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20293 Southwood Oaks Drive Porter, TX 77365

4 Beds 4 Baths 2,709 sqft Built 2011

$284,999

List Price

$2,280

$2.1K - $2.5K

Rent Est.

PROPERTY INFO

October 30, 2020 RECENTLY ADDED
FACTS
  • Built In 2011
  • Price/Sqft : $105.20
  • 5 Days on Market
  • MLS # : 73136206
  • Updated Date : 11/02/2020 at 20:44
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,709 sqft
  • Baths : 3 full , 1 half
Listing Agent

Jane Byrd Properties Intl.

Listing Agent's Description

*MODEL HOME WITH SO MANY UPGRADES* This home has had one owner and has been meticulously cared for and it shows. Not only will you enjoy your cup of coffee in the upgraded back patio but you will enjoy the view over looking to the 3rd hole in the golf course. You will find peace of mind knowing the home is already equipped with a whole house KOHLER GENERATOR, WATER FILTRATION SYSTEM, and an air anti-allergen UV light system RENE HALO. You will love all the added custom storage through out the home especially in the garage, the Shelf Genie pull out drawers, and expanded pantry also equipped with Shelf Genie. Let's not forget the easy access to major freeways Hwy 59, Grand Parkway, retail shops, restaurants, and HEB. DON'T MISS OUT, REQUEST YOU PRIVATE SHOWING TODAY!

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: Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k305k

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

Neighborhood: Ridge

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700180019002000Rent in $8762063

* 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
White Oak Middle School Middle Regular 784 53 4
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

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
 

$256,499$313,499$284,999

PURCHASE PRICE

$2,052$2,508$2,280

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,280
EXPENSES Loan Payment -$1,052
Property Tax -$787
Property Insurance -$184
HOA -$50
Property Management Fees -$99
CASH FLOW
$109

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.

$284,999

PROJECTED PRICE

$2,280

PROJECTED RENT

0.80%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 9.28%
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-$4.0k-$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$800k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$81,275

INVESTMENT

$81,275

Down Payment
$71,250
Rehab Estimate
$5,750
Closing Costs
$4,275

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 60% down payment or higher enables the proceeds from the asset to cover all costs.

$1,052

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $71,250
Loan Amount $213,749
See What Happens When You Reinvest Cash Flow

3.25

YEARS SAVED

$9,136

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,280

    LIST RENT
  • $0.84

    LIST RENT PER SQFT
  • $2,025

    COMP ESTIMATED VALUE
  • $0.75

    COMP AVG. RENT PER SQFT
Comps Range
$1,915
1$1,9152$2,0003$2,1004$2,1505$2,280
$2,280
RENT COMPS ANALYSIS
  • 20293 Southwood Oaks Drive Porter, TX 5
    • 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2011 4 beds 4 baths ∙ 2,709 Sqft ∙ Built 2011
    • Rent
    • Rent Per SQFT
    •  
    • $2,280
    • $0.84
    •  
  • 20112 Bitter Root Drive Porter, TX 1
    • 3 beds 3 baths ∙ 2,580 Sqft ∙ Built 2006 3 beds 3 baths ∙ 2,580 Sqft ∙ Built 2006
    LEASED 02/08/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,915
    • $0.74
    •  
  • 25239 Denton Trace Drive Porter, TX 2
    • 3 beds 2 baths ∙ 2,551 Sqft ∙ Built 2012 3 beds 2 baths ∙ 2,551 Sqft ∙ Built 2012
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 21319 Avett Drive Porter, TX 3
    • 4 beds 4 baths ∙ 2,889 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,889 Sqft ∙ Built 2014
    LEASED 08/21/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.73
    •  
  • 24434 Sundance Spring Drive Porter, TX 4
    • 4 beds 4 baths ∙ 2,898 Sqft ∙ Built 2010 4 beds 4 baths ∙ 2,898 Sqft ∙ Built 2010
    LEASED 08/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,150
    • $0.74
    •  
PROPERTY LISTING DETAILS
Veronica Cisneros
1.832.863.8548
Jane Byrd Properties Intl.
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 73136206
Last Updated: 11/02/2020
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