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7 Muthill Circle Conroe, TX 77304

4 Beds 3 Baths 2,523 sqft Built 2016

$289,900

List Price

$2,250

$2K - $2.5K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2016
  • Price/Sqft : $114.90
  • 2 Days on Market
  • MLS # : 64682974
  • Updated Date : 11/02/2020 at 14:05
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,523 sqft
  • Baths : 3 full
Listing Agent

Walzel Properties

Listing Agent's Description

Virtual Tour available! BEAUTIFUL OPEN CONCEPT on Cul-De-Sac lot in Estates of Wedgewood Falls. Spacious master bedroom with lovely master bath and large walk-in closet; additional bedrooms' spacious closets, and living room has connections for surround sound system. Easy maintenance fenced yard has covered patio with natural gas hookup for grill. The exterior of the home flaunts brick on all sides, and has 3-car garage; Close to Lake Conroe and minutes from I-45 for quick access to Woodlands amenities!

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

Zip Code: 77304

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Zip Code: 77304

ZipNIR 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
Giesinger Elementary School Primary Regular 509 32 7
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4

Giesinger Elementary School

  • Education Level: Primary
  • # of students: 509
  • # of teachers: 32
7
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
 

$260,910$318,890$289,900

PURCHASE PRICE

$2,025$2,475$2,250

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,250
EXPENSES Loan Payment -$1,070
Property Tax -$563
Property Insurance -$173
HOA -$17
Property Management Fees -$99
CASH FLOW
$329

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.

$289,900

PROJECTED PRICE

$2,250

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.9%
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$1.0M

PROJECTED ANNUAL CASH FLOW

11530$0.0$5.0k$10k$15k$20k

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$82,574

INVESTMENT

$82,574

Down Payment
$72,475
Rehab Estimate
$5,750
Closing Costs
$4,349

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$1,070

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $72,475
Loan Amount $217,425
See What Happens When You Reinvest Cash Flow

7.58

YEARS SAVED

$33,524

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,250

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,233

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,2003$2,2504$2,3005$2,450
$2,450
RENT COMPS ANALYSIS
  • 7 Muthill Circle Conroe, TX 3
    • 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2016 4 beds 3 baths ∙ 2,523 Sqft ∙ Built 2016
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,250
    • $0.89
    •  
  • 2607 Kimberly Dawn Drive Conroe, TX 1
    • 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,353 Sqft ∙ Built 2004
    property image
    LEASED 07/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 1718 Wandering Hills Road Conroe, TX 2
    • 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2018 4 beds 3 baths ∙ 2,400 Sqft ∙ Built 2018
    property image
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,200
    • $0.92
    •  
  • 3580 Falcon Way Conroe, TX 4
    • 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015 3 beds 4 baths ∙ 2,594 Sqft ∙ Built 2015
    property image
    LEASED 09/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,300
    • $0.89
    •  
  • 206 Pleasant Hill Way Conroe, TX 5
    • 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018 4 beds 4 baths ∙ 2,784 Sqft ∙ Built 2018
    property image
    LEASED 09/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,450
    • $0.88
    •  
PROPERTY LISTING DETAILS
Joauna Tuck
1.832.510.9098
Walzel Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 64682974
Last Updated: 11/02/2020
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