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9945 Cassowary Drive Conroe, TX 77385

4 Beds 2 Baths 2,855 sqft Built 2012

$265,000

List Price

$2,000

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $92.82
  • 3 Days on Market
  • MLS # : 63865572
  • Updated Date : 02/27/2021 at 13:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,855 sqft
  • Baths : 2 full
Listing Agent

Re/max Distinction

Listing Agent's Description

Amazing 1.5 story home in the very popular Montgomery Creek Ranch subdivision zoned to the exemplary Conroe ISD! This 4-bedroom home features a huge family room with beautiful corner gaslog fireplace and built-in desk area, wonderful kitchen with breakfast bar and breakfast room, large formal dining room with large window letting in lots of natural light, oversized primary suite with sitting area, double vanity primary bath with shower and separate tub and large walk-in closet! Secondary bedrooms are all very spacious, all have large walk-in closets and are all on the first floor. Huge gameroom and storage closet upstairs. Ideal covered back patio perfect for entertaining! This home also features PEX piping so none of the pipes burst during our recent snowstorm!

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: Montgomery Creek Ranch

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $107k305k

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

Neighborhood: Montgomery Creek Ranch

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
Houser Elementary School Primary Regular 848 49 5
Gerald D Irons Jr High School Middle Unknown 1,102 70 NA
Oak Ridge High School High Regular 3,637 202 8

Houser Elementary School

  • Education Level: Primary
  • # of students: 848
  • # of teachers: 49
5
GreatSchools Rating

Gerald D Irons Jr High School

  • Education Level: Middle
  • # of students: 1,102
  • # of teachers: 70
NA
GreatSchools Rating

Oak Ridge High School

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

$238,500$291,500$265,000

PURCHASE PRICE

$1,800$2,200$2,000

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,000
EXPENSES Loan Payment -$920
Property Tax -$637
Property Insurance -$192
HOA -$25
Property Management Fees -$99
CASH FLOW
$127

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.

$265,000

PROJECTED PRICE

$2,000

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.6%
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$700k$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$75,975

INVESTMENT

$75,975

Down Payment
$66,250
Rehab Estimate
$5,750
Closing Costs
$3,975

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$920

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $66,250
Loan Amount $198,750
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$9,419

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,000

    LIST RENT
  • $0.7

    LIST RENT PER SQFT
  • $2,020

    COMP ESTIMATED VALUE
  • $0.71

    COMP AVG. RENT PER SQFT
Comps Range
$1,785
1$1,7852$1,8503$1,9954$2,0005$2,100
$2,100
RENT COMPS ANALYSIS
  • 9945 Cassowary Drive Conroe, TX 4
    • 4 beds 2 baths ∙ 2,855 Sqft ∙ Built 2012 4 beds 2 baths ∙ 2,855 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.70
    •  
  • 9931 Knob Hollow Way Conroe, TX 1
    • 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2013 4 beds 3 baths ∙ 2,689 Sqft ∙ Built 2013
    LEASED 11/13/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,785
    • $0.66
    •  
  • 2144 Pacific Loon Lane Conroe, TX 2
    • 3 beds 3 baths ∙ 2,768 Sqft ∙ Built 2018 3 beds 3 baths ∙ 2,768 Sqft ∙ Built 2018
    LEASED 02/22/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.67
    •  
  • 16929 Scenic Knoll Conroe, TX 3
    • 5 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006 5 beds 3 baths ∙ 2,675 Sqft ∙ Built 2006
    LEASED 02/03/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,995
    • $0.75
    •  
  • 274 Fairwind Trail Drive Conroe, TX 5
    • 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2003 4 beds 3 baths ∙ 2,787 Sqft ∙ Built 2003
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.75
    •  
PROPERTY LISTING DETAILS
Michelle Cannon
1.832.818.6621
Re/max Distinction
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 63865572
Last Updated: 02/27/2021
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