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21454 Olympic Forest Drive Porter, TX 77365

3 Beds 2 Baths 1,783 sqft Built 2006

$199,000

List Price

$1,540

$1.4K - $1.7K

Rent Est.

PROPERTY INFO

SINGLE-FAMILY
March 27, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $111.61
  • 2 Days on Market
  • MLS # : 41384264
  • Updated Date : 03/27/2021 at 13:29
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,783 sqft
  • Baths : 2 full
Listing Agent

Keller Williams Realty

Listing Agent's Description

Great 1 story in the family friendly neighborhood of Forest Colony. Popular open floor plan that has high ceilings and a lot of windows for plenty of natural light. Living room opens to the spacious kitchen and breakfast room. Formal dining off entry. Split floor plan which has the Master in back and spacious secondary bedrooms on left. Large master bedroom that has en-suite with separate shower, his and her sinks, vanity area and a large walk-in closet. Fenced back yard for privacy with covered patio and enough room for swing-set and/or garden. Neighborhood offers community pool, playground and recreation center.

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

Zip Code: 77365

ZipNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k254k

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

Zip Code: 77365

ZipNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600Rent in $8761692

* 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
Valley Ranch Elementary School Primary Regular 660 40 4
New Caney Middle School Middle Unknown NA
New Caney High School High Regular 1,587 115 3

Valley Ranch Elementary School

  • Education Level: Primary
  • # of students: 660
  • # of teachers: 40
4
GreatSchools Rating

New Caney Middle School

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

New Caney High School

  • Education Level: High
  • # of students: 1,587
  • # of teachers: 115
3
GreatSchools Rating
 

$179,100$218,900$199,000

PURCHASE PRICE

$1,386$1,694$1,540

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,540
EXPENSES Loan Payment -$691
Property Tax -$405
Property Insurance -$130
HOA -$46
Property Management Fees -$99
CASH FLOW
$169

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.

$199,000

PROJECTED PRICE

$1,540

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 4.6%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
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-$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

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$58,485

INVESTMENT

$58,485

Down Payment
$49,750
Rehab Estimate
$5,750
Closing Costs
$2,985

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 50% down payment or higher enables the proceeds from the asset to cover all costs.

$691

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $49,750
Loan Amount $149,250
See What Happens When You Reinvest Cash Flow

6.33

YEARS SAVED

$14,193

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,540

    LIST RENT
  • $0.86

    LIST RENT PER SQFT
  • $1,627

    COMP ESTIMATED VALUE
  • $0.91

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,5003$1,5404$1,6505$1,925
$1,925
RENT COMPS ANALYSIS
  • 21454 Olympic Forest Drive Porter, TX 3
    • 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,783 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,540
    • $0.86
    •  
  • 21470 Olympic Forest Drive Porter, TX 1
    • 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,750 Sqft ∙ Built 2006
    LEASED 11/19/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.83
    •  
  • 21502 Olympic Forest Drive Porter, TX 2
    • 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2006 3 beds 2 baths ∙ 1,651 Sqft ∙ Built 2006
    LEASED 12/31/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,500
    • $0.91
    •  
  • 22542 Stillwater Canyon Ln Porter, TX 4
    • 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2010 3 beds 2 baths ∙ 1,756 Sqft ∙ Built 2010
    LEASED 12/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,650
    • $0.94
    •  
  • 21227 Flowering Dogwood Circle Porter, TX 5
    • 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2018 3 beds 2 baths ∙ 1,980 Sqft ∙ Built 2018
    LEASED 03/26/21
    • Rent
    • Rent Per SQFT
    •  
    • $1,925
    • $0.97
    •  
PROPERTY LISTING DETAILS
Tracy Montgomery
1.713.825.5905
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 #: 41384264
Last Updated: 03/27/2021
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