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38 Windswept Oaks Place Conroe, TX 77385

3 Beds 3 Baths 2,171 sqft Built 2001

$248,000

List Price

$1,720

$1.5K - $1.9K

Rent Est.

PROPERTY INFO

November 01, 2020 RECENTLY ADDED
FACTS
  • Built In 2001
  • Price/Sqft : $114.23
  • 3 Days on Market
  • MLS # : 39739767
  • Updated Date : 11/01/2020 at 09:12
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,171 sqft
  • Baths : 2 full , 1 half
Listing Agent

Walzel Properties

Listing Agent's Description

Continue on N Fwy Service Rd. Take Harpers Landing to Windswept Oaks Pl

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

Neighborhood: Harper's Landing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Harper's Landing

NeighborhoodNIR 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
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
10
GreatSchools Rating

Collins Intermediate School

  • Education Level: Middle
  • # of students: 674
  • # of teachers: 36
10
GreatSchools Rating

The Woodlands College Park High School

  • Education Level: High
  • # of students: 2,794
  • # of teachers: 161
9
GreatSchools Rating
 

$223,200$272,800$248,000

PURCHASE PRICE

$1,548$1,892$1,720

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,720
EXPENSES Loan Payment -$915
Property Tax -$516
Property Insurance -$152
Property Management Fees -$99
CASH FLOW
$38

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.

$248,000

PROJECTED PRICE

$1,720

PROJECTED RENT

0.69%

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
11530$0.0$100k$200k$300k$400k$500k$600k$700k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$71,470

INVESTMENT

$71,470

Down Payment
$62,000
Rehab Estimate
$5,750
Closing Costs
$3,720

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$915

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,000
Loan Amount $186,000
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,344

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,720

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $1,872

    COMP ESTIMATED VALUE
  • $0.86

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7203$1,8754$1,9005$1,950
$1,950
RENT COMPS ANALYSIS
  • 38 Windswept Oaks Place Conroe, TX 2
    • 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 2001 3 beds 3 baths ∙ 2,171 Sqft ∙ Built 2001
    • Rent
    • Rent Per SQFT
    •  
    • $1,720
    • $0.79
    •  
  • 190 W Misty Dawn Drive Conroe, TX 1
    • 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2002 4 beds 3 baths ∙ 2,100 Sqft ∙ Built 2002
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.81
    •  
  • 10 Terrell Trail Court Conroe, TX 3
    • 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2000 3 beds 2 baths ∙ 2,297 Sqft ∙ Built 2000
    LEASED 01/16/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,875
    • $0.82
    •  
  • 55 Shimmer Pond Place The Woodlands, TX 4
    • 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2001 4 beds 2 baths ∙ 2,014 Sqft ∙ Built 2001
    LEASED 09/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.94
    •  
  • 155 N Wimberly Way Conroe, TX 5
    • 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,212 Sqft ∙ Built 1999
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.88
    •  
PROPERTY LISTING DETAILS
Donald Peirce
1.832.728.8858
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 39739767
Last Updated: 11/01/2020
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