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423 Brenda Lane Conroe, TX 77385

3 Beds 3 Baths 2,610 sqft Built 1982

$329,900

List Price

$2,060

$1.9K - $2.3K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1982
  • Price/Sqft : $126.40
  • 2 Days on Market
  • MLS # : 31371390
  • Updated Date : 03/27/2021 at 16:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,610 sqft
  • Baths : 2 full , 1 half
Listing Agent

Target Realty, Inc.

Listing Agent's Description

From the moment you walk in the door of this lovely home in highly sought after Oak Ridge North you will be impressed! This 2 story is TOTALLY renovated with luxury vinyl flooring, new carpet, new cabinetry in kitchen and baths. This home boasts open and spacious living and dining room. You love cooking in the new open gourmet kitchen with new soft close cabinets, gorgeous granite and views of the pool. A relaxing master retreat with a patio balcony. Updated primary bath double sinks, huge walk-in shower, & double closets. The generous backyard with a pool is perfect for entertaining! New roof 2021. Pack your bags this home is move in ready!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Oak Ridge North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Oak Ridge North

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
Oak Ridge Elementary School Primary Regular 563 33 6
Gerald D Irons Jr High School Middle Unknown 1,102 70 NA
Oak Ridge High School High Regular 3,637 202 8

Oak Ridge Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 33
6
GreatSchools Rating

Gerald D Irons Jr High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 70
NA
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$296,910$362,890$329,900

PURCHASE PRICE

$1,854$2,266$2,060

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,060
EXPENSES Loan Payment -$1,146
Property Tax -$641
Property Insurance -$178
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.

$329,900

PROJECTED PRICE

$2,060

PROJECTED RENT

0.62%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.1%
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$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$6.0k-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k

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$93,174

INVESTMENT

$93,174

Down Payment
$82,475
Rehab Estimate
$5,750
Closing Costs
$4,949

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,146

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $82,475
Loan Amount $247,425
See What Happens When You Reinvest Cash Flow

2.42

YEARS SAVED

$5,795

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,060

    LIST RENT
  • $0.79

    LIST RENT PER SQFT
  • $2,114

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,700
1$1,7002$1,7503$2,0004$2,0605$2,200
$2,200
RENT COMPS ANALYSIS
  • 423 Brenda Lane Conroe, TX 4
    • 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 1982 3 beds 3 baths ∙ 2,610 Sqft ∙ Built 1982
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,060
    • $0.79
    •  
  • 18 Rambling Wood Court The Woodlands, TX 1
    • 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1979 4 beds 3 baths ∙ 2,305 Sqft ∙ Built 1979
    property image
    LEASED 02/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.74
    •  
  • 14 Woodhaven Wood Drive The Woodlands, TX 2
    • 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 1980 4 beds 3 baths ∙ 2,376 Sqft ∙ Built 1980
    property image
    LEASED 10/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.74
    •  
  • 27101 S Harlan Lane Conroe, TX 3
    • 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1970 4 beds 3 baths ∙ 2,464 Sqft ∙ Built 1970
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.81
    •  
  • 27238 Lana Lane Conroe, TX 5
    • 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1968 4 beds 3 baths ∙ 2,321 Sqft ∙ Built 1968
    property image
    LEASED 09/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.95
    •  
PROPERTY LISTING DETAILS
Kathleen Montes
1.713.828.0766
Target Realty, Inc.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31371390
Last Updated: 03/27/2021
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