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3568 Falcon Way Conroe, TX 77304

4 Beds 4 Baths 2,832 sqft Built 2015

$324,900

List Price

$2,460

$2.2K - $2.7K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $114.72
  • 3 Days on Market
  • MLS # : 47411963
  • Updated Date : 01/01/2021 at 00:00
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,832 sqft
  • Baths : 3 full , 1 half
Listing Agent

One O.a.k. Real Estate

Listing Agent's Description

Welcome to 3568 Falcon Way, a 2015 Chesmar built home nestled in the beautiful community of Estates of Wedgewood Falls. High ceilings, large open kitchen with a island ready for family game night and more . The primary is located on the first floor and there are three bedrooms upstairs with two full baths and a nice size game room. Make your appointment to see this beautiful home.

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
 

$292,410$357,390$324,900

PURCHASE PRICE

$2,214$2,706$2,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,460
EXPENSES Loan Payment -$1,199
Property Tax -$631
Property Insurance -$191
HOA -$17
Property Management Fees -$99
CASH FLOW
$324

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.

$324,900

PROJECTED PRICE

$2,460

PROJECTED RENT

0.76%

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$0.0$5.0k$10k$15k$20k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$91,849

INVESTMENT

$91,849

Down Payment
$81,225
Rehab Estimate
$5,750
Closing Costs
$4,874

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,199

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $81,225
Loan Amount $243,675
See What Happens When You Reinvest Cash Flow

7.08

YEARS SAVED

$33,054

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,460

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $2,443

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$2,300
1$2,3002$2,4003$2,4504$2,4605$2,475
$2,475
RENT COMPS ANALYSIS
  • 3568 Falcon Way Conroe, TX 4
    • 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 2015 4 beds 4 baths ∙ 2,832 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,460
    • $0.87
    •  
  • 3580 Falcon Way Conroe, TX 1
    • 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 2415 Branshill Drive Conroe, TX 2
    • 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
    •  
  • 206 Pleasant Hill Way Conroe, TX 3
    • 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
    •  
  • 1619 Cafe Dumonde Conroe, TX 5
    • 5 beds 3 baths ∙ 3,155 Sqft ∙ Built 2002 5 beds 3 baths ∙ 3,155 Sqft ∙ Built 2002
    property image
    LEASED 09/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,475
    • $0.78
    •  
PROPERTY LISTING DETAILS
Gabrielle Allen
1.832.940.4070
One O.a.k. Real Estate
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 47411963
Last Updated: 01/01/2021
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