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38 Orchid Grove Place The Woodlands, TX 77385

3 Beds 2 Baths 1,614 sqft Built 2002

$239,900

List Price

$1,560

$1.4K - $1.7K

Rent Est.

$69,324

Investment Est.

AVAILABLE

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AVAILABLE

1 Year
(+4.1%)
1 YR. PROJ. APPRECIATION


Cap Rate	3.0%
Cash Flow	$48
Value Increase	$10,047

10 YEAR

Cash On Cash	-3.8%
Total Return	7.8%

PROPERTY INFO

FACTS

Single Family
Built In 2002
Price/Sqft : $148.64
52 Days on Market
MLS # : 3392431
Updated Date : 12/10/2020 at 09:48

CONSTRUCTION

Beds : 3
Floor Size : 1,614 sqft
Baths : 2 full

Listing Agent

Douglas Elliman Real Estate

Listing Agent's Description

Incredible opportunity to own this cute as a button home in Harpers Landing. Wonderful updates include granite counters, neutral paint, wood look flooring, travertine tile, and more. The yard just underwent a gorgeous makeover, too! A split floorplan offers privacy for the spacious secondary rooms and primary suite. An open flow makes it easy to entertain in the large den with cozy, corner fireplace and a wonderful, eat in kitchen w/breakfast bar. Plenty of room to run and play in the fully fenced backyard. Located on a cul-de-sac street, this won't last long!

38 Orchid Grove Pl

Conroe, Texas

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MARKET HIGHLIGHTS

Houston Market Report

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)

Neighborhood: Harper's Landing

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Neighborhood: Harper's Landing

* 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
Collins Intermediate School	Primary	Regular	674	36	10
Collins Intermediate School	Middle	Regular	674	36	10
The Woodlands College Park High School	High	Regular	2,794	161	9

Collins Intermediate School

Education Level: Primary
# of students: 674
# of teachers: 36

GreatSchools Rating

Collins Intermediate School

Education Level: Middle
# of students: 674
# of teachers: 36

GreatSchools Rating

The Woodlands College Park High School

Education Level: High
# of students: 2,794
# of teachers: 161

GreatSchools Rating

FINANCIALS

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$215,910$263,89000$239,900

PURCHASE PRICE

$1,404$1,71600$1,560

RENT

DOWN PAYMENT

FINANCING

OFF ON

Acquisition Concierge

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PROPERTY

Expense Inflation	%
Vacancy	%
Length of Stay
Expense Inflation	%
Vacancy	%
Length of Stay

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (1-5)

Appreciation	%
Rental Growth	%
Maintenance	%

YEAR (6+)

Appreciation	%
Rental Growth	%
Maintenance	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

INVESTMENT

Rehab Costs
Reinvest Cash Flow	Yes No
Interest Rate	%

Learn how to read this

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME	Rent	$1,560
EXPENSES	Loan Payment	-$833
	Property Tax	-$503
	Property Insurance	-$120
	Property Management Fees	-$99




CASH FLOW $4

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.

$239,900

PROJECTED PRICE

$1,560

PROJECTED RENT

0.65%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS
Expense Inflation	2.50%
Rental Growth Year (1-5)	2.87%
Appreciation Year (1-5)	4.1%
Maintenance Year (1-5)	8.00%
Vacancy	9.28%
Length of Stay Years	2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

Cash Flow
Appreciation
Principal

PROJECTED ANNUAL CASH FLOW

Tenant Turnover

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

Appreciation
Principal
Loan Balance

TOTAL CASH OUT OF POCKET

INVESTMENT

$69,324

Down Payment	$59,975
Rehab Estimate	$5,750
Closing Costs	$3,599

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$833

MONTHLY LOAN PAYMENT

30 yr

3.75%

25.00%

Down Payment

Term	30 Years
Interest	3.75%
Down Payment	$59,975
Loan Amount	$179,925

See What Happens When You Reinvest Cash Flow

2.5

YEARS SAVED

$4,374

INTEREST SAVED

CASH FLOW REINVESTMENT

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

$1,560
LIST RENT
$0.97
LIST RENT PER SQFT

$1,558
COMP ESTIMATED VALUE
$0.97
COMP AVG. RENT PER SQFT

Comps Range

$1,375

1$1,3752$1,5003$1,5004$1,5505$1,560

$1,560

RENT COMPS ANALYSIS

1,614
PROPERTY SQFT
$0.97
AVG RENT PER SQFT
$1,558
ESTIMATED VALUE
$1,560
LIST RENT

38 Orchid Grove Place The Woodlands, TX 4

3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002
Price

Price Per SQFT

$239,900

$148.64
46 Drifting Shadows Circle The Woodlands, TX 1

3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002
SOLD 11/27/19
Price

Price Per SQFT

$205,000

$127.01
87 Drifting Shadows Circle The Woodlands, TX 2

3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002
SOLD 09/21/20
Price

Price Per SQFT

$230,000

$142.50
58 Shimmer Pond Place Conroe, TX 3

3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,615 Sqft ∙ Built 2001
SOLD 11/19/20
Price

Price Per SQFT

$230,000

$142.41
34 Arcadia Way Conroe, TX 5

3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,704 Sqft ∙ Built 2003
SOLD 11/04/20
Price

Price Per SQFT

$260,000

$152.58

38 Orchid Grove Place The Woodlands, TX 5

3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002
Rent

Rent Per SQFT

$1,560

$0.97
19 Bark Bend Place The Woodlands, TX 1

3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,477 Sqft ∙ Built 2005
LEASED 11/23/19
Rent

Rent Per SQFT

$1,375

$0.93
234 W Misty Dawn Drive Conroe, TX 2

3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,494 Sqft ∙ Built 2004
LEASED 01/18/20
Rent

Rent Per SQFT

$1,500

$1.00
230 W Misty Dawn Drive The Woodlands, TX 3

3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2004 3 beds 2 baths ∙ 1,546 Sqft ∙ Built 2004
LEASED 02/27/20
Rent

Rent Per SQFT

$1,500

$0.97
46 Drifting Shadows Circle The Woodlands, TX 4

3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,614 Sqft ∙ Built 2002
LEASED 02/29/20
Rent

Rent Per SQFT

$1,550

$0.96

PROPERTY LISTING DETAILS

Renay Cohen
1.713.303.0531
Douglas Elliman Real Estate

Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027

Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 3392431
Last Updated: 12/10/2020

38 Orchid Grove Place The Woodlands, TX 77385

$239,900

$1,560

$69,324

REQUEST INFO

PROPERTY INFO

FACTS

CONSTRUCTION

Listing Agent

Listing Agent's Description

MARKET HIGHLIGHTS

PRICE & RENT TRENDS

SCHOOLS

Collins Intermediate School

Collins Intermediate School

The Woodlands College Park High School

FINANCIALS

$215,910$263,89000$239,900

$1,404$1,71600$1,560

Acquisition Concierge

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

$239,900

$1,560

0.65%

PROJECTED ACCUMULATED WEALTH

PROJECTED ANNUAL CASH FLOW

PROJECTED PROPERTY VALUE

TOTAL CASH OUT OF POCKET

INVESTMENT

LOAN DETAILS

25%

$833

2.5

$4,374

$239,900

$148.64

$227,776

$141.13

COMPS RANGE

PRICE COMPS ANALYSIS

$1,560

$0.97

$1,558

$0.97

Comps Range

RENT COMPS ANALYSIS

PROPERTY LISTING DETAILS