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954 Oak Terrace Drive Conroe, TX 77378

3 Beds 3 Baths 1,936 sqft Built 2011

$219,400

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2011
  • Price/Sqft : $113.33
  • 2 Days on Market
  • MLS # : 16401005
  • Updated Date : 02/06/2021 at 12:22
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,936 sqft
  • Baths : 2 full , 1 half
Listing Agent

Century 21 Realty Partners

Listing Agent's Description

Welcome home to 954 Oak Terrace Drive! This beautifully well maintained home has 3 bedrooms and 2.5 bathrooms. Once inside you'll find a bright and airy interior with tall ceilings and a dramatic staircase leading to the second floor. The large family room, formal dining room, and kitchen are perfect for all of your family gatherings. The kitchen features an eat-in area for a dining table, an oversized island for counter stools, and a separate built in desk/storage area. All bedrooms are upstairs, including the spacious primary room which also has vaulted ceilings and an en suite bathroom with dual sinks, vanity space, and separate tub and shower. The backyard is fully fenced, no rear neighbors, and with a patio area ready to entertain those BBQ's. The roof is 4 years old. Great location with quick access to 45 and shopping! This home is not one to be missed. Schedule your showing today!

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: Olde Oaks North

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $74k222k

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

Neighborhood: Olde Oaks North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7241677

* 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
 

$197,460$241,340$219,400

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$762
Property Tax -$426
Property Insurance -$139
HOA -$27
Property Management Fees -$99
CASH FLOW
$227

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$219,400

PROJECTED PRICE

$1,680

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 7.3%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,891

INVESTMENT

$63,891

Down Payment
$54,850
Rehab Estimate
$5,750
Closing Costs
$3,291

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 45% down payment or higher enables the proceeds from the asset to cover all costs.

$762

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,850
Loan Amount $164,550
See What Happens When You Reinvest Cash Flow

7.67

YEARS SAVED

$21,756

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,689

    COMP ESTIMATED VALUE
  • $0.87

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,6503$1,6504$1,6805$1,705
$1,705
RENT COMPS ANALYSIS
  • 954 Oak Terrace Drive Conroe, TX 4
    • 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2011 3 beds 3 baths ∙ 1,936 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $0.87
    •  
  • 975 Oak Falls Drive Conroe, TX 1
    • 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 2006 4 beds 3 baths ∙ 1,985 Sqft ∙ Built 2006
    LEASED 08/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.83
    •  
  • 963 Oak Lynn Drive Conroe, TX 2
    • 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2006 3 beds 3 baths ∙ 1,820 Sqft ∙ Built 2006
    LEASED 01/15/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.91
    •  
  • 995 Oak Falls Drive Conroe, TX 3
    • 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2004 3 beds 3 baths ∙ 2,016 Sqft ∙ Built 2004
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.82
    •  
  • 947 Oak Lynn Drive Willis, TX 5
    • 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2015 3 beds 2 baths ∙ 1,836 Sqft ∙ Built 2015
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,705
    • $0.93
    •  
PROPERTY LISTING DETAILS
Patricia Matthews
1.936.662.2623
Century 21 Realty Partners
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 16401005
Last Updated: 02/06/2021
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