This 1,334sqft energy efficient home features custom painted kitchen cabinets, a jacuzzi tub in the primary bath, fresh paint inside and out, 18x35 carport with power, 8x8 storage shed, 8x20 chicken coop, and a large gorgeous yard that is fully fenced with a 6ft commercial chain link fence with an automatic gate opener and keypad entry! All kitchen appliances stay, along with the complete home water softener system. Just 30 minutes from Lake Conroe, 5 minutes from shopping and dining at Valley Ranch Town Center, and 15 minutes from the Woodlands... This gem won't last long!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Woodridge Estates

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k237k

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

Neighborhood: Woodridge Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6351677

* 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
San Jacinto Elementary School Primary Regular 724 42 4
Moorhead Junior High School Middle Regular 1,085 77 6
Caney Creek High School High Regular 1,822 120 4

San Jacinto Elementary School

  • Education Level: Primary
  • # of students: 724
  • # of teachers: 42
4
GreatSchools Rating

Moorhead Junior High School

  • Education Level: Middle
  • # of students: 1,085
  • # of teachers: 77
6
GreatSchools Rating

Caney Creek High School

  • Education Level: High
  • # of students: 1,822
  • # of teachers: 120
4
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,296$1,584$1,440

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,440
EXPENSES Loan Payment -$775
Property Tax -$408
Property Insurance -$104
Property Management Fees -$99
CASH FLOW
$54

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$210,000

PROJECTED PRICE

$1,440

PROJECTED RENT

0.69%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 4.2%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$775

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$10,713

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,440

    LIST RENT
  • $1.08

    LIST RENT PER SQFT
  • $1,481

    COMP ESTIMATED VALUE
  • $1.11

    COMP AVG. RENT PER SQFT
Comps Range
$1,440
1$1,4402$1,800
$1,800
RENT COMPS ANALYSIS
  • 19033 Woodridge Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,334 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,440
    • $1.08
    •  
  • 20428 Lakeside Drive Porter, TX 2
    • 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,628 Sqft ∙ Built 2004
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $1.11
    •  
PROPERTY LISTING DETAILS
Rebecca Rawlinson
1.936.776.6832
Jla Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39960642
Last Updated: 11/02/2020
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