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2323 Hagerman Road Conroe, TX 77384

4 Beds 4 Baths 2,846 sqft Built 2019

$370,176

List Price

$2,500

$2.3K - $2.8K

Rent Est.

PROPERTY INFO

January 30, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2019
  • Price/Sqft : $130.07
  • 2 Days on Market
  • MLS # : 48112551
  • Updated Date : 01/30/2021 at 14:59
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,846 sqft
  • Baths : 3 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

This Low- Country inspired home built by Gracepoint Homes welcomes you with a spacious front porch. The kitchen with an oversized island, a large amount of stained cabinets, and beautiful light Silestone counter tops opens up into a bright dining area and family room creating a spacious yet cozy feel. The private master suite has a large en-suite bath and oversized walk in closet. Desireable second bedroom and full bath down, two bedrooms, bath and gameroom up complete ths home. Located in the New Chapel East section of Stillwater with easy access to I45 shopping, dining and entertainment in The Woodlands 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: The Woodlands

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300k320k340k360k380kPrice in $107k394k

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

Neighborhood: The Woodlands

NeighborhoodNIR Market*CityMarket2010Year20002019 Q2100012001400160018002000220024002600280030003200Rent in $8933366

* 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
Powell Elementary School Primary Regular 807 44 9
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Powell Elementary School

  • Education Level: Primary
  • # of students: 807
  • # of teachers: 44
9
GreatSchools Rating

Mccullough Junior High School

  • Education Level: Middle
  • # of students: 2,229
  • # of teachers: 120
10
GreatSchools Rating

The Woodlands High School Senior Campus

  • Education Level: High
  • # of students: 4,142
  • # of teachers: 228
9
GreatSchools Rating
 

$333,158$407,194$370,176

PURCHASE PRICE

$2,250$2,750$2,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,500
EXPENSES Loan Payment -$1,286
Property Tax -$719
Property Insurance -$191
HOA -$90
Property Management Fees -$99
CASH FLOW
$115

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.

$370,176

PROJECTED PRICE

$2,500

PROJECTED RENT

0.68%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.6%
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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k$15k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$103,847

INVESTMENT

$103,847

Down Payment
$92,544
Rehab Estimate
$5,750
Closing Costs
$5,553

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,286

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,544
Loan Amount $277,632
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$11,789

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,500

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $2,469

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,200
1$2,2002$2,3003$2,4004$2,4005$2,500
$2,500
RENT COMPS ANALYSIS
  • 2323 Hagerman Road Conroe, TX 5
    • 4 beds 4 baths ∙ 2,846 Sqft ∙ Built 2019 4 beds 4 baths ∙ 2,846 Sqft ∙ Built 2019
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.88
    •  
  • 159 N Wimberly Way Conroe, TX 1
    • 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,593 Sqft ∙ Built 1999
    LEASED 08/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.85
    •  
  • 2198 Rope Maker Road Conroe, TX 2
    • 3 beds 3 baths ∙ 2,727 Sqft ∙ Built 2016 3 beds 3 baths ∙ 2,727 Sqft ∙ Built 2016
    LEASED 03/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.84
    •  
  • 75 N Misty Canyon Place The Woodlands, TX 3
    • 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,650 Sqft ∙ Built 2001
    LEASED 09/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.91
    •  
  • 1510 Holly Chase Court Conroe, TX 4
    • 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,768 Sqft ∙ Built 2016
    LEASED 09/07/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.87
    •  
PROPERTY LISTING DETAILS
Jeffrey Morris
1.832.814.7604
Re/max The Woodlands & Spring
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 48112551
Last Updated: 01/30/2021
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