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1102 Willow Creek Drive La Porte, TX 77571

3 Beds 2 Baths 1,634 sqft Built 1984

$209,000

List Price

$1,600

$1.4K - $1.8K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
February 26, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1984
  • Price/Sqft : $127.91
  • 4 Days on Market
  • MLS # : 13152342
  • Updated Date : 02/26/2021 at 08:20
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,634 sqft
  • Baths : 2 full
Listing Agent

Utr Texas, Realtors

Listing Agent's Description

Beautiful home located on a large corner lot. Three bedrooms and two full bathrooms. Kitchen has a lot cabinetry and two big windows with large ledges. Big kitchen opens to dinning room and living room. Living room has high ceilings and fire place. Security cameras and refrigerator included.

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MARKET HIGHLIGHTS

  • 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)
  • Houston metro employment growth is at 1.8% and predicted to grow to 2.7% in 2019-20 (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
Jennie Reid Elementary School Primary Regular 507 29 8
Lomax Junior High School Middle Regular 626 37 7
La Porte High School High Regular 2,119 134 5

Jennie Reid Elementary School

  • Education Level: Primary
  • # of students: 507
  • # of teachers: 29
8
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
 

$188,100$229,900$209,000

PURCHASE PRICE

$1,440$1,760$1,600

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,600
EXPENSES Loan Payment -$726
Property Tax -$506
Property Insurance -$138
Property Management Fees -$99
CASH FLOW
$132

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.

$209,000

PROJECTED PRICE

$1,600

PROJECTED RENT

0.77%

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$61,135

INVESTMENT

$61,135

Down Payment
$52,250
Rehab Estimate
$5,750
Closing Costs
$3,135

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$726

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,250
Loan Amount $156,750
See What Happens When You Reinvest Cash Flow

5

YEARS SAVED

$10,871

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,600

    LIST RENT
  • $0.98

    LIST RENT PER SQFT
  • $1,622

    COMP ESTIMATED VALUE
  • $0.99

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5503$1,5604$1,6005$1,650
$1,650
RENT COMPS ANALYSIS
  • 1102 Willow Creek Drive La Porte, TX 4
    • 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1984 3 beds 2 baths ∙ 1,634 Sqft ∙ Built 1984
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,600
    • $0.98
    •  
  • 9805 Thrush Street La Porte, TX 1
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976
    property image
    LEASED 01/13/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.92
    •  
  • 9908 Wren Street La Porte, TX 2
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    property image
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 5409 Rock Springs Drive La Porte, TX 3
    • 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1979 3 beds 3 baths ∙ 1,512 Sqft ∙ Built 1979
    property image
    LEASED 01/31/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $1.03
    •  
  • 9812 Wren Street La Porte, TX 5
    • 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,663 Sqft ∙ Built 1977
    property image
    LEASED 03/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.99
    •  
PROPERTY LISTING DETAILS
Dora Solis
1.713.306.4821
Utr Texas, Realtors
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 13152342
Last Updated: 02/26/2021
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