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2014 Midlane Drive Conroe, TX 77301

4 Beds 3 Baths 2,516 sqft Built 2015

$239,900

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

January 24, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $95.35
  • 2 Days on Market
  • MLS # : 59360792
  • Updated Date : 01/23/2021 at 17:45
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,516 sqft
  • Baths : 2 full , 1 half
Listing Agent

Tm5 Properties

Listing Agent's Description

Rest easy on the adorable front porch of this Briar Grove home. With a split floor plan, formal dining, game room upstairs and lots of updates! The chef of the family will enjoy the granite countertops, open concept to the living room, and abundant counter space. There is a breakfast area for eating, and a large formal dining room for entertaining. The primary bath has double vanity, oversized tub & a separate shower. You'll also find lots of storage and spacious closets throughout!

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: 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
 

$215,910$263,890$239,900

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$833
Property Tax -$466
Property Insurance -$172
HOA -$25
Property Management Fees -$99
CASH FLOW
$174

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.

$239,900

PROJECTED PRICE

$1,770

PROJECTED RENT

0.74%

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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$69,324

INVESTMENT

$69,324

Down Payment
$59,975
Rehab Estimate
$5,750
Closing Costs
$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $59,975
Loan Amount $179,925
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$17,124

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,749

    COMP ESTIMATED VALUE
  • $0.7

    COMP AVG. RENT PER SQFT
Comps Range
$1,575
1$1,5752$1,6503$1,6954$1,7005$1,770
$1,770
RENT COMPS ANALYSIS
  • 2014 Midlane Drive Conroe, TX 5
    • 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,516 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.70
    •  
  • 235 Doncaster Street Conroe, TX 1
    • 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,543 Sqft ∙ Built 2004
    property image
    LEASED 04/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $0.62
    •  
  • 616 Orchid Hill Drive Conroe, TX 2
    • 4 beds 4 baths ∙ 2,430 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,430 Sqft ∙ Built 2015
    property image
    LEASED 09/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 1052 Shadow Glenn Drive Conroe, TX 3
    • 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,302 Sqft ∙ Built 2007
    property image
    LEASED 06/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.74
    •  
  • 1054 Windy Grove Lane Conroe, TX 4
    • 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,283 Sqft ∙ Built 2006
    property image
    LEASED 12/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
PROPERTY LISTING DETAILS
Katie Langthorn
1.281.850.7743
Tm5 Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 59360792
Last Updated: 01/23/2021
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