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1006 E Main Street La Porte, TX 77571

3 Beds 2 Baths 1,415 sqft Built 2005

$214,900

List Price

$1,570

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2005
  • Price/Sqft : $151.87
  • 2 Days on Market
  • MLS # : 83257897
  • Updated Date : 02/06/2021 at 18:01
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,415 sqft
  • Baths : 2 full
Listing Agent

Barr And Assoc Real Estate Llc

Listing Agent's Description

Welcome home! Short distance to cute shops, restaurants and Five Points park! This custom built home features solid maple cabinetry throughout, granite countertops, neutral paint and split floor plan. Open concept kitchen to living area makes it perfect for entertaining. Master suite has his and her walk in closets and jetted tub with separate shower. Lots of counter space in the kitchen, travertine backsplash, built in wine rack and wineglass holder, and eat at bars on both sides of the kitchen. Refrigerator stays with the home. Living area is wired for speakers and has a maple built in entertainment center. Home has lots of storage space. 2 car garage still leaves plenty of space of a garage fridge and/or freezer.

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: Bay Front

NeighborhoodNIR Market*CityMarket2010Year2000201980k100k120k140k160k180k200k220kPrice in $68k222k

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

Neighborhood: Bay Front

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7631677

* 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
La Porte Elementary School Primary Regular 482 29 7
La Porte Junior High School Middle Regular 553 35 6
La Porte High School High Regular 2,119 134 5

La Porte Elementary School

  • Education Level: Primary
  • # of students: 482
  • # of teachers: 29
7
GreatSchools Rating

La Porte Junior High School

  • Education Level: Middle
  • # of students: 553
  • # of teachers: 35
6
GreatSchools Rating

La Porte High School

  • Education Level: High
  • # of students: 2,119
  • # of teachers: 134
5
GreatSchools Rating
 

$193,410$236,390$214,900

PURCHASE PRICE

$1,413$1,727$1,570

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,570
EXPENSES Loan Payment -$746
Property Tax -$520
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$82

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.

$214,900

PROJECTED PRICE

$1,570

PROJECTED RENT

0.73%

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

PROJECTED ANNUAL CASH FLOW

11530-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,699

INVESTMENT

$62,699

Down Payment
$53,725
Rehab Estimate
$5,750
Closing Costs
$3,224

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$746

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $53,725
Loan Amount $161,175
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$9,065

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,570

    LIST RENT
  • $1.11

    LIST RENT PER SQFT
  • $1,641

    COMP ESTIMATED VALUE
  • $1.16

    COMP AVG. RENT PER SQFT
Comps Range
$1,400
1$1,4002$1,4003$1,570
$1,570
RENT COMPS ANALYSIS
  • 1006 E Main Street La Porte, TX 3
    • 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2005 3 beds 2 baths ∙ 1,415 Sqft ∙ Built 2005
    • Rent
    • Rent Per SQFT
    •  
    • $1,570
    • $1.11
    •  
  • 518 N 4th Street La Porte, TX 1
    • 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 2013 3 beds 2 baths ∙ 1,222 Sqft ∙ Built 2013
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.15
    •  
  • 233 S Carroll Street La Porte, TX 2
    • 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1994 3 beds 2 baths ∙ 1,201 Sqft ∙ Built 1994
    LEASED 10/19/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,400
    • $1.17
    •  
PROPERTY LISTING DETAILS
Ava Resnick
1.713.397.5990
Barr And Assoc Real Estate Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 83257897
Last Updated: 02/06/2021
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