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2313 Perkins Crossing Drive Conroe, TX 77304

3 Beds 2 Baths 1,563 sqft Built 2005

INVESTimate

$194,900

List Price

$1,470

$1,323 - $1,617

Rent Est.

$201,975  ( +3.63%)   1 YR EST. FORECAST

PROPERTY INFO

August 22, 2020 RECENTLY ADDED
FACTS
  • Built In 2005
  • Price/Sqft : $124.70
  • 6 Days on Market
  • MLS # : 67952666
  • Updated Date : 08/24/2020 at 09:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,563 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

One of a kind 3/2/2 home featuring a oversize back patio, Koi pond and a Pergola w/ concrete foundation making this back yard ready for your family! Recent updates at every turn include stainless kitchen appliances, water heater and light fixtures. Nestled perfectly between I-45 for quick access to entertainment and shopping and just over a mile to Lake Conroe for water sports and beautiful sunsets. Then retreat to your quiet cul-de-sac street into your living space with vaulted ceilings and cozy fireplace and after a great day retire to your primary suite with double sinks, garden tub and stand alone shower. Make it yours before someone else does!

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
 

$175,410$214,390$194,900

PURCHASE PRICE

$1,323$1,617$1,470

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,470
EXPENSES Loan Payment -$719
Property Tax -$379
Property Insurance -$117
HOA -$21
Property Management Fees -$99
CASH FLOW
$135

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.

$194,900

PROJECTED PRICE

$1,470

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.63%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$57,399

INVESTMENT

$57,399

Down Payment
$48,725
Rehab Estimate
$5,750
Closing Costs
$2,924

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$719

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $48,725
Loan Amount $146,175
See What Happens When You Reinvest Cash Flow

5.58

YEARS SAVED

$13,879

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,470

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,469

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,395
1$1,3952$1,4003$1,4504$1,4705$1,525
$1,525
RENT COMPS ANALYSIS
  • 2313 Perkins Crossing Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,563 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,470
    • $0.94
    •  
  • 2215 Nicholas Crossing Conroe, TX 1
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 2004
    LEASED 04/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,395
    • $0.95
    •  
  • 2205 Jefferson Crossing Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,497 Sqft ∙ Built 2007
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $0.94
    •  
  • 7808 Board Crossing Conroe, TX 3
    • 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,471 Sqft ∙ Built 2004
    LEASED 03/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.99
    •  
  • 2317 Highland Crossing Drive Conroe, TX 5
    • 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
    •  
PROPERTY LISTING DETAILS
Andrew Brock
1.281.309.2747
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 67952666
Last Updated: 08/24/2020
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