Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

10822 Mesquite Drive La Porte, TX 77571

3 Beds 2 Baths 1,474 sqft Built 1984

$219,000

List Price

$1,610

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $148.58
  • 3 Days on Market
  • MLS # : 92100374
  • Updated Date : 03/12/2021 at 21:42
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,474 sqft
  • Baths : 2 full
Listing Agent

Vip Properties

Listing Agent's Description

Just in time for summer, this home has 3 bedrooms and 2 bathrooms that features an updated kitchen with granite countertops, the spacious living room has vaulted ceilings to open up living room and kitchen, and all bedrooms have plenty of storage with walk-in closets, and fresh paint throughout. The over sized backyard is perfect for family gatherings with the covered patio and pool that was just resurfaced (2021). Schedule your private showing 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
Rizzuto Elementary School Primary Regular 610 35 10
La Porte Junior High School Middle Regular 553 35 6
La Porte High School High Regular 2,119 134 5

Rizzuto Elementary School

  • Education Level: Primary
  • # of students: 610
  • # of teachers: 35
10
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
 

$197,100$240,900$219,000

PURCHASE PRICE

$1,449$1,771$1,610

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,610
EXPENSES Loan Payment -$761
Property Tax -$530
Property Insurance -$127
HOA -$13
Property Management Fees -$99
CASH FLOW
$81

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.

$219,000

PROJECTED PRICE

$1,610

PROJECTED RENT

0.74%

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$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$700k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$63,785

INVESTMENT

$63,785

Down Payment
$54,750
Rehab Estimate
$5,750
Closing Costs
$3,285

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$761

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $54,750
Loan Amount $164,250
See What Happens When You Reinvest Cash Flow

4

YEARS SAVED

$7,599

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,610

    LIST RENT
  • $1.09

    LIST RENT PER SQFT
  • $1,603

    COMP ESTIMATED VALUE
  • $1.09

    COMP AVG. RENT PER SQFT
Comps Range
$1,550
1$1,5502$1,5503$1,6104$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 10822 Mesquite Drive La Porte, TX 3
    • 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,474 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,610
    • $1.09
    •  
  • 10841 Mesquite Drive La Porte, TX 1
    • 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,451 Sqft ∙ Built 1984
    property image
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.07
    •  
  • 10034 Winding Trail Road La Porte, TX 2
    • 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,430 Sqft ∙ Built 1976
    property image
    LEASED 06/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.08
    •  
  • 10925 Collingswood Drive La Porte, TX 4
    • 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,552 Sqft ∙ Built 1984
    property image
    LEASED 01/08/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.13
    •  
  • 9751 Clairmont Drive La Porte, TX 5
    • 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981 3 beds 2 baths ∙ 1,643 Sqft ∙ Built 1981
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $1.07
    •  
PROPERTY LISTING DETAILS
Dylan Adamek
1.713.419.6596
Vip Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 92100374
Last Updated: 03/12/2021
BESbswy