Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

6 W Flint Street Conroe, TX 77301

4 Beds 2 Baths 1,822 sqft Built 1981

$185,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 08, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1981
  • Price/Sqft : $101.54
  • 7 Days on Market
  • MLS # : 22075474
  • Updated Date : 02/10/2021 at 19:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,822 sqft
  • Baths : 2 full
Listing Agent

Patti Shannon Properties

Listing Agent's Description

Beautiful and recently updated 2 story home located in Tanglewood East neighborhood in Conroe. This cozy home is located on a quiet cul-de-sac with easy access to IH-45. This home will go fast and is close to everything you need from shopping, fine restaurants and The Woodlands Mall.

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: Tanglewood East

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $70k237k

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

Neighborhood: Tanglewood East

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7401677

* 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
Reaves Elementary School Primary Regular 685 43 5
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Reaves Elementary School

  • Education Level: Primary
  • # of students: 685
  • # of teachers: 43
5
GreatSchools Rating

Peet Junior High School

  • Education Level: Middle
  • # of students: 1,211
  • # of teachers: 79
6
GreatSchools Rating

Conroe High School

  • Education Level: High
  • # of students: 3,480
  • # of teachers: 215
4
GreatSchools Rating
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$643
Property Tax -$360
Property Insurance -$132
Property Management Fees -$99
CASH FLOW
$267

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.

$185,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

9.33

YEARS SAVED

$24,452

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,549

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,299
1$1,2992$1,3503$1,3754$1,5005$1,500
$1,500
RENT COMPS ANALYSIS
  • 6 W Flint Street Conroe, TX 5
    • 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,822 Sqft ∙ Built 1981
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.82
    •  
  • 502 Hildred Avenue Conroe, TX 1
    • 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1970 3 beds 2 baths ∙ 1,540 Sqft ∙ Built 1970
    LEASED 10/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,299
    • $0.84
    •  
  • 423 Northwood Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,502 Sqft ∙ Built 1976
    LEASED 01/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,350
    • $0.90
    •  
  • 211 Pine Crest Drive Conroe, TX 3
    • 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1970 4 beds 2 baths ∙ 1,576 Sqft ∙ Built 1970
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,375
    • $0.87
    •  
  • 2111 Timberlane Street Conroe, TX 4
    • 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,905 Sqft ∙ Built 1972
    LEASED 12/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.79
    •  
PROPERTY LISTING DETAILS
Christina Butz
1.512.203.9432
Patti Shannon Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 22075474
Last Updated: 02/10/2021
BESbswy