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22 Windswept Oaks Place Conroe, TX 77385

4 Beds 2 Baths 1,937 sqft Built 2001

INVESTimate

$242,000

List Price

$1,710

$1,539 - $1,881

Rent Est.

$251,898  ( +4.09%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $124.94
  • 3 Days on Market
  • MLS # : 81638668
  • Updated Date : 08/24/2020 at 23:17
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,937 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Charming 4 bedroom 2 bath one-story home centrally located in Harper's Landing! Very open floor plan. Enormous family room with vaulted ceiling, features a corner fireplace, hickory laminate wood floors and large windows for lots of natural. The kitchen is the heart of this home with island, long breakfast bar, and abundant counter & cabinet space! Large walk-in utility room/pantry. Wood floors in all bedrooms/study and family room. All bedrooms with large closets! Beautiful neutral colors and move in ready!! Meticulously cared for and updated, look at this list: HVAC 2017, Roof 2016, Water heater 2017, Exterior and Interior paint 2020, gorgeous hickory laminate flooring 2020, dishwasher 2018, siding and back door 2020, backyard sprinklers!! Amazing location, mature landscape, nice sized yard!

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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: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Harper's Landing

NeighborhoodNIR 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
Collins Intermediate School Primary Regular 674 36 10
Collins Intermediate School Middle Regular 674 36 10
The Woodlands College Park High School High Regular 2,794 161 9

Collins Intermediate School

  • Education Level: Primary
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

Collins Intermediate School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$217,800$266,200$242,000

PURCHASE PRICE

$1,539$1,881$1,710

RENT

DOWN PAYMENT
FINANCING

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-$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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,710
EXPENSES Loan Payment -$893
Property Tax -$504
Property Insurance -$139
Property Management Fees -$99
CASH FLOW
$76

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.

$242,000

PROJECTED PRICE

$1,710

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.09%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$69,880

INVESTMENT

$69,880

Down Payment
$60,500
Rehab Estimate
$5,750
Closing Costs
$3,630

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$893

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $60,500
Loan Amount $181,500
See What Happens When You Reinvest Cash Flow

3.92

YEARS SAVED

$9,947

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,710

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,729

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6953$1,7104$1,8505$1,850
$1,850
RENT COMPS ANALYSIS
  • 22 Windswept Oaks Place Conroe, TX 3
    • 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,937 Sqft ∙ Built 2001
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,710
    • $0.88
    •  
  • 91 N Bendrook Loop Conroe, TX 1
    • 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,833 Sqft ∙ Built 2004
    property image
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.90
    •  
  • 91 N Misty Dawn Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,945 Sqft ∙ Built 2002
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.87
    •  
  • 127 N Delta Mill Circle The Woodlands, TX 4
    • 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,119 Sqft ∙ Built 2000
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.87
    •  
  • 19 Wild Orchid Ct Conroe, TX 5
    • 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,990 Sqft ∙ Built 2003
    property image
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.93
    •  
PROPERTY LISTING DETAILS
Jeanne Eschenfelder
1.281.363.2500
Coldwell Banker Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 81638668
Last Updated: 08/24/2020
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