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5808 Olde Oaks Drive Conroe, TX 77378

3 Beds 2 Baths 1,654 sqft Built 2015

$197,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2015
  • Price/Sqft : $119.11
  • 3 Days on Market
  • MLS # : 83623914
  • Updated Date : 12/05/2020 at 16:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,654 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Professionals

Listing Agent's Description

Beautiful One Story Traditional Home with Open Floor Plan and Kitchen upgrades including Granite Countertops, SS appliances- Gas Range, Built-in Micro Wave, Dishwasher (in 2020). Pendent Lights complete the Granite Counters overlooking the Family Room. High Ceilings and Wood Laminate Floors throughout Kitchen, Family Room, Dining Room, and Foyer. In-Home Office Area Nook Conveniently Located off Kitchen for those Who Work from Home. Primary and Secondary Bathrooms upgraded with Granite Countertops and Primary bath includes Separate Tub and Shower with Dual Sinks. Ceiling Fans are installed in Primary and all Secondary Bedrooms including the Family Room. 2" Blinds installed Throughout the Home. This Property with no Back Neighbors and All the Upgrades is a Must See! New carpet in Primary Bedroom being installed on 12/8. Pictures will be up soon.

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: Olde Oaks North

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Olde Oaks North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7241677

* 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
A.r. Turner Elementary School Primary Regular 574 32 7
Robert P. Brabham Middle School Middle Regular 791 43 5
Willis High School High Regular 1,944 117 4

A.r. Turner Elementary School

  • Education Level: Primary
  • # of students: 574
  • # of teachers: 32
7
GreatSchools Rating

Robert P. Brabham Middle School

  • Education Level: Middle
  • # of students: 791
  • # of teachers: 43
5
GreatSchools Rating

Willis High School

  • Education Level: High
  • # of students: 1,944
  • # of teachers: 117
4
GreatSchools Rating
 

$177,300$216,700$197,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$727
Property Tax -$383
Property Insurance -$123
HOA -$27
Property Management Fees -$99
CASH FLOW
$92

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$197,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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-$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$57,955

INVESTMENT

$57,955

Down Payment
$49,250
Rehab Estimate
$5,750
Closing Costs
$2,955

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$727

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,250
Loan Amount $147,750
See What Happens When You Reinvest Cash Flow

5.25

YEARS SAVED

$12,516

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,509

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,295
1$1,2952$1,3493$1,4254$1,4505$1,525
$1,525
RENT COMPS ANALYSIS
  • 5808 Olde Oaks Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,654 Sqft ∙ Built 2015
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.88
    •  
  • 9 Summer View Court Conroe, TX 1
    • 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2009 3 beds 2 baths ∙ 1,476 Sqft ∙ Built 2009
    property image
    LEASED 02/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,295
    • $0.88
    •  
  • 5017 Willow Point Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2007 3 beds 2 baths ∙ 1,512 Sqft ∙ Built 2007
    property image
    LEASED 11/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,349
    • $0.89
    •  
  • 942 Oak Lynn Drive Conroe, TX 3
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2014 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2014
    property image
    LEASED 09/03/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.95
    •  
  • 947 Oak Falls Drive Conroe, TX 5
    • 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,633 Sqft ∙ Built 2016
    property image
    LEASED 08/26/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.93
    •  
PROPERTY LISTING DETAILS
Cyndi Madere
1.281.785.1251
Keller Williams Professionals
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83623914
Last Updated: 12/05/2020
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