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64 El Dorado Street Conroe, TX 77304

4 Beds 3 Baths 2,218 sqft Built 1983

$287,500

List Price

$1,850

$1.7K - $2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
July 12, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $129.62
  • 4 Days on Market
  • MLS # : 72127299
  • Updated Date : 07/12/2021 at 11:35
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,218 sqft
  • Baths : 2 full , 1 half
Listing Agent

Zarco Properties, Llc

Listing Agent's Description

Beautiful and well maintained 4 bed 2.5 bath home on a huge corner lot in the Golf Course community of Panorama Village. No flooding, No broken pipes, No HOA fees, No MUD taxes. This community has so much to offer, their own golf course, community pool, parks, police force, and town hall! Fantastic location being only 10 minutes from Lake Conroe, 20 Minutes to the Woodlands and just minutes to 45. The property includes a second lot that is cleared and fence as the backyard making the total size of the property .38 ac and one of the largest properties in the neighborhood. Also included are 2 parking areas 1 one each side of the house with an additional space behind the gate for your toys! The AC & Furnace were replaced in 2014, roof 2016, water heater 2018, double pane windows throughout the home and so much more. Schedule your private tour today.

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: Panorama Village

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Panorama Village

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
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
 

$258,750$316,250$287,500

PURCHASE PRICE

$1,665$2,035$1,850

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,850
EXPENSES Loan Payment -$999
Property Tax -$559
Property Insurance -$155
Property Management Fees -$99
CASH FLOW
$39

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.

$287,500

PROJECTED PRICE

$1,850

PROJECTED RENT

0.64%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.7%
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$800k

PROJECTED ANNUAL CASH FLOW

11530-$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$100k$200k$300k$400k$500k$600k$700k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,938

INVESTMENT

$81,938

Down Payment
$71,875
Rehab Estimate
$5,750
Closing Costs
$4,313

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$999

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $71,875
Loan Amount $215,625
See What Happens When You Reinvest Cash Flow

3.08

YEARS SAVED

$7,018

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,850

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,808

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,525
1$1,5252$1,5953$1,6004$1,7855$1,850
$1,850
RENT COMPS ANALYSIS
  • 64 El Dorado Street Conroe, TX 5
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1983 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1983
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.83
    •  
  • 248 Point Clear Drive Conroe, TX 1
    • 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1974 3 beds 2 baths ∙ 1,896 Sqft ∙ Built 1974
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $0.80
    •  
  • 2225 Highland Hills Drive Conroe, TX 2
    • 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,977 Sqft ∙ Built 2002
    LEASED 01/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.81
    •  
  • 331 Rolling Hills Drive Conroe, TX 3
    • 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1976 4 beds 2 baths ∙ 2,012 Sqft ∙ Built 1976
    LEASED 02/01/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.80
    •  
  • 109 Hiwon Drive Conroe, TX 4
    • 3 beds 2 baths ∙ 2,089 Sqft ∙ Built 1983 3 beds 2 baths ∙ 2,089 Sqft ∙ Built 1983
    LEASED 03/11/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.85
    •  
PROPERTY LISTING DETAILS
Sheri Hodges
1.936.681.0111
Zarco Properties, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 72127299
Last Updated: 07/12/2021
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