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22946 Highland Estates Court Conroe, TX 77385

5 Beds 3 Baths 2,980 sqft Built 2002

$315,000

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $105.70
  • 3 Days on Market
  • MLS # : 53041810
  • Updated Date : 03/05/2021 at 19:25
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,980 sqft
  • Baths : 2 full , 1 half
Listing Agent

K & T Realty Group, Inc.

Listing Agent's Description

Gorgeous home on a quiet cul-de-sac; Open floor plan; Updated wood and travertine flooring, Updated light fixtures; Huge kitchen w/maple cabinets & Granite counter tops; High ceilings, Huge Primary bedroom suite; sit and enjoy covered patio with wooded views. Very Private backyard. Only 5 mins from the Woodlands Mall, minutes from I45,Hardy toll Rd and 99.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Imperial Oaks Estates

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Imperial Oaks Estates

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2900100011001200130014001500160017001800190020002100Rent in $8932193

* 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
Kaufman Elementary School Primary Regular 864 51 10
Gerald D Irons Jr High School Middle Unknown 1,102 70 NA
Oak Ridge High School High Regular 3,637 202 8

Kaufman Elementary School

  • Education Level: Primary
  • # of students: 864
  • # of teachers: 51
10
GreatSchools Rating

Gerald D Irons Jr High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 70
NA
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$283,500$346,500$315,000

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,094
Property Tax -$778
Property Insurance -$199
HOA -$42
Property Management Fees -$99
CASH FLOW
$68

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.

$315,000

PROJECTED PRICE

$2,280

PROJECTED RENT

0.72%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.4%
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$700k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$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$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,225

INVESTMENT

$89,225

Down Payment
$78,750
Rehab Estimate
$5,750
Closing Costs
$4,725

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,094

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $78,750
Loan Amount $236,250
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$6,477

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $2,384

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$2,145
1$2,1452$2,2553$2,2804$2,3005$2,500
$2,500
RENT COMPS ANALYSIS
  • 22946 Highland Estates Court Conroe, TX 3
    • 5 beds 3 baths ∙ 2,980 Sqft ∙ Built 2002 5 beds 3 baths ∙ 2,980 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.77
    •  
  • 3006 Rose Trace Drive Spring, TX 1
    • 4 beds 4 baths ∙ 2,692 Sqft ∙ Built 2013 4 beds 4 baths ∙ 2,692 Sqft ∙ Built 2013
    LEASED 12/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,145
    • $0.80
    •  
  • 3014 Rose Trace Drive Spring, TX 2
    • 5 beds 4 baths ∙ 2,823 Sqft ∙ Built 2013 5 beds 4 baths ∙ 2,823 Sqft ∙ Built 2013
    LEASED 02/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,255
    • $0.80
    •  
  • 31839 Forest Oak Lane Conroe, TX 4
    • 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2008 4 beds 3 baths ∙ 3,000 Sqft ∙ Built 2008
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.77
    •  
  • 2714 Linden Park Lane Spring, TX 5
    • 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2005 4 beds 3 baths ∙ 3,030 Sqft ∙ Built 2005
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.83
    •  
PROPERTY LISTING DETAILS
Jamal Lahlali
1.832.655.4458
K & T Realty Group, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 53041810
Last Updated: 03/05/2021
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