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766 Forest Lane Drive Conroe, TX 77302

4 Beds 3 Baths 2,634 sqft Built 1997

INVESTimate

$299,900

List Price

$2,220

$1,998 - $2,442

Rent Est.

$313,366  ( +4.49%)   1 YR EST. FORECAST

PROPERTY INFO

August 25, 2020 RECENTLY ADDED
FACTS
  • Built In 1997
  • Price/Sqft : $113.86
  • 2 Days on Market
  • MLS # : 30514727
  • Updated Date : 08/25/2020 at 11:58
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,634 sqft
  • Baths : 2 full , 1 half
Listing Agent

Executive Texas Realty

Listing Agent's Description

Stunning home with endless updates and a paradise like backyard featuring a sparkling pool and spa. This home greets you with a full brick fascia towering two stories nestled on a large corner lot. Notice the wall of windows at entry that allow for natural light to flow through this home. Gorgeous all tile flooring throughout the downstairs and plush carpet upstairs. Kitchen boasts granite, stainless steel appliances and gas oven with range top. The backyard of this home is where you'll spend the majority of your time whether you want to spend it under the shade of the pergola or in the water of your heated pool/spa. Schedule a tour with us today.

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: River Plantation

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: River Plantation

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
Bozman Intermediate School Primary Regular 746 45 6
Bozman Intermediate School Middle Regular 746 45 6
Conroe High School High Regular 3,480 215 4

Bozman Intermediate School

  • Education Level: Primary
  • # of students: 746
  • # of teachers: 45
6
GreatSchools Rating

Bozman Intermediate School

  • Education Level: Middle
  • # of students: 746
  • # of teachers: 45
6
GreatSchools Rating

Conroe High School

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

$269,910$329,890$299,900

PURCHASE PRICE

$1,998$2,442$2,220

RENT

DOWN PAYMENT
FINANCING

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k$900k

PROJECTED ANNUAL CASH FLOW

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,220
EXPENSES Loan Payment -$1,107
Property Tax -$638
Property Insurance -$179
HOA -$50
Property Management Fees -$99
CASH FLOW
$147

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.

$299,900

PROJECTED PRICE

$2,220

PROJECTED RENT

0.74%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.49%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$85,224

INVESTMENT

$85,224

Down Payment
$74,975
Rehab Estimate
$5,750
Closing Costs
$4,499

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 55% down payment or higher enables the proceeds from the asset to cover all costs.

$1,107

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $74,975
Loan Amount $224,925
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$15,125

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,220

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $1,857

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,7003$1,7954$2,0005$2,220
$2,220
RENT COMPS ANALYSIS
  • 766 Forest Lane Drive Conroe, TX 5
    • 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1997 4 beds 3 baths ∙ 2,634 Sqft ∙ Built 1997
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,220
    • $0.84
    •  
  • 3 Nevin Court Conroe, TX 1
    • 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,328 Sqft ∙ Built 2006
    property image
    LEASED 05/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.69
    •  
  • 710 Orleans Court Conroe, TX 2
    • 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1985 4 beds 3 baths ∙ 2,520 Sqft ∙ Built 1985
    property image
    LEASED 11/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.67
    •  
  • 2037 Borthwick Lane Conroe, TX 3
    • 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,626 Sqft ∙ Built 2008
    property image
    LEASED 04/29/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.68
    •  
  • 2047 Brodie Lane Conroe, TX 4
    • 5 beds 4 baths ∙ 2,573 Sqft ∙ Built 2012 5 beds 4 baths ∙ 2,573 Sqft ∙ Built 2012
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
PROPERTY LISTING DETAILS
Rami Alablli
Executive Texas Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 30514727
Last Updated: 08/25/2020
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