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18108 Red Pine Court Porter, TX 77365

5 Beds 3 Baths 2,218 sqft Built 1999

$210,000

List Price

$1,780

$1.6K - $2K

Rent Est.

PROPERTY INFO

February 13, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1999
  • Price/Sqft : $94.68
  • 2 Days on Market
  • MLS # : 40732999
  • Updated Date : 02/13/2021 at 16:27
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,218 sqft
  • Baths : 2 full , 1 half
Listing Agent

Opendoor Brokerage, Llc

Listing Agent's Description

This Porter two-story cul-de-sac home offers granite countertops, and a two-car garage. This home is vacant and cleaned regularly.

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: Cumberland

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $100k254k

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

Neighborhood: Cumberland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7881692

* 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
Robert Crippen Elementary School Primary Regular 840 49 3
White Oak Middle School Middle Regular 784 53 4
Porter High School High Regular 1,677 118 4

Robert Crippen Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 49
3
GreatSchools Rating

White Oak Middle School

  • Education Level: Middle
  • # of students: 784
  • # of teachers: 53
4
GreatSchools Rating

Porter High School

  • Education Level: High
  • # of students: 1,677
  • # of teachers: 118
4
GreatSchools Rating
 

$189,000$231,000$210,000

PURCHASE PRICE

$1,602$1,958$1,780

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,780
EXPENSES Loan Payment -$729
Property Tax -$483
Property Insurance -$155
HOA -$30
Property Management Fees -$99
CASH FLOW
$284

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.

$210,000

PROJECTED PRICE

$1,780

PROJECTED RENT

0.85%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.6%
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$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

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$61,400

INVESTMENT

$61,400

Down Payment
$52,500
Rehab Estimate
$5,750
Closing Costs
$3,150

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 40% down payment or higher enables the proceeds from the asset to cover all costs.

$729

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $52,500
Loan Amount $157,500
See What Happens When You Reinvest Cash Flow

8.42

YEARS SAVED

$23,623

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,780

    LIST RENT
  • $0.8

    LIST RENT PER SQFT
  • $1,791

    COMP ESTIMATED VALUE
  • $0.81

    COMP AVG. RENT PER SQFT
Comps Range
$1,500
1$1,5002$1,5903$1,6254$1,7505$1,780
$1,780
RENT COMPS ANALYSIS
  • 18108 Red Pine Court Porter, TX 5
    • 5 beds 3 baths ∙ 2,218 Sqft ∙ Built 1999 5 beds 3 baths ∙ 2,218 Sqft ∙ Built 1999
    • Rent
    • Rent Per SQFT
    •  
    • $1,780
    • $0.80
    •  
  • 21693 Tan Oak Court Porter, TX 1
    • 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1986 4 beds 3 baths ∙ 1,913 Sqft ∙ Built 1986
    LEASED 01/06/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.78
    •  
  • 19049 Hammer Lane Porter, TX 2
    • 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2005 4 beds 2 baths ∙ 1,920 Sqft ∙ Built 2005
    LEASED 08/30/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,590
    • $0.83
    •  
  • 21618 Messara Court Porter, TX 3
    • 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 2015
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.83
    •  
  • 18120 Red Pine Court Porter, TX 4
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1999
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
PROPERTY LISTING DETAILS
Feras Rachid
1.855.327.9361
Opendoor Brokerage, Llc
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 40732999
Last Updated: 02/13/2021
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