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238 Lake View Circle Conroe, TX 77356

3 Beds 3 Baths 2,392 sqft Built 1986

$274,900

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

FACTS
  • Single Family
  • Built In 1986
  • Price/Sqft : $114.92
  • 63 Days on Market
  • MLS # : 28741772
  • Updated Date : 12/11/2020 at 17:21
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,392 sqft
  • Baths : 2 full , 1 half
Listing Agent

Savvy Way Realty, Inc.

Listing Agent's Description

Gorgeous 2 story home located on a corner lot in the gated community of April Sound. NEW paint, flooring, appliances, countertops, cabinets, shower, and AC!!! Kitchen features tons of counter space, built-in microwave and oven, and an island with a cooktop. The master bedroom has a fireplace and the master bath holds a beautiful clawfoot tub and walk-in closet with built-in shelving! Interior laundry room and a 3 car garage - what more can you ask for? Want to live near the lake? The neighborhood backs up to Lake Conroe for quick access. Come check out your new home today!

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: April Sound

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $113k305k

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

Neighborhood: April Sound

NeighborhoodNIR Market*CityMarket2010Year20002019 Q211001200130014001500160017001800190020002100Rent in $10722163

* 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
Stewart Creek Elementary School Primary Regular 777 46 7
Oak Hills Junior High School Middle Regular NA
Lake Creek High School High Regular NA

Stewart Creek Elementary School

  • Education Level: Primary
  • # of students: 777
  • # of teachers: 46
7
GreatSchools Rating

Oak Hills Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Lake Creek High School

  • Education Level: High
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$247,410$302,390$274,900

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$1,014
Property Tax -$548
Property Insurance -$165
Property Management Fees -$99
CASH FLOW
$24

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.

$274,900

PROJECTED PRICE

$1,850

PROJECTED RENT

0.67%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.7%
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$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,599

INVESTMENT

$78,599

Down Payment
$68,725
Rehab Estimate
$5,750
Closing Costs
$4,124

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,014

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $68,725
Loan Amount $206,175
See What Happens When You Reinvest Cash Flow

2.83

YEARS SAVED

$7,451

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.77

    LIST RENT PER SQFT
  • $1,902

    COMP ESTIMATED VALUE
  • $0.8

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,8503$1,8754$1,9005$2,150
$2,150
RENT COMPS ANALYSIS
  • 238 Lake View Circle Conroe, TX 2
    • 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1986 3 beds 3 baths ∙ 2,392 Sqft ∙ Built 1986
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.77
    •  
  • 116 Clear Springs Drive Montgomery, TX 1
    • 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 113 Springs Edge Montgomery, TX 3
    • 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1975 4 beds 3 baths ∙ 2,365 Sqft ∙ Built 1975
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.79
    •  
  • 130 April Wind Ct Court Montgomery, TX 4
    • 3 beds 2 baths ∙ 2,281 Sqft ∙ Built 1970 3 beds 2 baths ∙ 2,281 Sqft ∙ Built 1970
    LEASED 09/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.83
    •  
  • 106 April Waters Drive W Drive Conroe, TX 5
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
PROPERTY LISTING DETAILS
Will Puente
1.281.608.6053
Savvy Way Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 28741772
Last Updated: 12/11/2020
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