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9819 Toucan Lane Conroe, TX 77385

4 Beds 2 Baths 1,434 sqft Built 1983

$170,000

List Price

$1,500

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

80% chance this property will be sold within the next 20 days HOT INVESTMENT
January 07, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $118.55
  • 5 Days on Market
  • MLS # : 17096934
  • Updated Date : 01/06/2021 at 19:41
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,434 sqft
  • Baths : 2 full
Listing Agent

Abby Realty

Listing Agent's Description

Welcome home! Excellent little home located right off Hwy 242 on a cul-de-sac street close to dining, shopping and major hospitals. This home offers 4 bedroom 2 full baths, with a covered back patio. The home comes with refrigerator, washer and dryer. The highlight of the home is the huge backyard ready for family enjoyment. The roof was replaced in 2019. No flooding!

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • Houston metro contributes to 29.5% of Texas state economy i.e. Gross State Product (USMayors.org, 2018)

PRICE & RENT TRENDS

Neighborhood: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $86k305k

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

Neighborhood: Gleneagles

NeighborhoodNIR Market*CityMarket2010Year20002019 Q280090010001100120013001400150016001700180019002000Rent in $7712063

* 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
Oak Ridge Elementary School Primary Regular 563 33 6
Vogel Intermediate School Middle Regular 1,072 61 6
Oak Ridge High School High Regular 3,637 202 8

Oak Ridge Elementary School

  • Education Level: Primary
  • # of students: 563
  • # of teachers: 33
6
GreatSchools Rating

Vogel Intermediate School

  • Education Level: Middle
  • # of students: 1,072
  • # of teachers: 61
6
GreatSchools Rating

Oak Ridge High School

  • Education Level: High
  • # of students: 3,637
  • # of teachers: 202
8
GreatSchools Rating
 

$153,000$187,000$170,000

PURCHASE PRICE

$1,350$1,650$1,500

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,500
EXPENSES Loan Payment -$590
Property Tax -$409
Property Insurance -$110
HOA -$46
Property Management Fees -$99
CASH FLOW
$246

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.

$170,000

PROJECTED PRICE

$1,500

PROJECTED RENT

0.88%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 6.3%
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$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,800

INVESTMENT

$50,800

Down Payment
$42,500
Rehab Estimate
$5,750
Closing Costs
$2,550

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$590

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $42,500
Loan Amount $127,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$18,875

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,500

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,552

    COMP ESTIMATED VALUE
  • $1.08

    COMP AVG. RENT PER SQFT
Comps Range
$1,475
1$1,4752$1,5003$1,5254$1,5505$1,700
$1,700
RENT COMPS ANALYSIS
  • 9819 Toucan Lane Conroe, TX 2
    • 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.05
    •  
  • 16986 Hummingbird Conroe, TX 1
    • 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1980 3 beds 2 baths ∙ 1,284 Sqft ∙ Built 1980
    property image
    LEASED 11/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,475
    • $1.15
    •  
  • 9819 Kiwi Lane Conroe, TX 3
    • 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1981 4 beds 2 baths ∙ 1,434 Sqft ∙ Built 1981
    property image
    LEASED 12/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,525
    • $1.06
    •  
  • 9810 Thrush Lane Conroe, TX 4
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 2002
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 190 Fairwind Trail Drive The Woodlands, TX 5
    • 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 2003 3 beds 2 baths ∙ 1,616 Sqft ∙ Built 2003
    property image
    LEASED 09/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $1.05
    •  
PROPERTY LISTING DETAILS
Rachelle Williams
1.832.509.8873
Abby Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 17096934
Last Updated: 01/06/2021
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