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10511 Torrey Pines Drive Panorama Village, TX 77318

3 Beds 2 Baths 1,576 sqft Built 2002

$214,900

List Price

$1,530

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 19, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2002
  • Price/Sqft : $136.36
  • 4 Days on Market
  • MLS # : 57871053
  • Updated Date : 03/20/2021 at 20:43
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,576 sqft
  • Baths : 2 full
Listing Agent

Century 21 Olympian Galleria

Listing Agent's Description

Recently updated 3 Bedroom / 2 Bathroom home in Panorama Village!! The property features updated granite, new EE, and plumbing fixtures. Foundation has a structural engineer report and is performing. Quick commute to I-45! Easy to show, cleaned weekly, and schedule today! Please review agent remarks..

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: Parkside of Panorama

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260k280k300kPrice in $97k305k

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

Neighborhood: Parkside of Panorama

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8172063

* 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
W. Lloyd Meador Elementary School Primary Regular 771 43 7
Robert P. Brabham Middle School Middle Regular 791 43 5
Willis High School High Regular 1,944 117 4

W. Lloyd Meador Elementary School

  • Education Level: Primary
  • # of students: 771
  • # of teachers: 43
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
 

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

PURCHASE PRICE

$1,377$1,683$1,530

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,530
EXPENSES Loan Payment -$746
Property Tax -$501
Property Insurance -$118
Property Management Fees -$99
CASH FLOW
$65

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.

$214,900

PROJECTED PRICE

$1,530

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 3.3%
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-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

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$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 60% 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

3.42

YEARS SAVED

$6,292

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,530

    LIST RENT
  • $0.97

    LIST RENT PER SQFT
  • $1,639

    COMP ESTIMATED VALUE
  • $1.04

    COMP AVG. RENT PER SQFT
Comps Range
$1,530
1$1,5302$1,6753$1,6954$1,7455$1,745
$1,745
RENT COMPS ANALYSIS
  • 10511 Torrey Pines Drive Panorama Village, TX 1
    • 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2002 3 beds 2 baths ∙ 1,576 Sqft ∙ Built 2002
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,530
    • $0.97
    •  
  • 9155 Nina Road Conroe, TX 2
    • 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,604 Sqft ∙ Built 2017
    property image
    LEASED 05/26/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,675
    • $1.04
    •  
  • 7718 Boulder Sunstone Lane Conroe, TX 3
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2019
    property image
    LEASED 09/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,695
    • $1.02
    •  
  • 7642 Glaber Leaf Road Conroe, TX 4
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2019
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.05
    •  
  • 7715 Boulder Sunstone Lane Conroe, TX 5
    • 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2019 4 beds 2 baths ∙ 1,658 Sqft ∙ Built 2019
    property image
    LEASED 03/09/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,745
    • $1.05
    •  
PROPERTY LISTING DETAILS
Brandon Smith
1.281.536.6399
Century 21 Olympian Galleria
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 57871053
Last Updated: 03/20/2021
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