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10521 Spencer Landing La Porte, TX 77571

4 Beds 3 Baths 2,600 sqft Built 2000

$289,000

List Price

$2,170

$2K - $2.4K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 17, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2000
  • Price/Sqft : $111.15
  • 6 Days on Market
  • MLS # : 95855945
  • Updated Date : 03/20/2021 at 18:25
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,600 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max 5 Star Realty

Listing Agent's Description

Home Sweet Home! Wide open floor plan with so many options. Great space for entertaining family and friends. Dining opens to entry and living room and takes you into the large kitchen with island and big breakfast room with built in desk and storage. Laundry and half bath off the kitchen. Great game room upstairs for the kids and their friends. Master bedroom on first floor with three additional bedrooms on second floor. Covered patio to enjoy your time outside while grilling and chilling. Easy access to 146, Hwy 225 and Beltway. On the spots you need within minutes away. Make your appointment today.

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: La Porte

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $86k222k

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

Neighborhood: La Porte

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9251677

* 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
Lomax Elementary School Primary Regular 541 29 9
Lomax Junior High School Middle Regular 626 37 7
La Porte High School High Regular 2,119 134 5

Lomax Elementary School

  • Education Level: Primary
  • # of students: 541
  • # of teachers: 29
9
GreatSchools Rating

Lomax Junior High School

  • Education Level: Middle
  • # of students: 626
  • # of teachers: 37
7
GreatSchools Rating

La Porte High School

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

$260,100$317,900$289,000

PURCHASE PRICE

$1,953$2,387$2,170

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,170
EXPENSES Loan Payment -$1,004
Property Tax -$700
Property Insurance -$203
HOA -$19
Property Management Fees -$99
CASH FLOW
$146

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.

$289,000

PROJECTED PRICE

$2,170

PROJECTED RENT

0.75%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.4%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$200k$400k$600k$800k

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$200k$400k$600k$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$82,335

INVESTMENT

$82,335

Down Payment
$72,250
Rehab Estimate
$5,750
Closing Costs
$4,335

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$1,004

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $72,250
Loan Amount $216,750
See What Happens When You Reinvest Cash Flow

4.42

YEARS SAVED

$12,033

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,170

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $2,210

    COMP ESTIMATED VALUE
  • $0.85

    COMP AVG. RENT PER SQFT
Comps Range
$1,900
1$1,9002$1,9503$2,1704$2,350
$2,350
RENT COMPS ANALYSIS
  • 10521 Spencer Landing La Porte, TX 3
    • 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2000 4 beds 3 baths ∙ 2,600 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $2,170
    • $0.83
    •  
  • 306 King William Drive La Porte, TX 1
    • 3 beds 2 baths ∙ 2,304 Sqft ∙ Built 2005 3 beds 2 baths ∙ 2,304 Sqft ∙ Built 2005
    LEASED 07/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.82
    •  
  • 5217 Valley Brook Court La Porte, TX 2
    • 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1994 4 beds 3 baths ∙ 2,392 Sqft ∙ Built 1994
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.82
    •  
  • 11013 Birch Drive La Porte, TX 4
    • 4 beds 4 baths ∙ 2,576 Sqft ∙ Built 2000 4 beds 4 baths ∙ 2,576 Sqft ∙ Built 2000
    LEASED 03/12/21
    • Rent
    • Rent Per SQFT
    •  
    • $2,350
    • $0.91
    •  
PROPERTY LISTING DETAILS
D'ann Fleming
1.281.253.7712
Re/max 5 Star Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 95855945
Last Updated: 03/20/2021
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