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903 Sandy Beach Drive Conroe, TX 77304

3 Beds 3 Baths 2,455 sqft Built 1998

$317,900

List Price

$2,150

$1.9K - $2.4K

Rent Est.

PROPERTY INFO

February 04, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1998
  • Price/Sqft : $129.49
  • 4 Days on Market
  • MLS # : 10919479
  • Updated Date : 02/05/2021 at 11:46
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,455 sqft
  • Baths : 2 full , 1 half
Listing Agent

Lake Conroe Realty

Listing Agent's Description

Spacious one story home on a huge lot. Located in the gated Lake Conroe community of Waterford Estates. The wide open floor plan offer a large family room with high ceilings, Saltillo tile flooring, gas log fireplace and lots of windows. Nearby is a formal dining room and a nice sized study with a desk and plenty of built in storage. The kitchen has a breakfast bar, island, granite counters and the fridge stays. The cooktop is electric but is plumbed for gas. The owners retreat is 17x15 and has a large bath with dual vanities, garden tub, separate shower and two large walk in closets. The two secondary bedrooms are on the opposite end of the home and have walk in closets and built-ins. Out back is a 24'x8' covered patio and a large fenced yard perfect for a future pool. A new roof was just installed in Jan. 2021, the home has been freshened up and is ready to go. A super nice place in a great neighborhood. Boat slips available. Come and live where you love to play.

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Waterford Estates North

NeighborhoodNIR Market*CityMarket2010Year20002019150k200k250k300k350k400k450k500k550k600kPrice in $107k613k

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

Neighborhood: Waterford Estates North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q210001200140016001800200022002400260028003000Rent in $8933177

* 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
Peet Junior High School Middle Regular 1,211 79 6
Conroe High School High Regular 3,480 215 4
Peet Junior High School Middle Unknown NA

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

Peet Junior High School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating
 

$286,110$349,690$317,900

PURCHASE PRICE

$1,935$2,365$2,150

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,150
EXPENSES Loan Payment -$1,104
Property Tax -$618
Property Insurance -$169
HOA -$83
Property Management Fees -$99
CASH FLOW
$77

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.

$317,900

PROJECTED PRICE

$2,150

PROJECTED RENT

0.68%

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

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$900k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$89,994

INVESTMENT

$89,994

Down Payment
$79,475
Rehab Estimate
$5,750
Closing Costs
$4,769

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,104

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $79,475
Loan Amount $238,425
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$8,655

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,150

    LIST RENT
  • $0.88

    LIST RENT PER SQFT
  • $1,841

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,795
1$1,7952$1,8503$2,1004$2,1505$2,150
$2,150
RENT COMPS ANALYSIS
  • 903 Sandy Beach Drive Conroe, TX 5
    • 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 1998 3 beds 3 baths ∙ 2,455 Sqft ∙ Built 1998
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.88
    •  
  • 219 Indian Falls Conroe, TX 1
    • 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,754 Sqft ∙ Built 1999
    LEASED 12/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,795
    • $0.65
    •  
  • 116 Clear Springs Drive Montgomery, TX 2
    • 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995 3 beds 3 baths ∙ 2,588 Sqft ∙ Built 1995
    LEASED 08/07/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.71
    •  
  • 123 Park Way Conroe, TX 3
    • 3 beds 2 baths ∙ 2,666 Sqft ∙ Built 1999 3 beds 2 baths ∙ 2,666 Sqft ∙ Built 1999
    LEASED 08/10/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.79
    •  
  • 106 April Waters Drive W Drive Conroe, TX 4
    • 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993 4 beds 3 baths ∙ 2,542 Sqft ∙ Built 1993
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.85
    •  
PROPERTY LISTING DETAILS
Jeff Deutschmann
1.936.828.1720
Lake Conroe Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 10919479
Last Updated: 02/05/2021
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