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3547 Falcon Way Conroe, TX 77304

4 Beds 4 Baths 2,754 sqft Built 2015

$385,000

List Price

$2,480

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

November 14, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $139.80
  • 3 Days on Market
  • MLS # : 44996476
  • Updated Date : 11/14/2020 at 14:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,754 sqft
  • Baths : 3 full , 1 half
Listing Agent

Green & Associates Real Estate

Listing Agent's Description

Backs to a permanent GREENBELT with a pond and walking/biking trails! Great home located in the heart of Conroe and conveniently located to all roads, freeways, shopping and dining. This home, built by Chesmar, in 2015 offers a highly functional floor plan and many upgrades such as... three car garage, pre-wired for surround sound in the living and gameroom, speakers on the back porch, beautiful island kitchen with antiqued cabinets, granite in the kitchen and every bathroom, hardwood flooring, sprinkler system, fully fenced backyard, and much more! Low HOA, lower taxes and zoned to schools highly sought after schools in Conroe ISD! Call for a private showing 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

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
 

$346,500$423,500$385,000

PURCHASE PRICE

$2,232$2,728$2,480

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,480
EXPENSES Loan Payment -$1,420
Property Tax -$748
Property Insurance -$186
HOA -$25
Property Management Fees -$99
CASH FLOW
$1

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.

$385,000

PROJECTED PRICE

$2,480

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) 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$15k

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$107,775

INVESTMENT

$107,775

Down Payment
$96,250
Rehab Estimate
$5,750
Closing Costs
$5,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,420

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $96,250
Loan Amount $288,750
See What Happens When You Reinvest Cash Flow

2.58

YEARS SAVED

$9,059

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,480

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $2,437

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4503$2,4804$2,5005$2,550
$2,550
RENT COMPS ANALYSIS
  • 3547 Falcon Way Conroe, TX 3
    • 4 beds 4 baths ∙ 2,754 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,754 Sqft ∙ Built 2015
    • Rent
    • Rent Per SQFT
    •  
    • $2,480
    • $0.90
    •  
  • 3580 Falcon Way Conroe, TX 1
    • 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 206 Pleasant Hill Way Conroe, TX 2
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
  • 12277 Emerald Mist Lane Conroe, TX 4
    • 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,800 Sqft ∙ Built 2018
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,500
    • $0.89
    •  
  • 1538 Cafe Dumonde Conroe, TX 5
    • 3 beds 3 baths ∙ 2,897 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,897 Sqft ∙ Built 2004
    LEASED 06/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,550
    • $0.88
    •  
PROPERTY LISTING DETAILS
Kami Cudd
1.832.851.8800
Green & Associates Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 44996476
Last Updated: 11/14/2020
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