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2208 Highpoint Meadow Conroe, TX 77304

3 Beds 2 Baths 1,850 sqft Built 2002

$200,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

October 31, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $108.11
  • 4 Days on Market
  • MLS # : 60700836
  • Updated Date : 11/02/2020 at 09:56
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,850 sqft
  • Baths : 2 full
Listing Agent

Re/max Integrity

Listing Agent's Description

Delightful 3 bed/ 2 bath home located in the subdivision of Teas Lakes. This one-story gem offers comfortable living with an open floor. Bright and airy with brand new carpet and fresh paint throughout. This turn-key home sits on a corner lot ready for a new family. Located with close access to I-45 for an easy commute.

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: Teas Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $102k305k

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

Neighborhood: Teas Lakes

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7992063

* 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
A.r. Turner Elementary School Primary Regular 574 32 7
Robert P. Brabham Middle School Middle Regular 791 43 5
Willis High School High Regular 1,944 117 4

A.r. Turner Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 32
7
GreatSchools Rating

Robert P. Brabham Middle School

  • Education Level: Middle
  • # of students: 791
  • # of teachers: 43
5
GreatSchools Rating

Willis High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 117
4
GreatSchools Rating
 

$180,000$220,000$200,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$738
Property Tax -$389
Property Insurance -$134
HOA -$21
Property Management Fees -$99
CASH FLOW
$160

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.

$200,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,750

INVESTMENT

$58,750

Down Payment
$50,000
Rehab Estimate
$5,750
Closing Costs
$3,000

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$738

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

6.17

YEARS SAVED

$15,830

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,545

    COMP ESTIMATED VALUE
  • $0.84

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5253$1,5254$1,5405$1,550
$1,550
RENT COMPS ANALYSIS
  • 2208 Highpoint Meadow Conroe, TX 4
    • 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,850 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.83
    •  
  • 2224 Trey Rogillios Way Conroe, TX 1
    • 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,722 Sqft ∙ Built 2004
    LEASED 11/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.84
    •  
  • 2220 Highpoint Meadow Conroe, TX 2
    • 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2002 4 beds 2 baths ∙ 2,024 Sqft ∙ Built 2002
    LEASED 02/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.75
    •  
  • 2317 Highland Crossing Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,738 Sqft ∙ Built 2005
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.88
    •  
  • 2306 Perkins Crossing Drive Conroe, TX 5
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
PROPERTY LISTING DETAILS
Petra Oliver
1.832.577.5044
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 60700836
Last Updated: 11/02/2020
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