STR Lake Conroe, TX Good cash flow ?

[Art Webb]

Hello all. Looking for some advice from several investors or agents on STR demand at Lake Conroe, TX. Currently looking at a 3 BR/2BA waterfront condo listed at $300K. HOA $409. 1780 sf. No boat docks included. Recent May 22 comp for 3BR same building was $280K. I would be buying as part of a 1031 exchange and probably investing $100k to $150k as DP. Same building has a 2BR/2BA for $230K HOA $315. 1188 sf.

What's your thoughts on pricing and potential rental income for the above ? I'm leaving an OBX North Carolina area where we only due 7 night rentals from May thru Sept each year and stay 100% occupied one block from beach. I'm worried that Lake Conroe may only be 2-3 night weekend rentals and rental income may fall short of PITI. Thanks for your comments !