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2302 Siegen Drive Conroe, TX 77304

4 Beds 2 Baths 1,844 sqft Built 2007

$200,000

List Price

$1,510

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

January 14, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $108.46
  • 5 Days on Market
  • MLS # : 95647313
  • Updated Date : 01/15/2021 at 07:21
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,844 sqft
  • Baths : 2 full
Listing Agent

Roreco

Listing Agent's Description

Come quick to see this beautifully kept 4 bedroom 2 bathroom home that sits on a culdesac and backs up to forest with no back neighbors. The property features a great front patio, a large living room with gas fireplace and high ceilings. The dining and kitchen area is spacious with a moveable island, granite counter tops, good sized pantry, and recently purchased appliances. The primary bedroom features high ceilings as well, windows that look out into the woods behind the property, an en suite bathroom, and a massive walk in closet. There are three additional bedrooms that provide plenty of space for a home office.

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: 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

$1,359$1,661$1,510

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,510
EXPENSES Loan Payment -$695
Property Tax -$389
Property Insurance -$134
HOA -$21
Property Management Fees -$99
CASH FLOW
$173

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

$1,510

PROJECTED RENT

0.76%

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.

$695

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $50,000
Loan Amount $150,000
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$14,191

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,510

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,618

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$1,510
1$1,5102$1,5503$1,5954$1,6005$1,700
$1,700
RENT COMPS ANALYSIS
  • 2302 Siegen Drive Conroe, TX 1
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2007 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,510
    • $0.82
    •  
  • 2306 Perkins Crossing Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005
    property image
    LEASED 03/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $0.87
    •  
  • 7514 Fettle Lane Conroe, TX 3
    • 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2017 4 beds 2 baths ∙ 1,844 Sqft ∙ Built 2017
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.86
    •  
  • 8028 N Tarrytown Crossing Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2006
    property image
    LEASED 02/29/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.83
    •  
  • 7510 Fettle Lane Conroe, TX 5
    • 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,787 Sqft ∙ Built 2017
    property image
    LEASED 11/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.95
    •  
PROPERTY LISTING DETAILS
Rusty Gates
1.720.393.0779
Roreco
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95647313
Last Updated: 01/15/2021
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