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19894 S Plantation Estates Drive Porter, TX 77365

5 Beds 2 Baths 2,003 sqft Built 2006

INVESTimate

$235,200

List Price

$1,670

$1,503 - $1,837

Rent Est.

$246,066  ( +4.62%)   1 YR EST. FORECAST

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $117.42
  • 10 Days on Market
  • MLS # : 63009590
  • Updated Date : 08/17/2020 at 13:54
CONSTRUCTION
  • Beds : 5
  • Floor Size : 2,003 sqft
  • Baths : 2 full
Listing Agent

La Palma Realty

Listing Agent's Description

Customized one-story home with 5 bedrooms 2 bath, home did not flood during Harvey and is not in a flood zone.

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: Plantation Estates North

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $106k305k

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

Neighborhood: Plantation Estates North

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8412063

* 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
Bens Branch Elementary School Primary Regular 844 52 6
Woodridge Forest Middle School Middle Unknown 671 46 NA
Porter High School High Regular 1,677 118 4

Bens Branch Elementary School

  • Education Level: Primary
  • # of students: 844
  • # of teachers: 52
6
GreatSchools Rating

Woodridge Forest Middle School

  • Education Level: Middle
  • # of students: 671
  • # of teachers: 46
NA
GreatSchools Rating

Porter High School

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

$211,680$258,720$235,200

PURCHASE PRICE

$1,503$1,837$1,670

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$12k

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 $1,670
EXPENSES Loan Payment -$868
Property Tax -$471
Property Insurance -$143
Property Management Fees -$99
CASH FLOW
$89

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.

$235,200

PROJECTED PRICE

$1,670

PROJECTED RENT

0.71%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.62%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$68,078

INVESTMENT

$68,078

Down Payment
$58,800
Rehab Estimate
$5,750
Closing Costs
$3,528

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$868

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $58,800
Loan Amount $176,400
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$10,987

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,670

    LIST RENT
  • $0.83

    LIST RENT PER SQFT
  • $1,776

    COMP ESTIMATED VALUE
  • $0.89

    COMP AVG. RENT PER SQFT
Comps Range
$1,670
1$1,6702$1,9753$2,0004$2,000
$2,000
RENT COMPS ANALYSIS
  • 19894 S Plantation Estates Drive Porter, TX 1
    • 5 beds 2 baths ∙ 2,003 Sqft ∙ Built 2006 5 beds 2 baths ∙ 2,003 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,670
    • $0.83
    •  
  • 25609 Tiverton Forest Court Porter, TX 2
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005
    LEASED 08/31/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,975
    • $0.89
    •  
  • 20200 Southwood Oaks Drive Porter, TX 3
    • 4 beds 4 baths ∙ 2,242 Sqft ∙ Built 2008 4 beds 4 baths ∙ 2,242 Sqft ∙ Built 2008
    LEASED 10/18/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.89
    •  
  • 20743 Oakhurst Meadows Drive Porter, TX 4
    • 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006
    LEASED 07/15/19
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.88
    •  
PROPERTY LISTING DETAILS
Pedro Vazquez
1.281.303.7875
La Palma Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 63009590
Last Updated: 08/17/2020
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