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215 Bedford Lane Conroe, TX 77303

4 Beds 2 Baths 1,532 sqft Built 1985

$190,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

November 05, 2020 RECENTLY ADDED
FACTS
  • Built In 1985
  • Price/Sqft : $124.02
  • 4 Days on Market
  • MLS # : 73083666
  • Updated Date : 11/05/2020 at 11:55
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,532 sqft
  • Baths : 2 full
Listing Agent

Arcadi Realty

Listing Agent's Description

Absolutely stunning & completely renovated 4/2 residence situated in the renowned subdivision of Robinwood in Conroe, just minutes away from Lake Conroe and all of the amenities surrounding it! Upon entering, you're greeted by soaring high ceilings cascading into the family room where you will find an elegant wood-burning fireplace at the heart of the home. The oversized kitchen adjacent to the family room boasts pristine granite countertops accented by a gorgeous stone backsplash, dark cabinetry, and an abundance of counter and cabinet space. All four bedrooms are generously sized, including the primary bedroom which flaunts double-doors leading outside, and an en-suite bathroom with a prominent modern-farmhouse touch. Other upgraded features include an added 4th bedroom, roof exhaust piping and all roof equipment have been replaced, and new appliances throughout. This home is priced to sell and won't last long! Schedule a showing today.

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: Robinwood

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $79k237k

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

Neighborhood: Robinwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q27008009001000110012001300140015001600Rent in $6851677

* 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
Peet Junior High School Middle Regular 1,211 79 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

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
 

$171,000$209,000$190,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$701
Property Tax -$369
Property Insurance -$116
HOA -$31
Property Management Fees -$99
CASH FLOW
$134

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 17% of earned rent to cover both maintenance and periods of vacancy.

$190,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.76%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 9.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$56,100

INVESTMENT

$56,100

Down Payment
$47,500
Rehab Estimate
$5,750
Closing Costs
$2,850

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$701

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $47,500
Loan Amount $142,500
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$14,549

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.95

    LIST RENT PER SQFT
  • $1,398

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,275
1$1,2752$1,3503$1,3954$1,4005$1,450
$1,450
RENT COMPS ANALYSIS
  • 215 Bedford Lane Conroe, TX 5
    • 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1985 4 beds 2 baths ∙ 1,532 Sqft ∙ Built 1985
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.95
    •  
  • 3006 Hunnington Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,336 Sqft ∙ Built 1979
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,275
    • $0.95
    •  
  • 220 Hartford Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1979
    LEASED 12/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.84
    •  
  • 239 Hartford Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,416 Sqft ∙ Built 1995
    LEASED 03/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.99
    •  
  • 213 Hartford Conroe, TX 4
    • 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1979 3 beds 2 baths ∙ 1,607 Sqft ∙ Built 1979
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Adam Olsen
1.936.689.9123
Arcadi Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 73083666
Last Updated: 11/05/2020
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