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315 Red Maple Lane Conroe, TX 77304

4 Beds 3 Baths 1,982 sqft Built 2021

$287,465

List Price

$1,960

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

Built 2021 NEW CONSTRUCTION
February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2021
  • Price/Sqft : $145.04
  • 7 Days on Market
  • MLS # : 44332976
  • Updated Date : 02/10/2021 at 13:08
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,982 sqft
  • Baths : 3 full
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Beautiful New Colina Home. EST COMPLETION MAY 31 2021. 4 bedroom 3 bath, 3-car garage, 42" furniture finish cabinets/adjustable shelves, granite & stainless kitchen, Herringbone biscuit back splash, tile bath/tub shower surrounds, double sink, stainless gas five-burner self cleaning range, vented microwave, and dishwasher. Luxury vinyl plan flooring throughout living, kitchen, baths, foyer, study and utility room. Mahogany front door, 9' ceilings. Separate shower and oversized garden tub in primary bath. Covered rear porch. 3-sides Acme Brick, cement board rear. High energy efficiency. Amenities include tennis, stocked fishing pond for Residents only, playground, arbor with meandering brook, walking trails. Minutes from I45, Lake Conroe, shopping, restaurants, golf, and many other recreational activities. Visit the sales office at 731 Wedgewood Park for information. Photos are representative.

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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
 

$258,719$316,212$287,465

PURCHASE PRICE

$1,764$2,156$1,960

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,960
EXPENSES Loan Payment -$998
Property Tax -$559
Property Insurance -$142
HOA -$58
Property Management Fees -$99
CASH FLOW
$104

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.

$287,465

PROJECTED PRICE

$1,960

PROJECTED RENT

0.68%

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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$78,178

INVESTMENT

$78,178

Down Payment
$71,866
Rehab Estimate
$2,000
Closing Costs
$4,312

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$998

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,866
Loan Amount $215,599
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$10,382

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,960

    LIST RENT
  • $0.99

    LIST RENT PER SQFT
  • $1,873

    COMP ESTIMATED VALUE
  • $0.95

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,7754$1,9605$2,250
$2,250
RENT COMPS ANALYSIS
  • 315 Red Maple Lane Conroe, TX 4
    • 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 2021 4 beds 3 baths ∙ 1,982 Sqft ∙ Built 2021
    • Rent
    • Rent Per SQFT
    •  
    • $1,960
    • $0.99
    •  
  • 11502 W Woodmark Conroe, TX 1
    • 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,745 Sqft ∙ Built 2015
    LEASED 10/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.95
    •  
  • 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
    •  
  • 2115 Lost Timbers Drive Conroe, TX 3
    • 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
    •  
  • 273 Pleasant Hill Way Conroe, TX 5
    • 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2017 3 beds 2 baths ∙ 2,272 Sqft ∙ Built 2017
    LEASED 11/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.99
    •  
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 #: 44332976
Last Updated: 02/10/2021
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