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1906 Parnevik Place Conroe, TX 77304

3 Beds 2 Baths 2,130 sqft Built 2020

INVESTimate

$309,995

List Price

$2,010

$1,809 - $2,211

Rent Est.

$325,123  ( +4.88%)   1 YR EST. FORECAST

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
August 20, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $145.54
  • 7 Days on Market
  • MLS # : 77277211
  • Updated Date : 08/24/2020 at 10:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,130 sqft
  • Baths : 2 full
Listing Agent

Kb Home Houston

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

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
 

$278,996$340,995$309,995

PURCHASE PRICE

$1,809$2,211$2,010

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

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$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,010
EXPENSES Loan Payment -$1,144
Property Tax -$602
Property Insurance -$150
HOA -$55
Property Management Fees -$99
CASH FLOW
-$41

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.

$309,995

PROJECTED PRICE

$2,010

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.88%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$84,149

INVESTMENT

$84,149

Down Payment
$77,499
Rehab Estimate
$2,000
Closing Costs
$4,650

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,144

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $77,499
Loan Amount $232,496
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$5,141

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,010

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,848

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$2,0003$2,0004$2,0105$2,200
$2,200
RENT COMPS ANALYSIS
  • 1906 Parnevik Place Conroe, TX 4
    • 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 2020 3 beds 3 baths ∙ 2,130 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,010
    • $0.94
    •  
  • 2513 Angela Faye Way Conroe, TX 1
    • 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 2538 Holly Laurel Manor Conroe, TX 2
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 2019
    property image
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 2607 Kimberly Dawn Drive Conroe, TX 3
    • 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2004
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1718 Wandering Hills Road Conroe, TX 5
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2018
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
PROPERTY LISTING DETAILS
Lance Loken
1.713.589.5035
Kb Home Houston
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 77277211
Last Updated: 08/24/2020
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