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2307 Tarrytown Crossing Drive Conroe, TX 77304

4 Beds 3 Baths 2,383 sqft Built 2006

$225,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 16, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $94.42
  • 2 Days on Market
  • MLS # : 10076062
  • Updated Date : 01/16/2021 at 09:04
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,383 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

Beautiful 2 story, 4 bedroom, 2.5 baths, 2 car attached garage in the Teas Lakes Subdivision. Open floor plan with master down and large living area with fireplace. Kitchen features 42 inch cabinets, black appliances with stainless steel refrigerator and breakfast area. Master suite with vaulted ceilings, garden tub with separate shower, double sinks, tile flooring and walk in closet. Upstairs you will find a spacious game room and 3 secondary bedrooms. Large back yard for family barbecues. Walking distance to the community lake with walking trails and fishing pier. Just minutes to I-45 and Lake Conroe.

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
 

$202,500$247,500$225,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$782
Property Tax -$437
Property Insurance -$165
HOA -$29
Property Management Fees -$99
CASH FLOW
$168

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.

$225,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.75%

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$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$65,375

INVESTMENT

$65,375

Down Payment
$56,250
Rehab Estimate
$5,750
Closing Costs
$3,375

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$782

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $56,250
Loan Amount $168,750
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,700

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $1,728

    COMP ESTIMATED VALUE
  • $0.73

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6803$1,7504$1,7725$1,800
$1,800
RENT COMPS ANALYSIS
  • 2307 Tarrytown Crossing Drive Conroe, TX 2
    • 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,383 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.70
    •  
  • 2213 Perkins Crossing Drive Conroe, TX 1
    • 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,425 Sqft ∙ Built 2005
    LEASED 01/06/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.68
    •  
  • 2211 Highland Crossing Drive Conroe, TX 3
    • 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2005 4 beds 3 baths ∙ 2,264 Sqft ∙ Built 2005
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.77
    •  
  • 2306 Siegen Drive Conroe, TX 4
    • 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,492 Sqft ∙ Built 2007
    LEASED 02/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,772
    • $0.71
    •  
  • 2310 Siegen Conroe, TX 5
    • 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2007 4 beds 3 baths ∙ 2,426 Sqft ∙ Built 2007
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.74
    •  
PROPERTY LISTING DETAILS
Michael Bass
1.713.295.0077
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10076062
Last Updated: 01/16/2021
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