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

1305 Bayou Glen Drive La Porte, TX 77571

4 Beds 3 Baths 1,412 sqft Built 1993

$185,000

List Price

$1,460

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

January 21, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1993
  • Price/Sqft : $131.02
  • 5 Days on Market
  • MLS # : 32682300
  • Updated Date : 01/23/2021 at 07:57
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,412 sqft
  • Baths : 2 full , 1 half
Listing Agent

Exp Realty, Llc

Listing Agent's Description

This home is located in a small, quaint established subdivision. With NO HOA. It sits on an oversized lot, not too close to neighbors. The first level is the main living space with an open concept to the dining nook, and kitchen great for entertaining. The entire back wall is lined with oversized windows that let in natural light all day long. The stairway has been updated with new carpet that leads up to the second level featuring newer flooring, and all 4 bedrooms. The primary bedroom is spacious enough for a king size bed, and offers a large walk-in closet for plenty of storage. You can also enjoy an oversized covered patio with no back neighbors. A new roof was installed in 2017, and a new AC unit in 2016. This one-of-a-kind home, in a one-of-a-kind neighborhood will not last long! Schedule your showing today! PLEASE SUBMITTE ALL BEST AND FINAL OFFERS BY 5PM TODAY! JANUARY 23, 2021!

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: 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
 

$166,500$203,500$185,000

PURCHASE PRICE

$1,314$1,606$1,460

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,460
EXPENSES Loan Payment -$643
Property Tax -$448
Property Insurance -$123
Property Management Fees -$99
CASH FLOW
$148

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.

$185,000

PROJECTED PRICE

$1,460

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.3%
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$54,775

INVESTMENT

$54,775

Down Payment
$46,250
Rehab Estimate
$5,750
Closing Costs
$2,775

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$643

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $46,250
Loan Amount $138,750
See What Happens When You Reinvest Cash Flow

5.67

YEARS SAVED

$11,959

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,460

    LIST RENT
  • $1.03

    LIST RENT PER SQFT
  • $1,416

    COMP ESTIMATED VALUE
  • $1

    COMP AVG. RENT PER SQFT
Comps Range
$1,460
1$1,4602$1,5003$1,5004$1,5505$1,575
$1,575
RENT COMPS ANALYSIS
  • 1305 Bayou Glen Drive La Porte, TX 1
    • 4 beds 3 baths ∙ 1,412 Sqft ∙ Built 1993 4 beds 3 baths ∙ 1,412 Sqft ∙ Built 1993
    • Rent
    • Rent Per SQFT
    •  
    • $1,460
    • $1.03
    •  
  • 1201 Bayou Glen Drive La Porte, TX 2
    • 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1984 3 beds 3 baths ∙ 1,470 Sqft ∙ Built 1984
    LEASED 10/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $1.02
    •  
  • 9905 Thrush Street La Porte, TX 3
    • 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976 3 beds 2 baths ∙ 1,568 Sqft ∙ Built 1976
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.96
    •  
  • 9908 Wren Street La Porte, TX 4
    • 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977 3 beds 2 baths ∙ 1,500 Sqft ∙ Built 1977
    LEASED 06/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,550
    • $1.03
    •  
  • 10008 Thrush Street La Porte, TX 5
    • 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1977 4 beds 2 baths ∙ 1,568 Sqft ∙ Built 1977
    LEASED 09/18/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,575
    • $1.00
    •  
PROPERTY LISTING DETAILS
Tiffany Ponce
1.832.876.5774
Exp Realty, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 32682300
Last Updated: 01/23/2021
BESbswy