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11710 E Milam Drive La Porte, TX 77571

3 Beds 2 Baths 1,907 sqft Built 2000

INVESTimate

$199,000

List Price

$1,660

$1,494 - $1,826

Rent Est.

$215,577  ( +8.33%)   1 YR EST. FORECAST

PROPERTY INFO

August 21, 2020 RECENTLY ADDED
FACTS
  • Built In 2000
  • Price/Sqft : $104.35
  • 6 Days on Market
  • MLS # : 82178596
  • Updated Date : 08/23/2020 at 12:48
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,907 sqft
  • Baths : 2 full
Listing Agent

Main Properties

Listing Agent's Description

Great home in quiet Monument Estates. No HOA. Did not flood. Large backyard with utility shed. All cabinets were made with Brazilain Rosewood. Beautiful built in book cases sit on both sides of the gas fireplace. Tile flooring throughout the house. Large bedrooms. Close to schools, shopping and the Houston Ship Channel. Easy access to HWY 225 and HWy 146.

SEE MORE

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: Lomax

NeighborhoodNIR Market*CityMarket2010Year2000201990k100k110k120k130k140k150k160k170k180k190k200k210k220kPrice in $84k222k

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

Neighborhood: Lomax

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9101677

* 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
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$734
Property Tax -$540
Property Insurance -$156
Property Management Fees -$99
CASH FLOW
$131

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.

$199,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.83%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.33%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$734

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

4.75

YEARS SAVED

$11,573

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,660

    LIST RENT
  • $0.87

    LIST RENT PER SQFT
  • $1,716

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,595
1$1,5952$1,6503$1,6604$1,9005$2,000
$2,000
RENT COMPS ANALYSIS
  • 11710 E Milam Drive La Porte, TX 3
    • 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2000 3 beds 3 baths ∙ 1,907 Sqft ∙ Built 2000
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.87
    •  
  • 10529 Spencer Landing La Porte, TX 1
    • 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,804 Sqft ∙ Built 1999
    LEASED 04/02/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,595
    • $0.88
    •  
  • 1902 Laura Lane La Porte, TX 2
    • 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 1982 3 beds 2 baths ∙ 1,883 Sqft ∙ Built 1982
    LEASED 12/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.88
    •  
  • 421 Spencer Landing La Porte, TX 4
    • 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2000 3 beds 3 baths ∙ 2,111 Sqft ∙ Built 2000
    LEASED 02/13/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.90
    •  
  • 10509 Spencer Landing North Landing La Porte, TX 5
    • 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1999 4 beds 2 baths ∙ 2,123 Sqft ∙ Built 1999
    LEASED 05/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.94
    •  
PROPERTY LISTING DETAILS
Suzanne Heinrich
1.281.610.8964
Main Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82178596
Last Updated: 08/23/2020
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