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20817 Hixon Creek Drive Porter, TX 77365

4 Beds 2 Baths 2,313 sqft Built 2007

$259,000

List Price

$2,050

$1.8K - $2.3K

Rent Est.

PROPERTY INFO

December 05, 2020 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2007
  • Price/Sqft : $111.98
  • 3 Days on Market
  • MLS # : 80034870
  • Updated Date : 12/04/2020 at 17:40
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,313 sqft
  • Baths : 2 full
Listing Agent

Martha Turner Sotheby's

Listing Agent's Description

Welcome to this adorable one story 4 bedroom home in Oakhurst. Charming dining room and living room. Kitchen has island, sit up breakfast bar and an abundance of storage. Large windows in the living room over looking patio and yard. The primary bedroom has tall ceilings, lots of natural light and is very spacious. The primary bathroom has separate bath and shower and large walk in closets. The whole house has just been freshly painted in new neutral colors. This home is up front Oakhurst and an easy commute to the airport 15 mins, The Woodlands 30 Mins, or Downtown 30 Minutes! Call today as this home won't last long. NEVER FLOODED

SEE MORE

MARKET HIGHLIGHTS

  • 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)
  • 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)

PRICE & RENT TRENDS

Neighborhood: Park

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k305k

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

Neighborhood: Park

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
 

$233,100$284,900$259,000

PURCHASE PRICE

$1,845$2,255$2,050

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $2,050
EXPENSES Loan Payment -$956
Property Tax -$679
Property Insurance -$161
HOA -$50
Property Management Fees -$99
CASH FLOW
$106

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.

$259,000

PROJECTED PRICE

$2,050

PROJECTED RENT

0.79%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 5.0%
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

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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$74,385

INVESTMENT

$74,385

Down Payment
$64,750
Rehab Estimate
$5,750
Closing Costs
$3,885

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$956

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $64,750
Loan Amount $194,250
See What Happens When You Reinvest Cash Flow

3.5

YEARS SAVED

$9,348

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $2,050

    LIST RENT
  • $0.89

    LIST RENT PER SQFT
  • $2,041

    COMP ESTIMATED VALUE
  • $0.88

    COMP AVG. RENT PER SQFT
Comps Range
$2,000
1$2,0002$2,0003$2,0354$2,0505$2,100
$2,100
RENT COMPS ANALYSIS
  • 20817 Hixon Creek Drive Porter, TX 4
    • 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2007 4 beds 2 baths ∙ 2,313 Sqft ∙ Built 2007
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $2,050
    • $0.89
    •  
  • 25609 Tiverton Forest Court Porter, TX 1
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005
    property image
    LEASED 09/25/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 25604 Southwood Oaks Court Porter, TX 2
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005
    property image
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
  • 20836 Sheridan Heights Lane Porter, TX 3
    • 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2008 4 beds 3 baths ∙ 2,498 Sqft ∙ Built 2008
    property image
    LEASED 11/02/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,035
    • $0.81
    •  
  • 20743 Oakhurst Meadows Drive Porter, TX 5
    • 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006 4 beds 2 baths ∙ 2,275 Sqft ∙ Built 2006
    property image
    LEASED 12/03/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,100
    • $0.92
    •  
PROPERTY LISTING DETAILS
Michelle Feltrop
1.281.414.5072
Martha Turner Sotheby's
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 80034870
Last Updated: 12/04/2020
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