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21316 Terreton Springs Drive Porter, TX 77365

4 Beds 2 Baths 1,913 sqft Built 2006

$215,000

List Price

$1,730

$1.6K - $1.9K

Rent Est.

PROPERTY INFO

FACTS
  • Built In 2006
  • Price/Sqft : $112.39
  • 10 Days on Market
  • MLS # : 36827839
  • Updated Date : 11/01/2020 at 17:11
CONSTRUCTION
  • Beds : 4
  • Floor Size : 1,913 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Charming home in desirable neighborhood of Oakhurst! This home has never flooded. It is easily accessible to major roads for faster commute. Close to shops, groceries and restaurants! The home is situated in a quiet cul de sac. Great floor plan with formal dining room that can easily be used as an office or play room. Open concept kitchen with granite counter tops and lots of cabinets. Notice the added custom wrought iron details! There is a custom wrought iron door and archway that are included with the home. Make your appointment today before this one is gone!

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: Point at Oakhurst

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k305k

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

Neighborhood: Point at Oakhurst

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
 

$193,500$236,500$215,000

PURCHASE PRICE

$1,557$1,903$1,730

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,730
EXPENSES Loan Payment -$793
Property Tax -$588
Property Insurance -$138
HOA -$54
Property Management Fees -$99
CASH FLOW
$58

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.

$215,000

PROJECTED PRICE

$1,730

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

PROJECTED ANNUAL CASH FLOW

11530-$4.0k-$2.0k$0.0$2.0k$4.0k$6.0k$8.0k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$62,725

INVESTMENT

$62,725

Down Payment
$53,750
Rehab Estimate
$5,750
Closing Costs
$3,225

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$793

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $53,750
Loan Amount $161,250
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,464

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,730

    LIST RENT
  • $0.9

    LIST RENT PER SQFT
  • $1,746

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,650
1$1,6502$1,7303$1,8494$1,9505$2,000
$2,000
RENT COMPS ANALYSIS
  • 21316 Terreton Springs Drive Porter, TX 2
    • 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2006 4 beds 2 baths ∙ 1,913 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,730
    • $0.90
    •  
  • 25582 Ramsey Heights Way Porter, TX 1
    • 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2017 3 beds 2 baths ∙ 1,780 Sqft ∙ Built 2017
    LEASED 06/24/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.93
    •  
  • 21344 Thurston Crossing Drive Porter, TX 3
    • 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 2008 4 beds 2 baths ∙ 2,008 Sqft ∙ Built 2008
    LEASED 09/12/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,849
    • $0.92
    •  
  • 20762 Oakhurst Creek Drive Porter, TX 4
    • 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 2007 3 beds 2 baths ∙ 2,157 Sqft ∙ Built 2007
    LEASED 01/23/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,950
    • $0.90
    •  
  • 25604 Southwood Oaks Court Porter, TX 5
    • 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005 4 beds 2 baths ∙ 2,225 Sqft ∙ Built 2005
    LEASED 10/01/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.90
    •  
PROPERTY LISTING DETAILS
Lourdes Reynolds
1.240.476.4897
Keller Williams Realty
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 36827839
Last Updated: 11/01/2020
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