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1322 Louisiana Avenue Pasadena, TX 77536

3 Beds 2 Baths 1,603 sqft Built 1992

$215,000

List Price

$1,680

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 18, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1992
  • Price/Sqft : $134.12
  • 5 Days on Market
  • MLS # : 82447362
  • Updated Date : 11/19/2020 at 17:36
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,603 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Bring in the Holiday Cheer in this new home! Sitting in a quiet little neighborhood in the Eastside Manor Subdivision, this 3 bedroom house has enough parking space for the upcoming family gatherings & has a gated door that leads to the huge backyard. Privately fenced in, the oversized covered patio is wrapped in a string of lights to host your parties rain or shine! Spacious living area with gas log fireplace for those upcoming winter nights. Split bedroom plan with primary bedroom secluded on the opposite side of the home. The kitchen overlooks the living room and has lots of cabinet space. Ceramic tile throughout, built-in bookshelf, LED Lighting, and NO HOA. What more could you wish for this Christmas? Schedule your 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: Eastside Manor

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240k260kPrice in $89k273k

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

Neighborhood: Eastside Manor

NeighborhoodNIR Market*CityMarket2010Year20002019 Q21000110012001300140015001600Rent in $9241681

* 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
Carpenter Elementary School Primary Regular 814 53 7
Bonnette Junior High School Middle Regular 775 47 5
Deer Park High School South Campus High Regular 4,103 258 6

Carpenter Elementary School

  • Education Level: Primary
  • # of students: 814
  • # of teachers: 53
7
GreatSchools Rating

Bonnette Junior High School

  • Education Level: Middle
  • # of students: 775
  • # of teachers: 47
5
GreatSchools Rating

Deer Park High School South Campus

  • Education Level: High
  • # of students: 4,103
  • # of teachers: 258
6
GreatSchools Rating
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,512$1,848$1,680

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,680
EXPENSES Loan Payment -$793
Property Tax -$521
Property Insurance -$136
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.

$215,000

PROJECTED PRICE

$1,680

PROJECTED RENT

0.78%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 7.8%
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$12k

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$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

5.08

YEARS SAVED

$13,368

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,680

    LIST RENT
  • $1.05

    LIST RENT PER SQFT
  • $1,683

    COMP ESTIMATED VALUE
  • $1.05

    COMP AVG. RENT PER SQFT
Comps Range
$1,325
1$1,3252$1,6253$1,6504$1,6805$1,825
$1,825
RENT COMPS ANALYSIS
  • 1322 Louisiana Avenue Pasadena, TX 4
    • 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1992 3 beds 2 baths ∙ 1,603 Sqft ∙ Built 1992
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,680
    • $1.05
    •  
  • 4259 Gypsy Pops Drive Pasadena, TX 1
    • 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1991 3 beds 3 baths ∙ 1,404 Sqft ∙ Built 1991
    property image
    LEASED 08/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,325
    • $0.94
    •  
  • 4047 Carmel Ridge Way Pasadena, TX 2
    • 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 2005 3 beds 3 baths ∙ 1,452 Sqft ∙ Built 2005
    property image
    LEASED 06/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $1.12
    •  
  • 4114 Venetian Way Pasadena, TX 3
    • 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972 3 beds 2 baths ∙ 1,475 Sqft ∙ Built 1972
    property image
    LEASED 07/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $1.12
    •  
  • 1817 New Orleans Street Deer Park, TX 5
    • 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1975 3 beds 2 baths ∙ 1,798 Sqft ∙ Built 1975
    property image
    LEASED 10/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,825
    • $1.02
    •  
PROPERTY LISTING DETAILS
Ruby Miranda
1.832.830.2055
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 82447362
Last Updated: 11/19/2020
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