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229 Sunset Path Conroe, TX 77316

3 Beds 2 Baths 1,787 sqft Built 2004

$218,000

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2004
  • Price/Sqft : $121.99
  • 5 Days on Market
  • MLS # : 29525427
  • Updated Date : 01/13/2021 at 16:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,787 sqft
  • Baths : 2 full
Listing Agent

Coldwell Banker Realty

Listing Agent's Description

Welcome home to this fabulous single story home in Tejascreek! Prepare to be WOW'd the second you walk through the door. This open floorplan offers a formal dining area, breakfast area, a dual fireplace for cozy winter nights, and a kitchen that the chef of the house will LOVE! Unwind after a long day in your jetted tub located off the primary bedroom, or simply enjoy the sunset on your covered patio. This home truly sparkles and is just waiting for its new owner. Make this your "Home Sweet Home" today!

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

Neighborhood: Tejascreek

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280kPrice in $101k298k

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

Neighborhood: Tejascreek

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2800900100011001200130014001500160017001800190020002100Rent in $7742163

* 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
Stewart Elementary Primary Unknown 423 31 8
Stewart Elementary Middle Unknown 423 31 8
Conroe High School High Regular 3,480 215 4

Stewart Elementary

  • Education Level: Primary
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Stewart Elementary

  • Education Level: Middle
  • # of students: 423
  • # of teachers: 31
8
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$196,200$239,800$218,000

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$757
Property Tax -$424
Property Insurance -$130
HOA -$27
Property Management Fees -$99
CASH FLOW
$133

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.

$218,000

PROJECTED PRICE

$1,570

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 6.7%
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$12k

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$63,520

INVESTMENT

$63,520

Down Payment
$54,500
Rehab Estimate
$5,750
Closing Costs
$3,270

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$757

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,500
Loan Amount $163,500
See What Happens When You Reinvest Cash Flow

5.33

YEARS SAVED

$12,442

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,693

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,570
1$1,5702$1,6003$1,6954$1,7505$1,775
$1,775
RENT COMPS ANALYSIS
  • 229 Sunset Path Conroe, TX 1
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2004
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $0.88
    •  
  • 104 Lullabye Lane Conroe, TX 2
    • 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,588 Sqft ∙ Built 2007
    LEASED 02/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.01
    •  
  • 228 Sunset Path Conroe, TX 3
    • 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 2004 4 beds 3 baths ∙ 1,876 Sqft ∙ Built 2004
    LEASED 01/05/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.90
    •  
  • 241 Mesa View Conroe, TX 4
    • 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,983 Sqft ∙ Built 2003
    LEASED 12/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.88
    •  
  • 113 Golfview Drive Montgomery, TX 5
    • 4 beds 3 baths ∙ 1,774 Sqft ∙ Built 1999 4 beds 3 baths ∙ 1,774 Sqft ∙ Built 1999
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $1.00
    •  
PROPERTY LISTING DETAILS
Melody Pevateaux
1.281.766.4482
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 #: 29525427
Last Updated: 01/13/2021
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