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PROPERTY INFO
FACTS
- Single Family
- Built In 1995
- Price/Sqft : $118.98
- 3 Days on Market
- MLS # : 88959334
- Updated Date : 12/19/2020 at 14:36
CONSTRUCTION
- Beds : 3
- Floor Size : 1,891 sqft
- Baths : 2 full
Listing Agent
M & M Texas Properties
Listing Agent's Description
Great single story brick home with large living and bedrooms, whirlpool bath and standup shower in the primary bathroom, gas log fireplace, formal dining. Recent updates include granite counter tops and undercabinet lighting in the kitchen, new tile and engineered wood flooring. Out back has a large covered wood deck and a fenced-in backyard. 2-car garage with yard sprinkler system controls and attic access.
SEE MORE
- 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
Neighborhood: Quail Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
Neighborhood: Quail Creek
* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR
SCHOOLS
FINANCIALS
PROJECTED BASIC MONTHLY INCOME STATEMENT
| INCOME | Rent | $1,570 |
| EXPENSES | Loan Payment | -$830 |
| Property Tax | -$447 | |
| Property Insurance | -$136 | |
| Property Management Fees | -$99 | |
|
CASH FLOW
$58
|
||
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.
$225,000
PROJECTED PRICE
$1,570
PROJECTED RENT
0.70%
PROJECTED RENT / PRICE RATIO
| Expense Inflation | 2.50% |
| Rental Growth Year (1-5) | 2.87% |
| Appreciation Year (1-5) | 3.8% |
| 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
PROJECTED PROPERTY VALUE
30 YEAR PROJECTION
- Appreciation
- Principal
- Loan Balance
TOTAL CASH OUT OF POCKET
INVESTMENT
$65,375
LOAN DETAILS
$830
MONTHLY LOAN PAYMENT
| Term | 30 Years |
| Interest | 4.25% |
| Down Payment | $56,250 |
| Loan Amount | $168,750 |
3.58
YEARS SAVED
$8,552
INTEREST SAVED
CASH FLOW REINVESTMENT
The time & interest saved by applying each month's positive cash flow towards loan principal pay down.
-
$1,570
LIST RENT -
$0.83
LIST RENT PER SQFT
-
$1,640
COMP ESTIMATED VALUE -
$0.87
COMP AVG. RENT PER SQFT
Comps Range
-
400 Rolling Hills Drive Conroe, TX 2
- 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1995 3 beds 2 baths ∙ 1,891 Sqft ∙ Built 1995
- Rent
- Rent Per SQFT
- $1,570
- $0.83
-
2306 Perkins Crossing Drive Conroe, TX 1
- 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,777 Sqft ∙ Built 2005
LEASED 03/18/20- Rent
- Rent Per SQFT
- $1,550
- $0.87
-
8028 N Tarrytown Crossing Drive Conroe, TX 3
- 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,925 Sqft ∙ Built 2006
LEASED 02/29/20- Rent
- Rent Per SQFT
- $1,600
- $0.83
-
96 Hiwon Drive Conroe, TX 4
- 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,067 Sqft ∙ Built 2005
LEASED 12/28/19- Rent
- Rent Per SQFT
- $1,695
- $0.82
-
320 Rolling Hills Drive Conroe, TX 5
- 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,844 Sqft ∙ Built 1977
LEASED 03/19/20- Rent
- Rent Per SQFT
- $1,750
- $0.95
PROPERTY LISTING DETAILS
1.281.381.0376
M & M Texas Properties
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
MLS #: 88959334
Last Updated: 12/19/2020
