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18646 Summer Hills Boulevard Porter, TX 77365

4 Beds 2 Baths 1,784 sqft Built 1983

$179,000

List Price

$1,450

$1.3K - $1.6K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 1983
  • Price/Sqft : $100.34
  • 2 Days on Market
  • MLS # : 31800731
  • Updated Date : 03/06/2021 at 17:56
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,784 sqft
  • Baths : 2 full
Listing Agent

Bhgre Gary Greene

Listing Agent's Description

Beautiful home on over half an acre. New laminate flooring and toilets. Newer roof and windows. Cover patio great for entertaining.

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: Summer Hills

NeighborhoodNIR Market*CityMarket2010Year2000201960k80k100k120k140k160k180k200k220k240kPrice in $59k254k

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

Neighborhood: Summer Hills

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7551692

* 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
Sorters Mill Elementary School Primary Regular 743 46 4
Woodridge Forest Middle School Middle Unknown NA
Porter High School High Regular 1,677 118 4

Sorters Mill Elementary School

  • Education Level: Primary
  • # of students: 743
  • # of teachers: 46
4
GreatSchools Rating

Woodridge Forest Middle School

  • Education Level: Middle
  • # of students:
  • # of teachers:
NA
GreatSchools Rating

Porter High School

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

$161,100$196,900$179,000

PURCHASE PRICE

$1,305$1,595$1,450

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,450
EXPENSES Loan Payment -$622
Property Tax -$359
Property Insurance -$130
HOA -$21
Property Management Fees -$99
CASH FLOW
$220

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 16% of earned rent to cover both maintenance and periods of vacancy.

$179,000

PROJECTED PRICE

$1,450

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.99%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.01%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k

PROJECTED ANNUAL CASH FLOW

11530$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$53,185

INVESTMENT

$53,185

Down Payment
$44,750
Rehab Estimate
$5,750
Closing Costs
$2,685

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$622

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $44,750
Loan Amount $134,250
See What Happens When You Reinvest Cash Flow

8.5

YEARS SAVED

$20,439

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,450

    LIST RENT
  • $0.81

    LIST RENT PER SQFT
  • $1,600

    COMP ESTIMATED VALUE
  • $0.9

    COMP AVG. RENT PER SQFT
Comps Range
$1,399
1$1,3992$1,4503$1,7004$1,900
$1,900
RENT COMPS ANALYSIS
  • 18646 Summer Hills Boulevard Porter, TX 2
    • 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1983 4 beds 2 baths ∙ 1,784 Sqft ∙ Built 1983
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.81
    •  
  • 24715 Sorters Road Porter, TX 1
    • 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1978 3 beds 2 baths ∙ 1,580 Sqft ∙ Built 1978
    property image
    LEASED 04/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,399
    • $0.89
    •  
  • 25231 Ravencrest Drive Porter, TX 3
    • 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 1983 4 beds 3 baths ∙ 1,875 Sqft ∙ Built 1983
    property image
    LEASED 03/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,700
    • $0.91
    •  
  • 19025 Lazy Lane Porter, TX 4
    • 3 beds 2 baths ∙ 2,125 Sqft ∙ Built 1979 3 beds 2 baths ∙ 2,125 Sqft ∙ Built 1979
    property image
    LEASED 11/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,900
    • $0.89
    •  
PROPERTY LISTING DETAILS
Rebecca Ramirez
1.713.298.8297
Bhgre Gary Greene
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 31800731
Last Updated: 03/06/2021
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