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2014 Midlane Drive Conroe, TX 77301

4 Beds 3 Baths 2,516 sqft Built 2015

$239,900

List Price

$1,700

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $95.35
  • 73 Days on Market
  • MLS # : 79621480
  • Updated Date : 01/04/2021 at 10:06
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,516 sqft
  • Baths : 2 full , 1 half
Listing Agent

Cb & A, Realtors

Listing Agent's Description

Recent construction with front porch elevation located in Briar Grove. 2 story home with everything you need! Four bedrooms, formal dining, game room up and upgrades throughout! 2 story tile entry welcomes you inside. Granite kitchen with tons of cabinet and counter space! Formal dining offers plenty of room for large furniture. Den is open to kitchen and breakfast...perfect for entertaining! Primary bedroom located downstairs. Primary bath features dual sinks, vanity, oversized tub and separate shower. Large game room located upstairs. All secondary bedrooms up and generously sized. Great storage and closet space throughout! Large backyard offers lots of grass area....great for kids & pets!

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

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

$1,530$1,870$1,700

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,700
EXPENSES Loan Payment -$833
Property Tax -$486
Property Insurance -$172
HOA -$25
Property Management Fees -$99
CASH FLOW
$85

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

$1,700

PROJECTED RENT

0.71%

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

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 55% 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

4.33

YEARS SAVED

$10,137

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,700

    LIST RENT
  • $0.68

    LIST RENT PER SQFT
  • $1,705

    COMP ESTIMATED VALUE
  • $0.68

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5753$1,6504$1,6955$1,700
$1,700
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
    •  
    • $1,700
    • $0.68
    •  
  • 2230 Shady Pine Drive Conroe, TX 1
    • 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,244 Sqft ∙ Built 2006
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.67
    •  
  • 235 Doncaster Street Conroe, TX 2
    • 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 3
    • 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 4
    • 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
    •  
PROPERTY LISTING DETAILS
Bridget Moore
1.832.334.3331
Cb & A, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 79621480
Last Updated: 01/04/2021
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