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22070 Misty Moss Court Porter, TX 77365

3 Beds 3 Baths 1,376 sqft Built 2002

INVESTimate

$168,000

List Price

$1,290

$1,161 - $1,419

Rent Est.

$182,398  ( +8.57%)   1 YR EST. FORECAST

PROPERTY INFO

August 24, 2020 RECENTLY ADDED
FACTS
  • Built In 2002
  • Price/Sqft : $122.09
  • 3 Days on Market
  • MLS # : 87969682
  • Updated Date : 08/24/2020 at 14:15
CONSTRUCTION
  • Beds : 3
  • Floor Size : 1,376 sqft
  • Baths : 2 full , 1 half
Listing Agent

Champions Real Estate Group

Listing Agent's Description

It looks like a model home & pride of ownership shows up in every detail. Upon entering the front door you will see all the designer details that the owner chose; from the wood laminate flooring throughout the downstairs to the paint colors to the island kitchen. The kitchen features a large island w/wine chiller, granite counters, custom cabinets w/soft close drawers & doors, under cab lighting, marble back splash & SS appliances. The master retreat has an en-suite bathroom w/a rainfall type shower head & a spacious walk in closet. Other stunning features include: granite counters, vanity mirrors & new flooring in bathrooms; 2" faux wood blinds, recessed LED lighting on 1st floor, new door hardware, powder room w/a marble floor, new sod in the rear of home, new side gate for fence, water heater replaced in 2015, new interior paint & so much more. Quick access to Hwy 99 & Valley Ranch Town Center area w/dining, shopping & entertainment!

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

NeighborhoodNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $100k254k

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

Neighborhood: Cumberland

NeighborhoodNIR Market*CityMarket2010Year20002019 Q28009001000110012001300140015001600Rent in $7881692

* 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
 

$151,200$184,800$168,000

PURCHASE PRICE

$1,161$1,419$1,290

RENT

DOWN PAYMENT
FINANCING

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

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

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

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,290
EXPENSES Loan Payment -$620
Property Tax -$337
Property Insurance -$107
HOA -$38
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.

$168,000

PROJECTED PRICE

$1,290

PROJECTED RENT

0.77%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 2.94%
Appreciation Year (1-5) 8.57%
Maintenance Year (1-5) 8.00%
Vacancy 8.80%
Length of Stay Years 2

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$50,270

INVESTMENT

$50,270

Down Payment
$42,000
Rehab Estimate
$5,750
Closing Costs
$2,520

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

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

$620

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $42,000
Loan Amount $126,000
See What Happens When You Reinvest Cash Flow

4.92

YEARS SAVED

$10,040

INTEREST SAVED

CASH FLOW REINVESTMENT

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

  • $1,290

    LIST RENT
  • $0.94

    LIST RENT PER SQFT
  • $1,290

    COMP ESTIMATED VALUE
  • $0.94

    COMP AVG. RENT PER SQFT
Comps Range
$1,249
1$1,2492$1,2903$1,4254$1,4505$1,450
$1,450
RENT COMPS ANALYSIS
  • 22070 Misty Moss Court Porter, TX 2
    • 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 2002 3 beds 3 baths ∙ 1,376 Sqft ∙ Built 2002
    • Rent
    • Rent Per SQFT
    •  
    • $1,290
    • $0.94
    •  
  • 22042 Soft Pines Court Porter, TX 1
    • 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2001 3 beds 2 baths ∙ 1,214 Sqft ∙ Built 2001
    LEASED 01/17/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,249
    • $1.03
    •  
  • 18354 Knotted Oak Court Court Porter, TX 3
    • 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 2001 4 beds 2 baths ∙ 1,587 Sqft ∙ Built 2001
    LEASED 01/10/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,425
    • $0.90
    •  
  • 21880 Silver Oak Court Porter, TX 4
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1999
    LEASED 12/14/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
  • 18121 Red Pine Court Porter, TX 5
    • 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1999 3 beds 2 baths ∙ 1,587 Sqft ∙ Built 1999
    LEASED 03/01/19
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.91
    •  
PROPERTY LISTING DETAILS
Robert Delaneo
1.832.797.8001
Champions Real Estate Group
Wade Shoop
1.866.250.5610
RentVest Property Management LLC
LIC TREC #9005027
Houston Association of Realtors Multiple Listing Service ( HARMLS)
MLS #: 87969682
Last Updated: 08/24/2020
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