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21659 Horseshoe Drive Porter, TX 77365

3 Beds 2 Baths 2,122 sqft Built 2009

$219,900

List Price

$1,620

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

November 02, 2020 RECENTLY ADDED
FACTS
  • Built In 2009
  • Price/Sqft : $103.63
  • 2 Days on Market
  • MLS # : 7247297
  • Updated Date : 11/02/2020 at 14:50
CONSTRUCTION
  • Beds : 3
  • Floor Size : 2,122 sqft
  • Baths : 2 full
Listing Agent

Key Harbor Properties

Listing Agent's Description

What a buy! In sought-after Cumberland Crossing, this one story home is the largest one story home in the community. New carpet, fresh paint, new interior doors, 42" cabinets, walk in pantry, study with french doors can be a 4th bedroom, fridge stays, walk in closets, built in cabinets in laundry area, double pane windows, 2" blinds through out, split plan, lots of windows for great lighting, Near Big River Waterpark, Livingston, Conroe and Lake Houston, great medical facilities, near Grand Parkway shopping, easy access to Grand Parkway 99 for easy commute anywhere! Community offers park and friendly family atmosphere. No flooding

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: Cumberland Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019120k140k160k180k200k220k240kPrice in $105k259k

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

Neighborhood: Cumberland Crossing

NeighborhoodNIR Market*CityMarket2010Year20002019 Q290010001100120013001400150016001700Rent in $8761711

* 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
Robert Crippen Elementary School Primary Regular 840 49 3
White Oak Middle School Middle Regular 784 53 4
Porter High School High Regular 1,677 118 4

Robert Crippen Elementary School

  • Education Level: Primary
  • # of students: 840
  • # of teachers: 49
3
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
 

$197,910$241,890$219,900

PURCHASE PRICE

$1,458$1,782$1,620

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,620
EXPENSES Loan Payment -$811
Property Tax -$441
Property Insurance -$150
HOA -$38
Property Management Fees -$99
CASH FLOW
$82

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.

$219,900

PROJECTED PRICE

$1,620

PROJECTED RENT

0.74%

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

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$64,024

INVESTMENT

$64,024

Down Payment
$54,975
Rehab Estimate
$5,750
Closing Costs
$3,299

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$811

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $54,975
Loan Amount $164,925
See What Happens When You Reinvest Cash Flow

4.33

YEARS SAVED

$10,247

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,620

    LIST RENT
  • $0.76

    LIST RENT PER SQFT
  • $1,767

    COMP ESTIMATED VALUE
  • $0.83

    COMP AVG. RENT PER SQFT
Comps Range
$1,560
1$1,5602$1,6203$1,6254$1,7505$1,750
$1,750
RENT COMPS ANALYSIS
  • 21659 Horseshoe Drive Porter, TX 2
    • 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 2009 3 beds 2 baths ∙ 2,122 Sqft ∙ Built 2009
    property image
    • Rent
    • Rent Per SQFT
    •  
    • $1,620
    • $0.76
    •  
  • 21622 Messara Court Porter, TX 1
    • 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,787 Sqft ∙ Built 2015
    property image
    LEASED 10/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,560
    • $0.87
    •  
  • 21618 Messara Court Porter, TX 3
    • 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 2015 4 beds 2 baths ∙ 1,949 Sqft ∙ Built 2015
    property image
    LEASED 08/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,625
    • $0.83
    •  
  • 18120 Red Pine Court Porter, TX 4
    • 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1999 4 beds 3 baths ∙ 2,218 Sqft ∙ Built 1999
    property image
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.79
    •  
  • 19230 Shire Horse Boulevard Porter, TX 5
    • 4 beds 3 baths ∙ 2,085 Sqft ∙ Built 2015 4 beds 3 baths ∙ 2,085 Sqft ∙ Built 2015
    property image
    LEASED 08/22/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,750
    • $0.84
    •  
PROPERTY LISTING DETAILS
Cindy Baker
1.832.443.0452
Key Harbor Properties
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 7247297
Last Updated: 11/02/2020
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