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3529 Falcon Way Conroe, TX 77304

3 Beds 4 Baths 2,738 sqft Built 2018

$389,900

List Price

$2,360

$2.1K - $2.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2018
  • Price/Sqft : $142.40
  • 2 Days on Market
  • MLS # : 95214322
  • Updated Date : 07/12/2021 at 21:03
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,738 sqft
  • Baths : 3 full , 1 half
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Gorgeous one-story custom home located on a serene street, in the inviting neighborhood of the Estates of Wedgewood Falls. This 3BR/3.5BA home features an elegant circular foyer, wood-like tile flooring & a bright/open floor plan ideal for entertaining. Culinary kitchen has a grand island w/breakfast bar, gleaming granite, custom cabinetry & walk-in pantry. Open to spacious main living rm, has a stone-faced fireplace w/cedar mantle. Formal dining is nearby w/tall coffered ceilings. Escape to Master Retreat that looks out onto the backyard & includes his + her vanities, corner soaking tub + walk-in corner shower. Sizeable secondary bedrooms located on the other side of home for added privacy. Utility room adjacent to kitchen has room for freezer/second fridge. Extend entertainment onto the covered patio and enjoy views of the pool-sized, fully fenced backyard. LOCATION is fantastic for this home and neighborhood- short drive to grocery and I-45. CISD! Low taxes. Very low utility bills!

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MARKET HIGHLIGHTS

  • 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)
  • 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)

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
 

$350,910$428,890$389,900

PURCHASE PRICE

$2,124$2,596$2,360

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,360
EXPENSES Loan Payment -$1,354
Property Tax -$758
Property Insurance -$185
HOA -$17
Property Management Fees -$99
CASH FLOW
-$53

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.

$389,900

PROJECTED PRICE

$2,360

PROJECTED RENT

0.61%

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$200k$400k$600k$800k$1.0M

PROJECTED ANNUAL CASH FLOW

11530-$5.0k$0.0$5.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k$1.0M

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$109,074

INVESTMENT

$109,074

Down Payment
$97,475
Rehab Estimate
$5,750
Closing Costs
$5,849

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,354

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $97,475
Loan Amount $292,425
See What Happens When You Reinvest Cash Flow

2

YEARS SAVED

$5,037

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,360

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $2,382

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$2,100
1$2,1002$2,3603$2,4004$2,4005$2,450
$2,450
RENT COMPS ANALYSIS
  • 3529 Falcon Way Conroe, TX 2
    • 3 beds 4 baths ∙ 2,738 Sqft ∙ Built 2018 3 beds 4 baths ∙ 2,738 Sqft ∙ Built 2018
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,360
    • $0.86
    •  
  • 3 Hartwick Court Conroe, TX 1
    • 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2001 4 beds 3 baths ∙ 2,550 Sqft ∙ Built 2001
    property image
    LEASED 02/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.82
    •  
  • 2415 Branshill Drive Conroe, TX 3
    • 4 beds 4 baths ∙ 2,653 Sqft ∙ Built 2017 4 beds 4 baths ∙ 2,653 Sqft ∙ Built 2017
    property image
    LEASED 12/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.90
    •  
  • 1940 Harmon Drive Conroe, TX 4
    • 4 beds 3 baths ∙ 2,715 Sqft ∙ Built 2021 4 beds 3 baths ∙ 2,715 Sqft ∙ Built 2021
    property image
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,400
    • $0.88
    •  
  • 206 Pleasant Hill Way Conroe, TX 5
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
Sarah Conway
1.936.494.9999
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95214322
Last Updated: 07/12/2021
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