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2511 Angela Faye Way Conroe, TX 77304

3 Beds 2 Baths 2,195 sqft Built 2006

$250,000

List Price

$1,770

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

October 27, 2020 RECENTLY ADDED
FACTS
  • Built In 2006
  • Price/Sqft : $113.90
  • 8 Days on Market
  • MLS # : 69258893
  • Updated Date : 11/02/2020 at 18:19
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,195 sqft
  • Baths : 2 full
Listing Agent

Realty One Group, Experience

Listing Agent's Description

Beautifully maintained one story home tucked away in the quiet neighborhood of Canyon Creek. You’ll love the layout of this front porch series, Marco floor plan home built by David Weekley Homes. There is elegant crown moulding & archways in the entry & formal dining area. The open-concept home has Starion counter tops in the kitchen along with 42 inch cabinets & a breakfast bar. It has a study/office, which could be a 4th bedroom. The 2nd & 3rd bedrooms are connected by a game/flex room with a chalkboard wall, which would make the perfect classroom! The primary suite has dual sinks, a garden tub & a large walk-in closet. It is centrally located just minutes from 105/Lake Conroe & I-45 with easy access to The Woodlands. Don’t miss this one – at this price it won’t last long!!

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

Zip Code: 77304

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Zip Code: 77304

ZipNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8932063

* 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
Giesinger Elementary School Primary Regular 509 32 7
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Giesinger Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 32
7
GreatSchools Rating

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,593$1,947$1,770

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,770
EXPENSES Loan Payment -$922
Property Tax -$486
Property Insurance -$154
HOA -$21
Property Management Fees -$99
CASH FLOW
$88

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.

$250,000

PROJECTED PRICE

$1,770

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.9%
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$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

4.17

YEARS SAVED

$11,070

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,770

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,882

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7703$1,8504$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 2511 Angela Faye Way Conroe, TX 2
    • 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2006 3 beds 2 baths ∙ 2,195 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,770
    • $0.81
    •  
  • 1898 Longmire Conroe, TX 1
    • 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 2007 3 beds 3 baths ∙ 1,926 Sqft ∙ Built 2007
    LEASED 06/21/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.88
    •  
  • 2513 Angela Faye Way Conroe, TX 3
    • 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,149 Sqft ∙ Built 2005
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.86
    •  
  • 2538 Holly Laurel Manor Conroe, TX 4
    • 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 2019 4 beds 3 baths ∙ 2,371 Sqft ∙ Built 2019
    LEASED 04/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.84
    •  
  • 2607 Kimberly Dawn Drive Conroe, TX 5
    • 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2004
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
PROPERTY LISTING DETAILS
Angie Coumbe
1.936.648.9253
Realty One Group, Experience
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 69258893
Last Updated: 11/02/2020
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