Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

301 Red Maple Lane Conroe, TX 77304

3 Beds 3 Baths 1,754 sqft Built 2020

$262,990

List Price

$1,690

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

Built 2020 NEW CONSTRUCTION
FACTS
  • Single Family
  • Built In 2020
  • Price/Sqft : $149.94
  • 65 Days on Market
  • MLS # : 47414859
  • Updated Date : 01/15/2021 at 15:07
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,754 sqft
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Professionals

Listing Agent's Description

SODDED REAR YARD INCLUDED! Beautiful New Colina Home. DECEMBER 2020 COMPLETION. VIEWS, VIEWS, VIEWS... Lakefront/Lakeview. 3 bedroom+study, 3-car garage, 1754 SF, 42" furniture finish cabinets, optional island, granite/stainless kitchen, tile backsplash, bath/tub tile shower surrounds, stainless gas 5-burner self cleaning range, vented microwave, & DW. LVP flooring throughout living, kitchen, baths, foyer, dining, & utility room. 9' foot ceilings. Formal dining/optional study. Luxurious Primary Suite with sitting area. Separate shower and oversized garden tub in primary bath. Covered rear porch, with lakeview, 3-sides Acme Brick, cement board rear. High energy efficiency. Amenities include tennis, stocked fishing pond for Residents only, playground, arbor w meandering brook, walking trails. Minutes from I-45 and Lake Conroe, shopping, restaurants,golf, & many other recreational activities. Photos are representative. Visit the office at 731 Wedgewood Park for information.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (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
 

$236,691$289,289$262,990

PURCHASE PRICE

$1,521$1,859$1,690

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,690
EXPENSES Loan Payment -$913
Property Tax -$511
Property Insurance -$128
HOA -$58
Property Management Fees -$99
CASH FLOW
-$20

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.

$262,990

PROJECTED PRICE

$1,690

PROJECTED RENT

0.64%

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) 3.00%
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

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$71,692

INVESTMENT

$71,692

Down Payment
$65,748
Rehab Estimate
$2,000
Closing Costs
$3,945

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$913

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $65,748
Loan Amount $197,243
See What Happens When You Reinvest Cash Flow

2.17

YEARS SAVED

$3,702

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,690

    LIST RENT
  • $0.96

    LIST RENT PER SQFT
  • $1,609

    COMP ESTIMATED VALUE
  • $0.92

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6503$1,6904$1,6955$1,775
$1,775
RENT COMPS ANALYSIS
  • 301 Red Maple Lane Conroe, TX 3
    • 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2020 3 beds 3 baths ∙ 1,754 Sqft ∙ Built 2020
    • Rent
    • Rent Per SQFT
    •  
    • $1,690
    • $0.96
    •  
  • 12079 La Salle Oaks Conroe, TX 1
    • 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,616 Sqft ∙ Built 2006
    LEASED 08/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.90
    •  
  • 12118 La Salle Oaks Conroe, TX 2
    • 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,747 Sqft ∙ Built 2002
    LEASED 09/06/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 9537 E Woodmark Conroe, TX 4
    • 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2013 4 beds 2 baths ∙ 1,818 Sqft ∙ Built 2013
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $0.93
    •  
  • 2115 Lost Timbers Drive Conroe, TX 5
    • 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,964 Sqft ∙ Built 2018
    LEASED 10/05/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,775
    • $0.90
    •  
PROPERTY LISTING DETAILS
Justin Dickey
1.832.736.8112
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47414859
Last Updated: 01/15/2021
BESbswy