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9041 Oval Glass Street Conroe, TX 77304

3 Beds 2 Baths 1,658 sqft Built 2020

INVESTimate

$222,900

List Price

$1,780

$1,602 - $1,958

Rent Est.

$233,778  ( +4.88%)   1 YR EST. FORECAST

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
Built 2020 NEW CONSTRUCTION
August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2020
  • Price/Sqft : $134.44
  • 6 Days on Market
  • MLS # : 41957843
  • Updated Date : 08/21/2020 at 13:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,658 sqft
  • Baths : 2 full
Listing Agent

Lgi Homes

Listing Agent's Description

The Sabine by LGI Homes. This upgraded 3-bedroom, 2-bath home features an open layout with a large, centrally positioned family room in addition to a flex room that can be used as a study or children’s retreat. The well-equipped kitchen features a breakfast island, granite countertops, and the bright and open dining room overlooking the covered back patio. Additionally, the Sabine boasts a spacious owner’s retreat showcasing a large garden bathtub, separate stand-up shower and huge walk-in closet.

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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
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
 

$200,610$245,190$222,900

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$822
Property Tax -$433
Property Insurance -$123
HOA -$33
Property Management Fees -$99
CASH FLOW
$269

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 12% of earned rent to cover both maintenance and periods of vacancy.

$222,900

PROJECTED PRICE

$1,780

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.88%
Maintenance Year (1-5) 3.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,069

INVESTMENT

$61,069

Down Payment
$55,725
Rehab Estimate
$2,000
Closing Costs
$3,344

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$822

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $55,725
Loan Amount $167,175
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$31,560

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $1.07

    LIST RENT PER SQFT
  • $1,774

    COMP ESTIMATED VALUE
  • $1.07

    COMP AVG. RENT PER SQFT
Comps Range
$1,600
1$1,6002$1,6503$1,6504$1,6755$1,780
$1,780
RENT COMPS ANALYSIS
  • 9041 Oval Glass Street Conroe, TX 5
    • 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2020 3 beds 2 baths ∙ 1,658 Sqft ∙ Built 2020
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $1.07
    •  
  • 9007 Nina Road Conroe, TX 1
    • 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2016 3 beds 2 baths ∙ 1,532 Sqft ∙ Built 2016
    property image
    LEASED 04/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $1.04
    •  
  • 9098 Nina Road Conroe, TX 2
    • 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,507 Sqft ∙ Built 2015
    property image
    LEASED 09/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.09
    •  
  • 7639 Daisy Port Lane Conroe, TX 3
    • 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,486 Sqft ∙ Built 2015
    property image
    LEASED 08/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.11
    •  
  • 9155 Nina Road Conroe, TX 4
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2017
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.04
    •  
PROPERTY LISTING DETAILS
Jack Lipar
1.281.362.8998
Lgi Homes
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 41957843
Last Updated: 08/21/2020
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