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1919 Briar Grove Drive Conroe, TX 77301

4 Beds 2 Baths 1,759 sqft Built 2017

$219,900

List Price

$1,740

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2017
  • Price/Sqft : $125.01
  • 2 Days on Market
  • MLS # : 15935622
  • Updated Date : 11/02/2020 at 06:10
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,759 sqft
  • Baths : 2 full
Listing Agent

Beyond Real Estate

Listing Agent's Description

This barely lived home features open plan entertainment areas with living and dining areas.The 4 bedroom 2 bath home all on one level can accommodate your most discriminating buyers! The tiled backsplash and designer granite entertainment bar is ready for those family gatherings! The subdivision is close to shopping areas and banks and minutes from I -45 for easy commute to Woodlands.

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

Zip Code: 77301

ZipNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $69k237k

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

Zip Code: 77301

ZipNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6841677

* 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
Anderson Elementary School Primary Regular 673 44 9
Bozman Intermediate School Middle Regular 746 45 6
Conroe High School High Regular 3,480 215 4

Anderson Elementary School

  • Education Level: Primary
  • # of students: 673
  • # of teachers: 44
9
GreatSchools Rating

Bozman Intermediate School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 45
6
GreatSchools Rating

Conroe High School

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

$197,910$241,890$219,900

PURCHASE PRICE

$1,566$1,914$1,740

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,740
EXPENSES Loan Payment -$811
Property Tax -$427
Property Insurance -$129
HOA -$25
Property Management Fees -$99
CASH FLOW
$249

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.

$219,900

PROJECTED PRICE

$1,740

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.6%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k$16k

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

8.33

YEARS SAVED

$28,409

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,740

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.96

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5953$1,5954$1,6005$1,740
$1,740
RENT COMPS ANALYSIS
  • 1919 Briar Grove Drive Conroe, TX 5
    • 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,759 Sqft ∙ Built 2017
    • Rent
    • Rent Per SQFT
    •  
    • $1,740
    • $0.99
    •  
  • 10 Briar Grove Court Conroe, TX 1
    • 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,562 Sqft ∙ Built 2007
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.99
    •  
  • 1024 Shadow Glenn Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,680 Sqft ∙ Built 2015
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.95
    •  
  • 2205 Maple Point Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,635 Sqft ∙ Built 2015
    LEASED 02/27/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.98
    •  
  • 1045 Shadow Glenn Drive Conroe, TX 4
    • 3 beds 4 baths ∙ 1,734 Sqft ∙ Built 2014 3 beds 4 baths ∙ 1,734 Sqft ∙ Built 2014
    LEASED 04/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.92
    •  
PROPERTY LISTING DETAILS
Bethany Laub
1.713.320.4044
Beyond Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 15935622
Last Updated: 11/02/2020
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