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2362 Hagerman Road Conroe, TX 77384

4 Beds 5 Baths 2,846 sqft Built 2021

$370,790

List Price

$2,490

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $130.28
  • 4 Days on Market
  • MLS # : 30544971
  • Updated Date : 01/21/2021 at 15:13
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,846 sqft
  • Baths : 4 full , 1 half
Listing Agent

Re/max The Woodlands & Spring

Listing Agent's Description

This beautiful home features a four bedroom, two-story layout. Beyond the entry lies a bedroom, bathroom and large study. Going further into the home you will find the central family living space that includes a casual dining area, family room and kitchen with a large island and walk-in pantry. There is easy access from the family room to the covered back patio expanding the living space. The secluded master suite includes a master bath with double sinks, large walk-in shower, a soaking tub and an adjoining oversized walk-in closet. A game room and two additional bedrooms and two full baths can be found upstairs.

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: 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
Mitchell Intermediate School Primary Regular 1,208 63 10
Mccullough Junior High School Middle Regular 2,229 120 10
The Woodlands High School Senior Campus High Regular 4,142 228 9

Mitchell Intermediate School

  • Education Level: Primary
  • # of students: 1,208
  • # of teachers: 63
10
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
 

$333,711$407,869$370,790

PURCHASE PRICE

$2,241$2,739$2,490

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,490
EXPENSES Loan Payment -$1,288
Property Tax -$721
Property Insurance -$191
HOA -$90
Property Management Fees -$99
CASH FLOW
$102

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$370,790

PROJECTED PRICE

$2,490

PROJECTED RENT

0.67%

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) 3.00%
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

PROJECTED ANNUAL CASH FLOW

11530$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$100,259

INVESTMENT

$100,259

Down Payment
$92,698
Rehab Estimate
$2,000
Closing Costs
$5,562

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,288

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $92,698
Loan Amount $278,093
See What Happens When You Reinvest Cash Flow

3.42

YEARS SAVED

$10,980

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,490

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,433

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,490
$2,490
RENT COMPS ANALYSIS
  • 2362 Hagerman Road Conroe, TX 3
    • 4 beds 5 baths ∙ 2,846 Sqft ∙ Built 2021 4 beds 5 baths ∙ 2,846 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $2,490
    • $0.87
    •  
  • 2198 Rope Maker Road Conroe, TX 1
    • 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
    •  
  • 1510 Holly Chase Court Conroe, TX 2
    • 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 #: 30544971
Last Updated: 01/21/2021
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