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21501 Boix Manor Lane Porter, TX 77365

4 Beds 3 Baths 2,418 sqft Built 2012

$244,900

List Price

$1,990

$1.8K - $2.2K

Rent Est.

PROPERTY INFO

February 06, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2012
  • Price/Sqft : $101.28
  • 2 Days on Market
  • MLS # : 84150496
  • Updated Date : 02/06/2021 at 18:34
CONSTRUCTION
  • Beds : 4
  • Floor Size : 2,418 sqft
  • Baths : 2 full , 1 half
Listing Agent

Re/max Integrity

Listing Agent's Description

You will fall in love with this stunning gently lived in 2 story home on a large cul-de-sac lot in a golf course community. An inviting entry leads to a huge family room open to the kitchen & dining area, a wonderful layout for family gatherings & entertaining. The island kitchen features granite counters, tile backsplash, stainless appliances & a large dining area that easily accommodates 10 to 12. Vinyl plank & tile floors throughout downstairs + a convenient laundry room & half bath. Upstairs features a huge game room; a spacious master with room for a sitting area + an ensuite w/dual sinks, soaking tub & separate shower; 3 additional bedrooms + a 2nd full bath. Enjoy outside living w/an extended/covered back patio & a very large back yard w/room for play sets & a pool. Neighborhood amenities include: pool, splash pad, playgrounds, club house, walking paths, basketball court & golf course. Easy access to 59, 99, downtown, medical center & airport for easy work commutes to anywhere.

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: Oakhurst at Kingwood

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240k260k280k300kPrice in $109k305k

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

Neighborhood: Oakhurst at Kingwood

NeighborhoodNIR Market*CityMarket2010Year20002019 Q29001000110012001300140015001600170018001900200021002200Rent in $8762274

* 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
 

$220,410$269,390$244,900

PURCHASE PRICE

$1,791$2,189$1,990

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,990
EXPENSES Loan Payment -$851
Property Tax -$730
Property Insurance -$167
HOA -$54
Property Management Fees -$99
CASH FLOW
$90

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.

$244,900

PROJECTED PRICE

$1,990

PROJECTED RENT

0.81%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.87%
Appreciation Year (1-5) 2.5%
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$10k

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$70,649

INVESTMENT

$70,649

Down Payment
$61,225
Rehab Estimate
$5,750
Closing Costs
$3,674

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$851

MONTHLY LOAN PAYMENT

30 yr
Term
3.75%
Interest
25.00%
Down Payment
Term 30 Years
Interest 3.75%
Down Payment $61,225
Loan Amount $183,675
See What Happens When You Reinvest Cash Flow

2.67

YEARS SAVED

$5,246

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,990

    LIST RENT
  • $0.82

    LIST RENT PER SQFT
  • $1,977

    COMP ESTIMATED VALUE
  • $0.82

    COMP AVG. RENT PER SQFT
Comps Range
$1,850
1$1,8502$1,9903$2,0004$2,0005$2,000
$2,000
RENT COMPS ANALYSIS
  • 21501 Boix Manor Lane Porter, TX 2
    • 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2012 4 beds 3 baths ∙ 2,418 Sqft ∙ Built 2012
    • Rent
    • Rent Per SQFT
    •  
    • $1,990
    • $0.82
    •  
  • 21349 Thurston Crossing Drive Porter, TX 1
    • 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2008 3 beds 3 baths ∙ 2,292 Sqft ∙ Built 2008
    LEASED 09/30/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.81
    •  
  • 21362 Hubbard Run Drive Porter, TX 3
    • 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2014 4 beds 3 baths ∙ 2,580 Sqft ∙ Built 2014
    LEASED 12/04/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.78
    •  
  • 21283 Lily Springs Drive Porter, TX 4
    • 3 beds 4 baths ∙ 2,355 Sqft ∙ Built 2013 3 beds 4 baths ∙ 2,355 Sqft ∙ Built 2013
    LEASED 09/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.85
    •  
  • 24114 Auburn Falls Lane Porter, TX 5
    • 4 beds 4 baths ∙ 2,413 Sqft ∙ Built 2014 4 beds 4 baths ∙ 2,413 Sqft ∙ Built 2014
    LEASED 07/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $2,000
    • $0.83
    •  
PROPERTY LISTING DETAILS
Melissa Franklin
1.713.828.1177
Re/max Integrity
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 84150496
Last Updated: 02/06/2021
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